Spain in the digital era

Letter from the Editors

Crypto assets

The crypto assets economy:
Reality, myth and opportunity

The recent and rapid growth of the global crypto assets market has allowed it to attain substantial relative size – below only that of the leading tech ...

Fintech sandbox

The regulatory sandbox and
potential opportunities for Spanish FinTechs

Regulatory sandboxes, one of the best means of accelerating financial innovation while controlling risks, are already operating successfully around the world. ...

Equity markets

Spanish, Eurozone and US banks:
The link between market valuations and profitability

The advent of the Banking Union has helped drive a substantial improvement in the main bank performance ratios, which has in turn translated into gains in ...

Non-performing exposures

New coverage requirements and accounting rules: Impact on Spanish banks’ non-performing exposures

The overlap of recent EU guidelines on coverage levels for non-performing exposures (NPEs) with the implementation of new accounting standards is expected to ...

Fiscal consolidation

Progress on fiscal consolidation:
Risk of non-compliance and complacency

The dichotomy of strong economic performance and political gridlock in Spain has resulted in fiscal consolidation in line with established targets, but below ...

Fiscal policy

Assessing the role of Spain’s
AIReF in the context of EU fiscal policy

The work of the AIReF has helped to support progress on budget stability and, by increasing the reputational costs of non-complying public administrations, it ...


The potential impact on Spain
from recent protectionist measures

Recent US trade measures raise the risk of heightened protectionism. Spain’s increased integration into the global value chain leaves the country exposed ...

Labour markets

Spain’s gender pay gap
and gender bias in a reduced workweek

Despite recent progress, Spain continues to demonstrate a sizeable gender pay gap, albeit similar in magnitude to neighbouring countries. Further narrowing ...

Regulation and Economic Outlook
Recent key developments in the area of Spanish financial regulation
Prepared by the Regulation and Research Department of the Spanish Confederation of Savings Banks (CECA)
Spanish economic forecasts panel: May 2018
Funcas Economc Trends and Statistics Department
Key Facts
Economic Indicators
Financial System Indicators
Social Indicators