IMF Staff Country Reports

Spain: Financial Sector Assessment Program-Technical Note on Macroprudential Policy Framework and Tools

Publication Date:

August 1, 2024

Electronic Access:

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Summary:

The macroprudential policy framework in Spain has been significantly reinforced in recent years. A new macroprudential authority, Macroprudential Authority Financial Stability Council, (AMCESFI), has been established in Spain, to provide high level oversight and to strengthen internal coordination on the identification, prevention, and mitigation of systemic risks in the financial system. Techniques and approaches for systemic risk identification have been further enhanced. And gaps in the macroprudential policy toolkit identified by the previous FSAP have been closed, although to date the new tools have not been applied given the assessment of risks. The framework incorporates many areas of strength by international standards, such as the techniques for systemic risk identification and the breadth of permissible macroprudential tools.

Series:

Country Report No. 2024/260

Subject:

Commercial banks Countercyclical capital buffers Financial institutions Financial regulation and supervision Financial sector policy and analysis Financial sector stability Macroprudential policy Macroprudential policy instruments Mutual funds Systemic risk Systemic risk assessment

Frequency:

regular