Madrid, April 9 (EFE) .- The president of the Comisión Nacional del Mercado de Valores (CNMV), Elvira Rodriguez, and the chief executives of some financial institutions Spanish have agreed today to warn of the negative effects it can have the rise of shadow banking.
In particular, the president of the CNMV has warned of the rise is experienced such entities although in his opinion play key roles, too “is a potential for long-term financial stability threat.”
A warning has also launched the CEO of the Spanish Confederation of Savings Banks (CECA ), José María Méndez, who has calculated that the shadow banking “handles” almost half the assets totaling conventional institutions while the controls that is has to face.
For his part, Vice President of Abanca, Juan Carlos Escotet, has not made explicit reference to the shadow banking, but has said that the financial sector will face some challenges ahead as the emergence of new competitors, including large technology companies.
Escotet and Mendez participated today in the XXII Meeting of the Financial Sector organized by Deloitte, ABC and the Evaluation Society, inaugurated by the President of the CNMV, Madrid, has been on defense of the governor of the Bank of Spain, Luis María Linde, who yesterday supported the economic reforms of the government.
In particular, Linde said yesterday in the same forum, it is not correct to call austerity measures that were adopted to correct unsustainable imbalances, and said the Executive acted “with common sense and patriotism.”
Rodriguez said today agree with the governor, and has said that if “as seen in Greece, you do not have accounts in balance, can not choose “and” where policy is made, the election is public service “that can not be done” if they all payments locked “.
“And that payments are locked is caused by imbalances, so yes, I agree with the governor” has settled.
Similarly, after his speech, Rodriguez has been questioned by Banco de Madrid, and has shown confident that within a month or so can unlock funds manager of the entity.
“I can not say exactly, but to see if the environment of a month for the feast of San Isidro, we have these issues resolved reasonably, “said Rodriguez, who wanted to send a message of reassurance to investors, to ensure that even if the investment is now frozen,” will lift when accounts are changed “and are no longer deposited in Banco Madrid, in bankruptcy.
During the journey has also involved the CEO of the European Mechanism Unica Supervision (MUS), Ramón Quintana, who has said that the agency will focus this year on controlling capital efficiency and defaults of European companies.
“In 2015, the MUS is focusing on several points, including the assessment of governance institutions and their risk appetite, “which are” fundamental “, as well as evaluating the rigor of internal processes, he said.
Also pay attention to the way in which institutions assess quality of their capital, in order to ascertain how they intend to move towards the “fully loaded” (full compliance with all capital requirements of Basel III).
Monitoring the quantity and quality of capital that must have entities on its balance sheet is one of the main challenges of the new European supervisory bodies have very present, as have said the CEO of the ECSC and the vice president of Abanca.
Escotet has warned that the industry has many years ahead regulation, in which we must be cautious with the distribution of dividends, and in which “we must keep delinquency levels in check.”
Despite all this, Abanca is in a comfortable position and is well capitalized, Escotet added.
Another Spanish entities that are in a good time is Bankinter, which according to its CEO, Maria Dolores Dancausa, this year, which celebrates its fiftieth anniversary, the results improve thanks to recur and do not depend on extraordinary operations.
Also, Dancausa been considered to have cushioned the risks and uncertainties policies that had a few months ago, especially after the holding of the first elections to be held this year in Spain
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