• It is the first meeting that has been convened since 2013 and the foundations have been laid for the development of a Macroprudential Supervisory Authority
  • An upcoming call for September and the creation of technical working groups have been set

The Financial Stability Committee (CESFI) has met for the first time since 2013, under the chairmanship of the Minister of Economy and Business, Nadia Calviño. During the appearance in the Congress of Deputies the minister announced her willingness to reactivate this body. The meeting was attended by the governor of the Bank of Spain, Pablo Hernández de Cos, and the president of the National Securities Market Commission (CNMV), Sebastián Albella.

In this meeting that has taken place at the Ministry of Economy and Business, the Secretary of State for Economy and Business Support, Ana de la Cueva, the Secretary General of the Treasury, Carlos San Basilio, the Deputy Governor of the Bank of Spain, Javier Alonso, the vice president of the CNMV, Ana María Martínez-Pina and the general director of Insurance and Pension Funds, Sergio Álvarez. The functions of CESFI secretary have been exercised by Juan Luis Díez, general secretary of Strategic Analysis and International Financial System of the Ministry of Economy and Business.

This first meeting has helped the authorities present to share information and opinions on the current financial situation.

In addition, the bases have been established to progress rapidly in the development of the Macroprudential Supervisory Authority in Spain, an institution that already exists in many of the surrounding countries.

The committee has set a new meeting for the month of September, already under the chairmanship of the Secretary of State for Economy and Business Support. In today's meeting it has been agreed how the actions will be developed from this moment, creating technical working groups to advance the objectives set by the Financial Stability Committee.

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