Spain; Basel Core Principles for Effective Banking Supervision: Detailed Assessment of Compliance Report

This paper assesses compliance of the Basel Core Principles for Effective Banking Supervision in Spain. Significant changes have occurred in Spain since the last Financial Sector Assessment Program (FSAP). The most serious has been the deterioration of the economy and the real estate sector. The dual legal framework governing Cajas poses the risk of potential conflicts in the exercise of supervisory and sanctioning authority. Other 2006 FSAP recommendations have been magnified with the perspective given by events from 2007 to 2011.

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Year of publication:	2012-06-11
Institutions:	International Monetary Fund (IMF) ; International Monetary Fund
Subject:	Bank supervision \| Banking sector \| Basel Core Principles \| Credit risk \| Financial Sector Assessment Program \| Reports on the Observance of Standards and Codes \| Risk management \| banking \| internal audit \| banking supervision \| internal controls \| risk profile \| capital adequacy \| internal control \| prudential regulation \| consolidated supervision \| supervisory authority \| licensing authority \| banking system \| banking supervisors \| supervisory process \| due diligence \| risk management systems \| criminal activities \| foreign banks \| audit function \| accounting standards \| supervisory approach \| banking activities \| money laundering \| compliance function \| reputational risk \| banking law \| bank capital \| supervisory responsibilities \| suspicious transactions \| bank management \| foreign branches \| market participants \| supervisory framework \| licensing process \| banking industry \| external auditor \| prudential supervision \| good faith \| credit risk management \| loan classification \| internal rules \| savings bank \| professional secrecy \| supervisory body \| suspicious activity \| internal control systems \| capital planning \| risk accounts \| supervisory authorities \| reporting requirements \| beneficial ownership \| off balance sheet \| problem bank \| banking business \| information exchange \| legal entities \| bank records \| shell banks \| securities markets \| false information \| suspicious activities \| bank risk \| financial strength \| banking supervisor \| banking operations \| share information \| internal control procedures \| capital adequacy ratio \| capital requirement \| banking license \| distressed bank \| decentralization \| international standards \| monetary authority \| deposit insurance \| internal policies \| business relationships \| assessment criteria \| foreign exchange \| criminal activity \| financial intelligence unit \| banking laws \| deposit insurance scheme \| credit policy \| holding company \| exchange information \| customer acceptance \| law enforcement \| banking risks \| due regard \| subordinated debt \| ethical standards \| financial sector supervisors \| suspicious activity reports \| beneficial owners \| licensing requirements \| settlement systems \| enforcement powers \| financial soundness \| banking authority \| legal entity \| judicial authorities \| competent authorities \| insurance supervisors \| risk management practices \| banking companies \| bank subsidiary \| criminal prosecution \| supervisory regimes \| loan review \| supervisory standards \| bank policies \| due diligence process \| assessment mission \| recapitalization \| bank of spain \| secrecy laws \| bank exposures \| financial regulation \| bank license \| retained earnings \| banking practices \| confidentiality requirements \| regulatory judgments \| tier 1 capital \| bankrupt \| bankruptcy procedure \| compliance officer \| bank issues \| bank staff \| due diligence procedures \| internal procedures \| criminal offence \| bank groups \| bankers \| internal organization \| bank credit \| bank officers \| banking institutions \| banking operation \| supervisory practice \| adequate enforcement powers \| money laundering schemes \| cash transactions \| capital base \| financial supervision \| due diligence requirements \| customer identification \| securities activities \| international supervisory standard \| banking regulation \| electronic banking \| disciplinary proceedings \| banking structures \| compliance program \| bank risks \| asset classification \| bank transfers \| derivative transactions \| doubtful loan \| bank holding \| international accounting standards \| bankers ? association \| banking services \| bank holding companies \| bank liquidation \| anti money laundering \| assessment methodology \| prudential purposes \| bank directors \| due diligence standards \| internal management information \| bank compliance \| bank licenses \| banking sectors \| supervisory bodies \| supervisory regime \| ensuring compliance \| assessment process \| dividend policy \| regulatory requirements \| financial operations \| financial safety net \| dividend payout \| bank systems \| bank reporting \| auditing practices \| loan documentation \| terrorist financing \| bank operations

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Extent:	application/pdf
Series:	IMF Staff Country Reports.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IMF Staff Country Reports Number 12/142 12 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011244093