imf lauds spain\s financial sector reforms
Last Updated : GMT 17:31:38
Arab Today, arab today
Arab Today, arab today

IMF lauds Spain\'s financial sector reforms

Arab Today, arab today

Arab Today, arab today IMF lauds Spain\'s financial sector reforms

Washington - AFP

The International Monetary Fund said Friday that Spain had made \"important progress\" in reforming its financial sector, meeting all deadlines under its deal for support from the European Union. \"All deadlines established in the Memorandum of Understanding, agreed between the Spanish and European authorities, have been met. It will be important to maintain the momentum as challenging steps lie ahead,\" the IMF said. In a report on its first mission to monitor the banking reforms, a role the IMF took on under the July deal for the EU to help Spain recapitalize its banks, the global lender said Spain had moved ahead in five key areas: - Madrid\'s position in financial markets has improved. - \"Robust\" stress tests of the banks have been performed, providing a sound basis for identifying which banks need help. - The main outlines of an Asset Management Company have been laid out, though Spain has to move forward to get it working by the deadline at the end of November. - A new law on burden sharing and resolution is a \"significant achievement\". - New consumer protection and securities legislation marks real progress in developing a better regulatory framework. More needs to be done, the IMF said. Banks\' capital shortfalls \"need to be quickly made up, recently created burden-sharing tools applied, and non-viable banks promptly wound down. \"New mergers that do not clearly generate value and undue constraints on system-wide credit supply should be avoided.\" In Brussels, the EU and European Central Bank said overall market conditions in Spain had improved but parts of the banking sector faced \"very acute\" challenges which \"warrant decisive policy action,\" as outlined in the MOU. It was however, more positive on the AMC -- the \'bad bank\' which will hold the bad debts now clogging up the banking system, saying the mission had reached enough agreement with Madrid to allow it to be operational by December 1. EU economic affairs commissioner Olli Rehn meanwhile welcomed the findings of the mission as \"another step towards the thorough repair and reform of the banking system in Spain, which is in turn an essential building block for a return of investor and consumer confidence.\"

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

imf lauds spain\s financial sector reforms imf lauds spain\s financial sector reforms

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

imf lauds spain\s financial sector reforms imf lauds spain\s financial sector reforms

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today PNG police start removing refugees

GMT 03:00 2017 Friday ,24 November

PNG police start removing refugees
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Solaf happy for participating in “Hotline”

GMT 07:56 2017 Wednesday ,22 November

Solaf happy for participating in “Hotline”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 09:12 2017 Thursday ,23 November

4 in 10 cancers due to modifiable risk

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday