Regulatory Alerts2022-01-19
Law 9/2012 of 14 November on the Restructuring and Resolution of Credit Institutions
The Spanish State enacted Law 9/2012 to establish a comprehensive legal framework for the early intervention, restructuring, and resolution of credit institutions to ensure financial stability and protect depositors. The legislation empowers the Bank Restructuring and Resolution Fund (FROB) to utilize specific resolution tools, such as the bridge bank and asset sale instruments, while defining the funding mechanisms and governance of the fund. It also creates the Asset Management Company (SAREB) to manage non-performing assets and includes transitional and final provisions modifying various existing financial and tax regulations.
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