Regulatory Alerts2023-03-21
Law 11/2015, of June 18, on the Recovery and Resolution of Credit Institutions and Investment Firms (Correction of Errors)
The Spanish State enacted Law 11/2015 to establish a comprehensive framework for the recovery and resolution of credit institutions and investment firms, ensuring financial stability while protecting taxpayers from bearing losses. The legislation empowers the National Resolution Fund (FROB) to implement early intervention measures, resolution plans, and specific resolution tools, including internal bail-in mechanisms, to manage failing entities in an orderly manner. It defines the legal regime, powers, and sanctions associated with these processes, aligning national regulations with European Union directives on financial sector stability.
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