A Financial Sector Assessment Program1 (FSAP) team led by the Monetary and Capital Markets Department of the IMF has visited Spain between February 1–21 and April 12–25, 2012, in order to conduct an update of the Fund’s 2006 assessment of the soundness and stability of Spain’s financial sector. Such assessments are undertaken about every five years. The following provides some initial findings from the mission. These findings are subject to further review, and will also serve as background to the Article IV discussions to be held with the IMF’s European Department in late spring 2012. The Spanish authorities are ... (full story)