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Bank of Spain

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Bank of SpainAfter the economic reforms in Spain have been opened up new commercial banks. The Ministry of Finance was able to effectively control the credit system, which was responsible course aimed at encouraging investment. The Bank of Spain has been transformed into the central bank, which acts kak executive body for the implementation of monetary and credit policy in Spain. He has wide powers of inspection and control of private banks in Spain. To control the credit system were set up special organizations which have used such methods of control, kak regulation of interest rates, buying and selling of government securities.

In 1988, Bank of Spain announced that for the first time since 1978 the government approved the establishment of new banks with state participation. Ha that time there were 77 savings banks, which kept 43% of all deposits. In 1991 be allocated to about 100 private and commercial banks in Spain.