José Ramón Couso, partner and banking sector expert, comments in Economist&Jurist on the appointment of José Luis Escrivá as the new Governor of the Bank of Spain.
Our expert notes: “It was essential that, before the European Central Bank meeting in Frankfurt on September 12, our country had filled the position of Governor of the Bank of Spain, because the current term of Deputy Governor Margarita Delgado is coming to an end. It would not have been positive for the appointment to be delayed and the position to remain vacant.”
He adds: “During the six-year term of Pablo Hernández de Cos, the outgoing governor, the banking sector has been strengthened, and the supervisor has demonstrated great technical management by implementing important proposals.”
This appointment to the Bank of Spain, in addition to the controversy, also faces many challenges, as Couso explains: “As with other institutions in the financial sector, coordination with the CNMV, the FROB, the Deposit Guarantee Fund, the SEPBLAC, and, of course, with European institutions is essential.”
He adds: “It is necessary to implement banking regulations, which are becoming increasingly abundant and complex, not only because of positive law, but also because of EBA recommendations.”
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