UN NUEVO PASO EN LA REFORMA FINANCIERA: ANÁLISIS CRÍTICO DEL REAL DECRETO-LEY 2/2012.

Royal Decree-law 2/2012 represents a new step in a series of reforms of the Spanish financial system which have been put forward as a response to the crisis. As it happened with previous reforms, the new regulation tackles various issues relating to the financial system. The main measure entails strengthening the provisioning obligations related to impairments of real estate assets above the currently existing levels and tries to address doubts in the market on the potential losses hidden in Spanish banks’ balance sheets. Other provisions are designed to foster further consolidation among credit entities, improve the rules applicable to savings banks operating indirectly through banks and set forth new rules on the remuneration of directors and officers of banks benefiting from public support [ABSTRACT FROM AUTHOR]