FROB at a glance
The role of FROB has evolved from its origins to the new scenario of the Banking Union in which it has been operating since 2015. In origin, it began as a “fund”1 in the strict sense of the word, funded with resources from the DGF and with public money to support certain integration processes of former savings banks. Currently, within the resolution framework defined by Law 11/2015 and by EU Regulation 806/2014, FROB is the Spanish Resolution Authority in the executive phase, financed exclusively with private contributions from entities and which is integrated into the European network of authorities led from Brussels by the Single Resolution Board (SRB).
Its fundamental mission is to manage the execution of the resolution processes of credit institutions and/or investment service companies undertaken in our country. At the same time, FROB is still involved in concluding the processes undertaken in an earlier stage, such as carrying out the divestment of the State’s stake in BFA as well as managing its stake in Sareb.