The Bank of Spain has announced changes to its banking supervision directorate as it aims to comply with the conditionality of its financial support from Europe and prepare for the introduction of the European single supervisory mechanism.
In July 2012, Spain signed a memorandum of understanding with the European Union (EU), which specified the criteria that must be met to receive up to €100 billion ($130 billion) of financial support via the European Stability Mechanism. The memorandum specifie
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