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Fondo De Reestructuración Ordenada Bancaria
FROB, the Spanish Executive Resolution Authority (formerly known as Fund for Orderly Bank Restructuring) is an entity of the Spanish government that manages the resolution processes of credit institutions and investment firms in their executive phase in Spain. FROB was created in 2009 as a result of the financial crisis. Initially, its aim was to increase the strength and solvency of the Spanish banking system by means of two essential functions at that time: managing the restructuring processes of credit institutions and helping to strengthen their own funds. Today, and since the approval of Law 11/2015, FROB is the Spanish Executive Resolution Authority, financed exclusively with private contributions from banks and which is integrated into the European network of authorities led by the Single Resolution Board ( SRB). Law 11/2015 set up a new institutional framework in order to comply with the principles set out in Resolution Directive 2014/59/EU to separate supervisory and re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Spain
, image_flag = Bandera de España.svg , image_coat = Escudo de España (mazonado).svg , national_motto = ''Plus ultra'' (Latin)(English: "Further Beyond") , national_anthem = (English: "Royal March") , image_map = , map_caption = , image_map2 = , capital = Madrid , coordinates = , largest_city = Madrid , languages_type = Official language , languages = Spanish language, Spanish , ethnic_groups = , ethnic_groups_year = , ethnic_groups_ref = , religion = , religion_ref = , religion_year = 2020 , demonym = , government_type = Unitary state, Unitary Parliamentary system, parliamentary constitutional monarchy , leader_title1 = Monarchy of Spain, Monarch , leader_name1 = Felipe VI , leader_title2 = Prime Minister of Spain ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Madrid
Madrid ( , ) is the capital and most populous city of Spain. The city has almost 3.4 million inhabitants and a metropolitan area population of approximately 6.7 million. It is the second-largest city in the European Union (EU), and its monocentric metropolitan area is the third-largest in the EU.United Nations Department of Economic and Social AffairWorld Urbanization Prospects (2007 revision), (United Nations, 2008), Table A.12. Data for 2007. The municipality covers geographical area. Madrid lies on the River Manzanares in the central part of the Iberian Peninsula. Capital city of both Spain (almost without interruption since 1561) and the surrounding autonomous community of Madrid (since 1983), it is also the political, economic and cultural centre of the country. The city is situated on an elevated plain about from the closest seaside location. The climate of Madrid features hot summers and cool winters. The Madrid urban agglomeration has the second-large ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Economy (Spain)
The Ministry of Economic Affairs and Digital Transformation (MINECO) is the department of the Government of Spain responsible for the proposing and carrying out the government policy on economic affairs, business support and reforms to improve economic potential growth as well as acting as the communication channel with the European Union and other economic and financial international organizations in this matters. Likewise, this department is responsible for the telecommunications policy and the digital transformation. This has been a ministry that for most of its history has been linked to the Ministry of the Treasury, including a large part of the democratic stage, although they are now separated. The MINECO is headed by the Economy Minister, a Cabinet member who is appointed by the Monarch at request of the Prime Minister, after hearing the Council of Ministers. The Minister of Economy and Business is assisted by five high-ranking officials, the Secretary of State for Econom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Spanish Government
gl, Goberno de España eu, Espainiako Gobernua , image = , caption = Logo of the Government of Spain , headerstyle = background-color: #efefef , label1 = Role , data1 = Executive power , label2 = Established , data2 = , label3 = Country , data3 = Kingdom of Spain , label4 = Appointed by , data4 = Monarchy of Spain, Monarch , label5 = Main organ , data5 = Council of Ministers (Spain), Council of Ministers , label6 = Responsible to , data6 = Cortes Generales , label7 = Constitution instrument , data7 = Government Act of 1997 , header8 = Cabinet , label9 = Members , data9 = Sánchez II Government, Sánchez Government , label10 = Prime Minister of Spain, Prime Minister , data10 = Pedro Sánchez , label11 = Deputy Prime Minister of Spain, Deputy Prime Minister , data11 = Nadia Calviño , label12 = Number of members , data12 = 23 , ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Single Resolution Board
The Single Resolution Board (SRB) is an EU agency that was established in Brussels in 2015 as part of the broader set of reforms known as the banking union. It acts as the resolution authority for a subset of banks in the euro area and as the institutional hub of the Single Resolution Mechanism. Resolution is the restructuring of a bank by a resolution authority through the use of resolution tools in order to safeguard public interests, including the continuity of the bank's critical functions and financial stability, at minimal costs to taxpayers. History The SRB was established by the EU Single Resolution Mechanism Regulation of 2014 and became operational on 1 January 2015, with full assumption of its resolution authority on 1 January 2016. Its early development was supported by the European Commission. It moved to its current office on Treurenberg 22 in central Brussels in late 2015. The initial activity of the SRB was largely about establishing processes and methodologies, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bankia
