<?xml version="1.0" encoding="UTF-8"?>
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<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:es-be-p-ss="http://www.bde.es/es/fr/esrs/corep/3-2008/2008-05-22/es-be-p-ss" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xlink="http://www.w3.org/1999/xlink" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-ss-2006-07-01.xsd#p-ss_ValueAdjustmentsProvisions" xlink:label="ValueAdjustmentsProvisions" xlink:title="ValueAdjustmentsProvisions"/>
    <link:label xlink:type="resource" xlink:label="label_ValueAdjustmentsProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ValueAdjustmentsProvisions" xml:lang="es" id="label_ValueAdjustmentsProvisions">(-) CORRECCIONES DE VALOR POR DETERIORO DE ACTIVOS Y PROVISIONES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ValueAdjustmentsProvisions" xlink:to="label_ValueAdjustmentsProvisions" xlink:title="label: ValueAdjustmentsProvisions to label_ValueAdjustmentsProvisions"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-ss-2006-07-01.xsd#p-ss_ExposureNetValueAdjustmentsProvisions" xlink:label="ExposureNetValueAdjustmentsProvisions" xlink:title="ExposureNetValueAdjustmentsProvisions"/>
    <link:label xlink:type="resource" xlink:label="label_ExposureNetValueAdjustmentsProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExposureNetValueAdjustmentsProvisions" xml:lang="es" id="label_ExposureNetValueAdjustmentsProvisions">EXPOSICIÓN NETA DE CORRECCIONES DE VALOR POR DETERIORO DE ACTIVOS Y PROVISIONES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExposureNetValueAdjustmentsProvisions" xlink:to="label_ExposureNetValueAdjustmentsProvisions" xlink:title="label: ExposureNetValueAdjustmentsProvisions to label_ExposureNetValueAdjustmentsProvisions"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-ss-2006-07-01.xsd#p-ss_ExposureValueRiskWeightBreakdownRatedCreditQualitySteps1to4" xlink:label="ExposureValueRiskWeightBreakdownRatedCreditQualitySteps1to4" xlink:title="ExposureValueRiskWeightBreakdownRatedCreditQualitySteps1to4"/>
    <link:label xlink:type="resource" xlink:label="label_ExposureValueRiskWeightBreakdownRatedCreditQualitySteps1to4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExposureValueRiskWeightBreakdownRatedCreditQualitySteps1to4" xml:lang="es" id="label_ExposureValueRiskWeightBreakdownRatedCreditQualitySteps1to4">CON CALIFICACIÓN CREDITICIA (NIVELES DE CALIDAD CREDITICIA 1 A 4 A LARGO PLAZO Y 1 A 3 A CORTO PLAZO)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExposureValueRiskWeightBreakdownRatedCreditQualitySteps1to4" xlink:to="label_ExposureValueRiskWeightBreakdownRatedCreditQualitySteps1to4" xlink:title="label: ExposureValueRiskWeightBreakdownRatedCreditQualitySteps1to4 to label_ExposureValueRiskWeightBreakdownRatedCreditQualitySteps1to4"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-ss-2006-07-01.xsd#p-ss_ExposureValueRiskWeightBreakdownRated20Percent" xlink:label="ExposureValueRiskWeightBreakdownRated20Percent" xlink:title="ExposureValueRiskWeightBreakdownRated20Percent"/>
    <link:label xlink:type="resource" xlink:label="label_ExposureValueRiskWeightBreakdownRated20Percent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExposureValueRiskWeightBreakdownRated20Percent" xml:lang="es" id="label_ExposureValueRiskWeightBreakdownRated20Percent">20%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExposureValueRiskWeightBreakdownRated20Percent" xlink:to="label_ExposureValueRiskWeightBreakdownRated20Percent" xlink:title="label: ExposureValueRiskWeightBreakdownRated20Percent to label_ExposureValueRiskWeightBreakdownRated20Percent"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-ss-2006-07-01.xsd#p-ss_ExposureValueRiskWeightBreakdownRated50Percent" xlink:label="ExposureValueRiskWeightBreakdownRated50Percent" xlink:title="ExposureValueRiskWeightBreakdownRated50Percent"/>
    <link:label xlink:type="resource" xlink:label="label_ExposureValueRiskWeightBreakdownRated50Percent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExposureValueRiskWeightBreakdownRated50Percent" xml:lang="es" id="label_ExposureValueRiskWeightBreakdownRated50Percent">50%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExposureValueRiskWeightBreakdownRated50Percent" xlink:to="label_ExposureValueRiskWeightBreakdownRated50Percent" xlink:title="label: ExposureValueRiskWeightBreakdownRated50Percent to label_ExposureValueRiskWeightBreakdownRated50Percent"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-ss-2006-07-01.xsd#p-ss_ExposureValueRiskWeightBreakdownRated100Percent" xlink:label="ExposureValueRiskWeightBreakdownRated100Percent" xlink:title="ExposureValueRiskWeightBreakdownRated100Percent"/>
