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IMF: Spain – Financial System Stability Assessment

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Spain – Financial System Stability Assessment, June 2012 [This paper was prepared based on the information available at the time it was completed on May 30, 2012. The views expressed in this document are those of the staff team and do not necessarily reflect the views of the government of Spain or the Executive Board of the IMF.]

  • “The past four years have witnessed a crisis in the Spanish financial sector unprecedented in its modern history. While external factors contributed to the turmoil, a domestic real estate boom-bust exposed weaknesses in the savings bank sector, shortcomings in the policy and regulatory framework, and an over-reliance on wholesale funding.”
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