Regulatory Alerts2019-03-02
Royal Decree 102/2019 creating the Macroprudential Authority Financial Stability Council, establishing its legal regime and developing macroprudential tools
The Spanish Ministry of Economy and Enterprise issued Royal Decree 102/2019 to create the Macroprudential Authority Financial Stability Council (AMCESFI) as a collegiate body tasked with identifying, preventing, and mitigating systemic financial risks. The decree establishes the authority's structure, composition, and functions, including the power to issue opinions, alerts, and recommendations to sectoral supervisors such as the Bank of Spain, the CNMV, and the General Directorate of Insurance and Pension Funds. Additionally, it develops specific macroprudential tools and mandates that their adoption, recalibration, or deactivation be notified to the AMCESFI prior to implementation.
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