This document is an excerpt from the EUR-Lex website
Decision 2012/443/EU – specific measures to reinforce financial stability in Spain
It approved a financial assistance programme to help Spain recapitalise and restructure its banking sector.
It has applied since 24 July 2012.
On 25 June 2012, the Spanish government requested external financial assistance under the terms of the financial assistance programme for the recapitalisation of financial institutions by the European Financial Stability Facility.
The Heads of State and Government at the Euro Area Summit of 29 June 2012 agreed that the assistance would subsequently come from the European Stability Mechanism, but without gaining the same top priority for repayment as other European Stability Mechanism loans. The memorandum of understanding was signed on 23 July. Its full implementation took into account all other relevant considerations contained in the Euro Area Summit statement of 29 June 2012.
The operation of the programme was closely monitored by the Commission and the ECB; also partly by the EBA and the European Financial Stability Facility. The International Monetary Fund was also closely involved.
For further information, see:
Council Decision 2012/443/EU of 23 July 2012 addressed to Spain on specific measures to reinforce financial stability (OJ L 202, 28.7.2012, pp. 17–20).
Council Regulation (EU) No 407/2010 of 11 May 2010 establishing a European financial stabilisation mechanism (OJ L 118, 12.5.2010, pp. 1–4).
Successive amendments to Regulation (EU) No 407/2010 have been incorporated into the original document. This consolidated version is of documentary value only.
Regulation (EU) No 472/2013 of the European Parliament and of the Council of 21 May 2013 on the strengthening of economic and budgetary surveillance of Member States in the euro area experiencing or threatened with serious difficulties with respect to their financial stability (OJ L 140, 27.5.2013, pp. 1–10).
last update 02.06.2022