    <link:label xlink:type="resource" xlink:label="label_ExposureValueRiskWeightBreakdownRated100Percent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExposureValueRiskWeightBreakdownRated100Percent" xml:lang="es" id="label_ExposureValueRiskWeightBreakdownRated100Percent">100%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExposureValueRiskWeightBreakdownRated100Percent" xlink:to="label_ExposureValueRiskWeightBreakdownRated100Percent" xlink:title="label: ExposureValueRiskWeightBreakdownRated100Percent to label_ExposureValueRiskWeightBreakdownRated100Percent"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-ss-2006-07-01.xsd#p-ss_ExposureValueRiskWeightBreakdownRated350Percent" xlink:label="ExposureValueRiskWeightBreakdownRated350Percent" xlink:title="ExposureValueRiskWeightBreakdownRated350Percent"/>
    <link:label xlink:type="resource" xlink:label="label_ExposureValueRiskWeightBreakdownRated350Percent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExposureValueRiskWeightBreakdownRated350Percent" xml:lang="es" id="label_ExposureValueRiskWeightBreakdownRated350Percent">350%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExposureValueRiskWeightBreakdownRated350Percent" xlink:to="label_ExposureValueRiskWeightBreakdownRated350Percent" xlink:title="label: ExposureValueRiskWeightBreakdownRated350Percent to label_ExposureValueRiskWeightBreakdownRated350Percent"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-ss-2006-07-01.xsd#p-ss_ExposureValueRiskWeightBreakdown1250Percent" xlink:label="ExposureValueRiskWeightBreakdown1250Percent" xlink:title="ExposureValueRiskWeightBreakdown1250Percent"/>
    <link:label xlink:type="resource" xlink:label="label_ExposureValueRiskWeightBreakdown1250Percent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExposureValueRiskWeightBreakdown1250Percent" xml:lang="es" id="label_ExposureValueRiskWeightBreakdown1250Percent">1250%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExposureValueRiskWeightBreakdown1250Percent" xlink:to="label_ExposureValueRiskWeightBreakdown1250Percent" xlink:title="label: ExposureValueRiskWeightBreakdown1250Percent to label_ExposureValueRiskWeightBreakdown1250Percent"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-ss-2006-07-01.xsd#p-ss_ExposureValueRiskWeightBreakdownRated1250Percent" xlink:label="ExposureValueRiskWeightBreakdownRated1250Percent" xlink:title="ExposureValueRiskWeightBreakdownRated1250Percent"/>
    <link:label xlink:type="resource" xlink:label="label_ExposureValueRiskWeightBreakdownRated1250Percent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExposureValueRiskWeightBreakdownRated1250Percent" xml:lang="es" id="label_ExposureValueRiskWeightBreakdownRated1250Percent">CON CALIFICACIÓN CREDITICIA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExposureValueRiskWeightBreakdownRated1250Percent" xlink:to="label_ExposureValueRiskWeightBreakdownRated1250Percent" xlink:title="label: ExposureValueRiskWeightBreakdownRated1250Percent to label_ExposureValueRiskWeightBreakdownRated1250Percent"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-ss-2006-07-01.xsd#p-ss_ExposureValueRiskWeightBreakdownUnrated1250Percent" xlink:label="ExposureValueRiskWeightBreakdownUnrated1250Percent" xlink:title="ExposureValueRiskWeightBreakdownUnrated1250Percent"/>
    <link:label xlink:type="resource" xlink:label="label_ExposureValueRiskWeightBreakdownUnrated1250Percent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExposureValueRiskWeightBreakdownUnrated1250Percent" xml:lang="es" id="label_ExposureValueRiskWeightBreakdownUnrated1250Percent">SIN CALIFICACIÓN CREDITICIA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExposureValueRiskWeightBreakdownUnrated1250Percent" xlink:to="label_ExposureValueRiskWeightBreakdownUnrated1250Percent" xlink:title="label: ExposureValueRiskWeightBreakdownUnrated1250Percent to label_ExposureValueRiskWeightBreakdownUnrated1250Percent"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-ss-2006-07-01.xsd#p-ss_ExposureValueRiskWeightBreakdownLookThrough" xlink:label="ExposureValueRiskWeightBreakdownLookThrough" xlink:title="ExposureValueRiskWeightBreakdownLookThrough"/>
