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The Executive Service of the Commission for the Prevention of Money Laundering and Monetary Offenses (Spanish: Servicio Ejecutivo de la Comisión de Prevención del Blanqueo de Capitales e Infracciones Monetarias, SEPBLAC) is the financial intelligence unit (FIU) of the Spanish Ministry of Economy.
Financial contagion refers to "the spread of market disturbances – mostly on the downside – from one country to the other, a process observed through co-movements in exchange rates, stock prices, sovereign spreads, and capital flows". [1] Financial contagion can be a potential risk for countries who are trying to integrate their financial ...
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.
It is financed by an annual 2.5‰ levy on bank assets. The levies are deposited in three separate funds depending on whether the bank is a retail, cooperative or a savings bank. The Bank of Spain together with the Ministry of Finance may reduce the levy if the total assets of the funds reach 1% of the deposits of the respective banks.
In finance, a spread trade (also known as a relative value trade) is the simultaneous purchase of one security and sale of a related security, called legs, as a unit.Spread trades are usually executed with options or futures contracts as the legs, but other securities are sometimes used.
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In October 2008, the Group announced to acquire 75.65% of Sovereign Bancorp it did not own for approximately US$1.9 billion (€1.4 billion). Because of the 2008 financial crisis at the time, Sovereign's share price had fallen greatly: rather than the $40 per share it would have cost in 2006, Banco Santander ended up paying less than $3 per share.
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