Regulatory Alerts2011-10-15
Royal Decree-Law 16/2011, of October 14, creating the Deposit Guarantee Fund for Credit Institutions
The Spanish Government, through Royal Decree-Law 16/2011, of October 14, creates a unified Deposit Guarantee Fund for Credit Institutions, dissolving the three existing sector-specific funds. This new fund is tasked with guaranteeing deposits and reinforcing the solvency and functioning of credit institutions in difficulties, aiming to ensure the financial sector itself covers the costs of its restructuring. The decree-law is considered an urgent and essential measure to strengthen confidence in the Spanish financial system and finalize its recapitalization and restructuring.
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