“The Spanish banking sector is resilient and strong capital and liquidity positions. In fact, the Spanish banking sector has shown remarkable results over the past year, due to the commercial banking business model for retail customers who make up the majority in our financial system.”
In this sense, De Cos took a deep dive into the position of the European Central Bank (ECB) published this Monday. “We Ready to respond as and when needed “To maintain price stability and financial stability in the euro area,” he said.
Upon the bankruptcy of Credit Suisse, Fifth bank went bankrupt in recent weeks (following Silvergate, SVB, Signature Bank and First Republic Bank), De Cos appreciated the “quick and strong” decisions of the US and Swiss authorities.
However, he warned that the order of compensation in Europe should be the first tool for CET1 instruments, including shareholders, to alleviate the problems of organizations. But later it would switch to AT1 devices.
De Cos, who chairs the Basel Committee on Banking Supervision, also stated that this body will carry out a study. analysis of “recent developments” to “learn”.