Spain: Report on the Observance of Standards and Codes: Summary Assessments

International Monetary Fund

No 2012/138, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper presents assessment results for the current state of the implementation of the Basel Core Principles for Effective Banking Supervision (BCP) in Spain. It found that significant changes have occurred in Spain since the last Financial Sector Assessment Program. The most serious has been the deterioration of the economy and the real estate sector. The core supervisory process at the Banco de España (BdE) is strong and is supported by qualified staff and an experienced cadre of inspectors, but there are areas of concern.

Keywords: ISCR; CR; risk management; State budget; financial crisis; corporate governance; fixed income; insider trading; investment funds; BdE authority; futures market; banking sector; business model; Insurance companies; Insurance; Commercial banks; Solvency; Internal controls; Global (search for similar items in EconPapers)
Pages: 60
Date: 2012-06-08
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