The Spanish government has converted one of its existing regulatory bodies into a new macro-prudential authority financial stability board.
The new body was created out of Spain’s existing Financial Stability Board by a royal decree passed on March 1. It has the abbreviation Amcesfi in Spanish. The Spanish government said Amcesfi will be “a macro-prudential authority with enhanced powers” when it proposed the creation of the new body in November.
Spain’s economy minister will chair the board,