The International Monetary Fund’s Financial Sector Assessment Program in Spain: an overview from a financial stability standpoint

Abstract

This article describes the organisation, implementation and results of the International Monetary Fund’s (IMF) 2024 Financial Sector Assessment Program (FSAP) in Spain, with a focus on issues related to systemic risk analysis and macroprudential policy. In particular, it presents the IMF’s latest recommendations for strengthening the resilience of Spain’s financial system and improving its regulatory and institutional framework. The article closes with an overview of the previous FSAPs in Spain and, by way of comparison, of the most salient points of recent FSAPs in other euro area countries.