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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IRBECCorporates" xlink:to="label_IRBECCorporates" xlink:title="label: IRBECCorporates to label_IRBECCorporates"/>
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    <link:label xlink:type="resource" xlink:label="label_IRBECEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IRBECEquity" xml:lang="es" id="label_IRBECEquity">RENTA VARIABLE</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IRBECEquity" xlink:to="label_IRBECEquity" xlink:title="label: IRBECEquity to label_IRBECEquity"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/d-ec-2006-07-01.xsd#d-ec_IRBECInstitutions" xlink:label="IRBECInstitutions" xlink:title="IRBECInstitutions"/>
    <link:label xlink:type="resource" xlink:label="label_IRBECInstitutions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IRBECInstitutions" xml:lang="es" id="label_IRBECInstitutions">INSTITUCIONES</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/d-ec-2006-07-01.xsd#d-ec_ExposureClassesDomain" xlink:label="ExposureClassesDomain" xlink:title="ExposureClassesDomain"/>
    <link:label xlink:type="resource" xlink:label="label_ExposureClassesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExposureClassesDomain" xml:lang="es" id="label_ExposureClassesDomain">CATEGORÍA DE ACTIVOS (DOMINIO)</link:label>
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    <link:label xlink:type="resource" xlink:label="label_IRBECRetailOfWhichSME" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IRBECRetailOfWhichSME" xml:lang="es" id="label_IRBECRetailOfWhichSME">DE LAS QUE: PYMES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IRBECRetailOfWhichSME" xlink:to="label_IRBECRetailOfWhichSME" xlink:title="label: IRBECRetailOfWhichSME to label_IRBECRetailOfWhichSME"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/d-ec-2006-07-01.xsd#d-ec_IRBECOfWhichSpecialisedLending" xlink:label="IRBECOfWhichSpecialisedLending" xlink:title="IRBECOfWhichSpecialisedLending"/>
    <link:label xlink:type="resource" xlink:label="label_IRBECOfWhichSpecialisedLending" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IRBECOfWhichSpecialisedLending" xml:lang="es" id="label_IRBECOfWhichSpecialisedLending">FINANCIACIÓN ESPECIALIZADA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IRBECOfWhichSpecialisedLending" xlink:to="label_IRBECOfWhichSpecialisedLending" xlink:title="label: IRBECOfWhichSpecialisedLending to label_IRBECOfWhichSpecialisedLending"/>
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    <link:label xlink:type="resource" xlink:label="label_IRBECOtherRetail" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IRBECOtherRetail" xml:lang="es" id="label_IRBECOtherRetail">OTRAS EXPOSICIONES MINORISTAS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IRBECOtherRetail" xlink:to="label_IRBECOtherRetail" xlink:title="label: IRBECOtherRetail to label_IRBECOtherRetail"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/d-ec-2006-07-01.xsd#d-ec_IRBECQualifyingRevolving" xlink:label="IRBECQualifyingRevolving" xlink:title="IRBECQualifyingRevolving"/>
    <link:label xlink:type="resource" xlink:label="label_IRBECQualifyingRevolving" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IRBECQualifyingRevolving" xml:lang="es" id="label_IRBECQualifyingRevolving">EXPOSICIONES MINORISTAS RENOVABLES ELEGIBLES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IRBECQualifyingRevolving" xlink:to="label_IRBECQualifyingRevolving" xlink:title="label: IRBECQualifyingRevolving to label_IRBECQualifyingRevolving"/>
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    <link:label xlink:type="resource" xlink:label="label_IRBECRetail" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IRBECRetail" xml:lang="es" id="label_IRBECRetail">MINORISTAS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IRBECRetail" xlink:to="label_IRBECRetail" xlink:title="label: IRBECRetail to label_IRBECRetail"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/d-ec-2006-07-01.xsd#d-ec_IRBECSecuredByRealEstate" xlink:label="IRBECSecuredByRealEstate" xlink:title="IRBECSecuredByRealEstate"/>
    <link:label xlink:type="resource" xlink:label="label_IRBECSecuredByRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IRBECSecuredByRealEstate" xml:lang="es" id="label_IRBECSecuredByRealEstate">EXPOSICIONES MINORISTAS CUBIERTAS CON HIPOTECAS SOBRE INMUEBLES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IRBECSecuredByRealEstate" xlink:to="label_IRBECSecuredByRealEstate" xlink:title="label: IRBECSecuredByRealEstate to label_IRBECSecuredByRealEstate"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/d-ec-2006-07-01.xsd#d-ec_IRBECCorporatesOfWhichSME" xlink:label="IRBECCorporatesOfWhichSME" xlink:title="IRBECCorporatesOfWhichSME"/>
