FROB as the national executive resolution authority

FROB as the national executive resolution authority

Law 11/2015 led to a transformation in the organisational structure, governance and functions of FROB. From an operational perspective, in this new stage, FROB continues to be responsible for completion of the restructuring process in progress, which 10 years after its creation basically includes monitoring the holdings in BFA-Bankia and Sareb, as well as the guarantees granted in previous sale processes. However, this activity coexists with its new functions as executive resolution authority within the European SRM and cooperating with other Spanish preventive authorities (Bank of Spain and the CNMV), within Spain’s institutional framework.