publication . Article . Preprint . 2012

Spain: Financial System Stability Assessment

Name: Spain: Financial System Stability Assessment
Creator: null International Monetary Fund

null International Monetary Fund;

Open Access

Published: 08 Jun 2012 Journal: IMF Staff Country Reports, volume 17, page 1 (issn: 1934-7685,

Publisher: International Monetary Fund (IMF)

Summary

Abstract

This report summarizes the findings of the Financial Sector Assessment Program (FSAP) Update for Spain. Although there is a core of strong banks that are well managed and appear resilient to further shocks, vulnerabilities remain. Substantial progress has been made in reforming the former savings banks, and the most vulnerable institutions have either been resolved or are being restructured. Recent measures address the most problematic part of banks’ portfolios. Moving ahead, a further restructuring and recapitalization of some of the remaining weaker banks may be needed as a result of deteriorating economic conditions.