    <link:label xlink:type="resource" xlink:label="label_IRBECCorporatesOfWhichSME" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IRBECCorporatesOfWhichSME" xml:lang="es" id="label_IRBECCorporatesOfWhichSME">DE LAS QUE: PYMES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IRBECCorporatesOfWhichSME" xlink:to="label_IRBECCorporatesOfWhichSME" xlink:title="label: IRBECCorporatesOfWhichSME to label_IRBECCorporatesOfWhichSME"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/d-ec-2006-07-01.xsd#d-ec_TotalIRBExposureClass" xlink:label="TotalIRBExposureClass" xlink:title="TotalIRBExposureClass"/>
    <link:label xlink:type="resource" xlink:label="label_TotalIRBExposureClass" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TotalIRBExposureClass" xml:lang="es" id="label_TotalIRBExposureClass">TOTAL CATEGORÍA DE ACTIVOS BAJO EL MÉTODO IRB (EXCLUYENDO POSICIONES EN TITULIZACIONES)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TotalIRBExposureClass" xlink:to="label_TotalIRBExposureClass" xlink:title="label: TotalIRBExposureClass to label_TotalIRBExposureClass"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/d-ec-2006-07-01.xsd#d-ec_SAECCentralGovernmentsCentralBanks" xlink:label="SAECCentralGovernmentsCentralBanks" xlink:title="SAECCentralGovernmentsCentralBanks"/>
    <link:label xlink:type="resource" xlink:label="label_SAECCentralGovernmentsCentralBanks" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SAECCentralGovernmentsCentralBanks" xml:lang="es" id="label_SAECCentralGovernmentsCentralBanks">ADMINISTRACIONES CENTRALES Y BANCOS CENTRALES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SAECCentralGovernmentsCentralBanks" xlink:to="label_SAECCentralGovernmentsCentralBanks" xlink:title="label: SAECCentralGovernmentsCentralBanks to label_SAECCentralGovernmentsCentralBanks"/>
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    <link:label xlink:type="resource" xlink:label="label_SAECRegionalGovernmentsLocalAuthorities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SAECRegionalGovernmentsLocalAuthorities" xml:lang="es" id="label_SAECRegionalGovernmentsLocalAuthorities">ADMINISTRACIONES REGIONALES Y AUTORIDADES LOCALES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SAECRegionalGovernmentsLocalAuthorities" xlink:to="label_SAECRegionalGovernmentsLocalAuthorities" xlink:title="label: SAECRegionalGovernmentsLocalAuthorities to label_SAECRegionalGovernmentsLocalAuthorities"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/d-ec-2006-07-01.xsd#d-ec_SAECAdministrativeBodiesNonCommercialUndertakings" xlink:label="SAECAdministrativeBodiesNonCommercialUndertakings" xlink:title="SAECAdministrativeBodiesNonCommercialUndertakings"/>
    <link:label xlink:type="resource" xlink:label="label_SAECAdministrativeBodiesNonCommercialUndertakings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SAECAdministrativeBodiesNonCommercialUndertakings" xml:lang="es" id="label_SAECAdministrativeBodiesNonCommercialUndertakings">ENTIDADES DEL SECTOR PÚBLICO Y OTRAS INSTITUCIONES PUBLICAS SIN FINES DE LUCRO </link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SAECAdministrativeBodiesNonCommercialUndertakings" xlink:to="label_SAECAdministrativeBodiesNonCommercialUndertakings" xlink:title="label: SAECAdministrativeBodiesNonCommercialUndertakings to label_SAECAdministrativeBodiesNonCommercialUndertakings"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/d-ec-2006-07-01.xsd#d-ec_SAECMultilateralDevelopmentBanks" xlink:label="SAECMultilateralDevelopmentBanks" xlink:title="SAECMultilateralDevelopmentBanks"/>
    <link:label xlink:type="resource" xlink:label="label_SAECMultilateralDevelopmentBanks" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SAECMultilateralDevelopmentBanks" xml:lang="es" id="label_SAECMultilateralDevelopmentBanks">BANCOS MULTILATERALES DE DESARROLLO</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SAECMultilateralDevelopmentBanks" xlink:to="label_SAECMultilateralDevelopmentBanks" xlink:title="label: SAECMultilateralDevelopmentBanks to label_SAECMultilateralDevelopmentBanks"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/d-ec-2006-07-01.xsd#d-ec_SAECInternationalOrganisations" xlink:label="SAECInternationalOrganisations" xlink:title="SAECInternationalOrganisations"/>
    <link:label xlink:type="resource" xlink:label="label_SAECInternationalOrganisations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SAECInternationalOrganisations" xml:lang="es" id="label_SAECInternationalOrganisations">ORGANIZACIONES INTERNACIONALES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SAECInternationalOrganisations" xlink:to="label_SAECInternationalOrganisations" xlink:title="label: SAECInternationalOrganisations to label_SAECInternationalOrganisations"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/d-ec-2006-07-01.xsd#d-ec_SAECInstitutions" xlink:label="SAECInstitutions" xlink:title="SAECInstitutions"/>
