Spain: Financial Sector Reform: Third Progress Report

July 15, 2013

Preview Citation

Format: Chicago

Spain: Financial Sector Reform: Third Progress Report, (USA: International Monetary Fund, 2013) accessed November 26, 2024

Summary

This paper presents the Third Progress report on Spain’s financial sector reform. Correction of Spain’s large external, fiscal, and financial imbalances is well underway, with policy actions at both the European and Spanish levels helping to ease market pressures over the last year. Financial sector dynamics still contribute to recessionary pressures, with credit contraction accelerating, lending standards tightening, and lending rates to firms rising. Actions taken by the authorities under the European Stability Mechanism-supported program have helped tackle the legacy risk from the real estate boom bust, but macroeconomic risks still loom large.

Subject: Banking, Credit, Financial institutions, Financial sector policy and analysis, Financial statements, Housing prices, Loans, Money, Prices, Public financial management (PFM), Stress testing

Keywords: Balance sheets, Bank capital, Bank clean-up, Bank shareholder, Capital shortfall, CR, Credit, Due diligence, Economic recovery, Europe, Financial statements, Funding cost, Housing prices, ISCR, Loans, SAREB bond, SAREB's assets, Standards well, Stress testing, Top management team

Publication Details

Pages:

40
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2013/205
Stock No:

1ESPEA2013002
ISBN:

9781484333495
ISSN:

1934-7685

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