Bankia () was a Spanish financial services company that was formed in December 2010, consolidating the operations of seven regional savings banks, and was partially nationalized by the government of Spain in May 2012 due to the near collapse of the institution. As of 2017, Bankia was the fourth largest bank in Spain with total assets of €179.1 billion. In 2021, the bank merged with CaixaBank to create a new entity but preserving the name of the latter. History Formation and IPO Bankia was formed on 3 December 2010, as a result of the union of seven Spanish savings banks that had a major presence in their historical core regions. The merger of the seven banks, known as 'cold fusion', took only four months, with the integration contract being signed on 30 July 2010. Caja Madrid, which was itself owned by the government of the Community of Madrid, held controlling interest. The distribution of shares was as follows: * 52.06% Caja Madrid * 37.70% Bancaja * 2.45% La Caja de Ca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Single Resolution Mechanism
The Single Resolution Mechanism (SRM) is one of the pillars of the European Union's European Union banking union, banking union. The Single Resolution Mechanism entered into force on 19 August 2014 and is directly responsible for the resolution of the entities and groups directly supervised by the European Central Bank as well as other cross-border groups. The centralised decision making is built around the Single Resolution Board (SRB) consisting of a Chair, a Vice Chair, four permanent members, and the relevant national resolution authorities (those where the bank has its headquarters as well as branches and/or subsidiaries). Upon notification from the ECB that a bank is failing or likely to fail, the Board will adopt a resolution scheme including relevant resolution tools and any use of the Single Resolution Fund, established by the SRM Regulation (EU) No 806/2014. The Single Resolution Fund helps to ensure a uniform administrative practice in the financing of resolution with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Spain
The Bank of Spain ( es, link=no, Banco de España) is the central bank of Spain. Established in Madrid in 1782 by Charles III of Spain, Charles III, today the bank is a member of the European System of Central Banks and is also Spain's national competent authority for banking supervision within the Single Supervisory Mechanism. Its activity is regulated by the Bank of Spain Autonomy Act. History Originally named the ''Banco Nacional de San Carlos'', it was founded in 1782 by Charles III of Spain, Charles III in Madrid, to stabilize government finances through its state bonds (''vales reales'') following the American Revolutionary War in which Spain gave military and financial support to the Thirteen Colonies. Although it aided the state, the bank was initially owned privately by stockholders. Its assets included those of "Spanish capitalists, French rentiers, and several treasuries of Indian communities in New Spain" (colonial Mexico). Its first director was French banker Franà ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Comisión Nacional Del Mercado De Valores
The National Securities Market Commission () (often abbreviated as CNMV) is the Spanish government agency responsible for the financial regulation of the securities markets in Spain. It is an independent agency that falls under the Ministry of Economy. History The CNMV was established in 1988 as part of a major reform of Spanish financial sector with the passing of law 24/1988 also known as the "Stock Market" act. Laws 37/1998 and 44/2002 have updated the powers and responsibilities of the agency establishing a regulatory framework to meet the requirements of the European Union. It also allowed for the development of the Spanish stock market in the European environment, incorporating new measures for the investor protection. On 23 May 2008, the then second vice-president and finance minister, Pedro Solbes, announced in the Economic and Financial Committee of Congress that the government was planning a realignment of responsibilities for the regulation of the financial system a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking In Spain
The economy of Spain is a highly developed social market economy. It is the world's sixteenth-largest by nominal GDP and the sixth-largest in Europe. Spain is a member of the European Union and the eurozone, as well as the Organization for Economic Co-operation and Development and the World Trade Organization. In 2021, Spain was the twentieth-largest exporter in the world and the sixteenth-largest importer. Spain is listed 27th in the United Nations Human Development Index and 37th in GDP per capita by the World Bank. According to ''The Economist'' in 2005, Spain had the world's 10th highest quality of life. Some of the main areas of economic activity are the automotive industry, medical technology, chemicals, shipbuilding, tourism, and the textile industry. Following the financial crisis of 2007–2008, the Spanish economy plunged into recession, entering a cycle of negative macroeconomic performance. Compared to the EU's and US's average, the Spanish economy entered reces ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of Spain
gl, Goberno de España eu, Espainiako Gobernua , image = , caption = Logo of the Government of Spain , headerstyle = background-color: #efefef , label1 = Role , data1 = Executive power , label2 = Established , data2 = , label3 = Country , data3 = Kingdom of Spain , label4 = Appointed by , data4 = Monarch , label5 = Main organ , data5 = Council of Ministers , label6 = Responsible to , data6 = Cortes Generales , label7 = Constitution instrument , data7 = Government Act of 1997 , header8 = Cabinet , label9 = Members , data9 = Sánchez Government , label10 = Prime Minister , data10 = Pedro Sánchez , label11 = Deputy Prime Minister , data11 = Nadia Calviño , label12 = Number of members , data12 = 23 , header14 = Administration , label15 = Workinglanguage , data15 = Spanish , label16 = Staff organization , da ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