    <link:label xlink:type="resource" xlink:label="label_SAECInstitutions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SAECInstitutions" xml:lang="es" id="label_SAECInstitutions">INSTITUCIONES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SAECInstitutions" xlink:to="label_SAECInstitutions" xlink:title="label: SAECInstitutions to label_SAECInstitutions"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/d-ec-2006-07-01.xsd#d-ec_SAECCorporates" xlink:label="SAECCorporates" xlink:title="SAECCorporates"/>
    <link:label xlink:type="resource" xlink:label="label_SAECCorporates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SAECCorporates" xml:lang="es" id="label_SAECCorporates">EMPRESAS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SAECCorporates" xlink:to="label_SAECCorporates" xlink:title="label: SAECCorporates to label_SAECCorporates"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/d-ec-2006-07-01.xsd#d-ec_SAECRetail" xlink:label="SAECRetail" xlink:title="SAECRetail"/>
    <link:label xlink:type="resource" xlink:label="label_SAECRetail" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SAECRetail" xml:lang="es" id="label_SAECRetail">MINORISTAS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SAECRetail" xlink:to="label_SAECRetail" xlink:title="label: SAECRetail to label_SAECRetail"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/d-ec-2006-07-01.xsd#d-ec_SAECSecuredOnRealEstateProperty" xlink:label="SAECSecuredOnRealEstateProperty" xlink:title="SAECSecuredOnRealEstateProperty"/>
    <link:label xlink:type="resource" xlink:label="label_SAECSecuredOnRealEstateProperty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SAECSecuredOnRealEstateProperty" xml:lang="es" id="label_SAECSecuredOnRealEstateProperty">EXPOSICIONES GARANTIZADAS CON INMUEBLES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SAECSecuredOnRealEstateProperty" xlink:to="label_SAECSecuredOnRealEstateProperty" xlink:title="label: SAECSecuredOnRealEstateProperty to label_SAECSecuredOnRealEstateProperty"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/d-ec-2006-07-01.xsd#d-ec_SAECPastDueItems" xlink:label="SAECPastDueItems" xlink:title="SAECPastDueItems"/>
    <link:label xlink:type="resource" xlink:label="label_SAECPastDueItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SAECPastDueItems" xml:lang="es" id="label_SAECPastDueItems">EXPOSICIONES EN SITUACIÓN DE MORA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SAECPastDueItems" xlink:to="label_SAECPastDueItems" xlink:title="label: SAECPastDueItems to label_SAECPastDueItems"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/d-ec-2006-07-01.xsd#d-ec_SAECItemsBelongingRegulatoryHighRiskCategories" xlink:label="SAECItemsBelongingRegulatoryHighRiskCategories" xlink:title="SAECItemsBelongingRegulatoryHighRiskCategories"/>
    <link:label xlink:type="resource" xlink:label="label_SAECItemsBelongingRegulatoryHighRiskCategories" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SAECItemsBelongingRegulatoryHighRiskCategories" xml:lang="es" id="label_SAECItemsBelongingRegulatoryHighRiskCategories">EXPOSICIONES DE ALTO RIESGO</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SAECItemsBelongingRegulatoryHighRiskCategories" xlink:to="label_SAECItemsBelongingRegulatoryHighRiskCategories" xlink:title="label: SAECItemsBelongingRegulatoryHighRiskCategories to label_SAECItemsBelongingRegulatoryHighRiskCategories"/>
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    <link:label xlink:type="resource" xlink:label="label_SAECCoveredBonds" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SAECCoveredBonds" xml:lang="es" id="label_SAECCoveredBonds">BONOS GARANTIZADOS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SAECCoveredBonds" xlink:to="label_SAECCoveredBonds" xlink:title="label: SAECCoveredBonds to label_SAECCoveredBonds"/>
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    <link:label xlink:type="resource" xlink:label="label_TotalSAExposureClass" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TotalSAExposureClass" xml:lang="es" id="label_TotalSAExposureClass">TOTAL CATEGORÍAS DE ACTIVOS BAJO EL MÉTODO ESTÁNDAR (EXCLUYENDO POSICIONES EN TITULIZACIONES)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TotalSAExposureClass" xlink:to="label_TotalSAExposureClass" xlink:title="label: TotalSAExposureClass to label_TotalSAExposureClass"/>
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