Spain: Financial Sector Reform—Final Progress Report

International Monetary Fund

No 2014/059, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses key findings of the progress report on financial sector reforms in Spain. Spain’s European Stability Mechanism (ESM)-supported program of financial sector reform aimed to assist economic recovery by promoting financial stability. The program was adopted in mid-2012. The Spanish authorities’ implementation of the program has been steadfast. All of the program’s specific measures are now complete. Major structural reform efforts in a variety of areas (including labor and fiscal policies) will need to continue to achieve sufficiently rapid growth to bring unemployment down to reasonable levels over the medium term.

Keywords: ISCR; CR; capital ratio; bank equity; private sector; aggregate demand; balance sheets; bank assets; supply shock; bank capital; core business; debt ratio; Credit; Loans; Commercial banks; Stocks; Europe (search for similar items in EconPapers)
Pages: 56
Date: 2014-02-20
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