Banking System of Spain

Conclusions
Money and all financial operations, actions, information is very important in our everyday life, thus banks play crucial role not only in economy in general, but it also influence each person, living in developed countries. Banking system is the most important system for the economy
because it helps to function. In all economic systems, banks have the leading role in planning and implementing financial policy. (Liakos, 2014). The history of Spanish financial system is the result
of a complex historical process fed by financial crises, regulatory changes emanating from economic doctrine and the experience gained from crises, guidelines for financial policy emanating from political authority, commitments to liberalizing the financial system and, of course, pressure from financial agents who sought to maintain their privileged positions
(Department of Applied Economics V, 2013)It is obvious that Spain has its own characteristics, regulations and structures in monetary and political system, such as like each country has.
However, some regulation, standards are indicated by ESCB and ECB, and are strictly dictated to follow for all the European System of Central Bank country members. Unlike other countries, in
Spain the financial system is a system controlled by the banking sector. This control is not only reflected in the high weight of the credit institutions in the whole financial sector, but also in the
fact that many of the noncredit financial institutions in Spain are owned by the credit institutions (i.e., private banks and the former savings banks). (Department of Applied Economics V, 2013)…