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Sareb [a] is the bad bank of the Spanish government.Its purpose is to manage and disinvest high-risk assets that were transferred to it from the four nationalized Spanish financial institutions (BFA-Bankia, Catalunya Banc, NGC Banco-Banco Gallego and Banco de Valencia).
Satirical banner (in Catalan) at a rally, parodying the President brand of cheese spread with the tagline a president easy to spread (bribe).. The Gürtel case was a major political corruption scandal in Spain that implicated hundreds of officers of the People's Party (PP), Spain's major conservative party, some of whom were subsequently forced to resign or were suspended.
Brigade of Investigation of the Bank of Spain, which assumes the investigation of the crimes related to the falsification of national and foreign currency. Unit attached to the Office of the Special Prosecutor against Corruption and Organized Crime , which will carry out the duties of the Judiciary Police in the attached body.
After 3 years, both banks were put into bankruptcy, a new nationalized bank was created and the assets of the two bankrupt banks and the bank accounts of local account holders were transferred to the new bank and the local depositors were made whole by stealing about $180 million of money belonging foreign depositors, who lost their entire savings.
De-banking, more commonly spelled debanking, also known within the banking industry as de-risking, is the closure of people's or organizations' bank accounts by banks that perceive the account holders to pose a financial, legal, regulatory, or reputational risk to the bank.
A banking crisis is a financial crisis that affects banking activity. Banking crises include bank runs, which affect single banks; banking panics, which affect many banks; and systemic banking crises, in which a country experiences many defaults and financial institutions and corporations face great difficulties repaying contracts. [1]
In fact, the Spanish population considers corruption their second biggest problem, only eclipsed by unemployment. [2] Following Spain's return to democracy after the end of the Franco dictatorship, the judiciary became an independent branch of government (despite being governed by a council chosen by the legislative branch of government). In ...
FROB, the Spanish Executive Resolution Authority (formerly known as Fund for Orderly Bank Restructuring) [1] 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.