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Banco de España reinforces the control

In the wake of the financial crisis, Europe’s banks are now being more thoroughly controlled.

Banco de Espana Madrid

Banco de España
Photo: Wikipedia

Following the mandate of the European Central Bank in Frankfurt, which applies to all countries of the Union the 120 largest banks are to be monitored closely, the Spanish central bank is now reinforcing to control the largest banks in the country; BBVA, Bankia, CaixaBank and Santander.

88 people have been hired just to control these four banks, and aims to have a workforce of 444 people who control the activities of all the country’s banks. This team will include, among other things, engineers, mathematicians and administrative staff. The 120 largest banks in the EU will be checked by staff from Frankfurt and domestic staff.