    <link:label xlink:type="resource" xlink:label="label_ExposureValueRiskWeightBreakdownLookThrough" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExposureValueRiskWeightBreakdownLookThrough" xml:lang="es" id="label_ExposureValueRiskWeightBreakdownLookThrough">MÉTODOS QUE UTILIZAN LA PONDERACIÓN DE RIESGO DE LAS EXPOSICIONES TITULIZADAS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExposureValueRiskWeightBreakdownLookThrough" xlink:to="label_ExposureValueRiskWeightBreakdownLookThrough" xlink:title="label: ExposureValueRiskWeightBreakdownLookThrough to label_ExposureValueRiskWeightBreakdownLookThrough"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-ss-2006-07-01.xsd#p-ss_ExposureValueRiskWeightBreakdownLookThroughOfWhichSecondLossABCP" xlink:label="ExposureValueRiskWeightBreakdownLookThroughOfWhichSecondLossABCP" xlink:title="ExposureValueRiskWeightBreakdownLookThroughOfWhichSecondLossABCP"/>
    <link:label xlink:type="resource" xlink:label="label_ExposureValueRiskWeightBreakdownLookThroughOfWhichSecondLossABCP" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExposureValueRiskWeightBreakdownLookThroughOfWhichSecondLossABCP" xml:lang="es" id="label_ExposureValueRiskWeightBreakdownLookThroughOfWhichSecondLossABCP">DEL QUE: POSICIONES DE SEGUNDA PÉRDIDA EN PROGRAMAS ABCP</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExposureValueRiskWeightBreakdownLookThroughOfWhichSecondLossABCP" xlink:to="label_ExposureValueRiskWeightBreakdownLookThroughOfWhichSecondLossABCP" xlink:title="label: ExposureValueRiskWeightBreakdownLookThroughOfWhichSecondLossABCP to label_ExposureValueRiskWeightBreakdownLookThroughOfWhichSecondLossABCP"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-ss-2006-07-01.xsd#p-ss_NetExposureAfterCRMSubstitutionEffectsPreConversionFactors" xlink:label="NetExposureAfterCRMSubstitutionEffectsPreConversionFactors" xlink:title="NetExposureAfterCRMSubstitutionEffectsPreConversionFactors"/>
    <link:label xlink:type="resource" xlink:label="label_NetExposureAfterCRMSubstitutionEffectsPreConversionFactors" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NetExposureAfterCRMSubstitutionEffectsPreConversionFactors" xml:lang="es" id="label_NetExposureAfterCRMSubstitutionEffectsPreConversionFactors">EXPOSICIÓN NETA REASIGNADA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetExposureAfterCRMSubstitutionEffectsPreConversionFactors" xlink:to="label_NetExposureAfterCRMSubstitutionEffectsPreConversionFactors" xlink:title="label: NetExposureAfterCRMSubstitutionEffectsPreConversionFactors to label_NetExposureAfterCRMSubstitutionEffectsPreConversionFactors"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-ss-2006-07-01.xsd#p-ss_BreakdownExposureValueSubjectRiskWeights" xlink:label="BreakdownExposureValueSubjectRiskWeights" xlink:title="BreakdownExposureValueSubjectRiskWeights"/>
    <link:label xlink:type="resource" xlink:label="label_BreakdownExposureValueSubjectRiskWeights" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BreakdownExposureValueSubjectRiskWeights" xml:lang="es" id="label_BreakdownExposureValueSubjectRiskWeights"> DISTRIBUCIÓN DEL VALOR DE LA EXPOSICIÓN SUJETO A PONDERACIONES DE RIESGO POR PONDERACIONES DE RIESGO</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BreakdownExposureValueSubjectRiskWeights" xlink:to="label_BreakdownExposureValueSubjectRiskWeights" xlink:title="label: BreakdownExposureValueSubjectRiskWeights to label_BreakdownExposureValueSubjectRiskWeights"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-ss-2006-07-01.xsd#p-ss_CRSECSADomain" xlink:label="CRSECSADomain" xlink:title="CRSECSADomain"/>
    <link:label xlink:type="resource" xlink:label="label_CRSECSADomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CRSECSADomain" xml:lang="es" id="label_CRSECSADomain">RP24</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CRSECSADomain" xlink:to="label_CRSECSADomain" xlink:title="label: CRSECSADomain to label_CRSECSADomain"/>
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