Spanish macroprudential authority (AMCESFI)

AMCESFI is a inter-agency body attached to the Ministry of Economy, Trade and Enterprise. Its aim is to contribute to the financial system's stability by identifying, preventing and mitigating systemic risk factors. AMCESFI plays an inter-institutional coordination role. It has advisory, non-binding powers.

It is structured around a Board and a Financial Stability Technical Committee in which the three Spanish sectoral supervisors responsible for macroprudential policy participate:

  • The Banco de España
  • The National Securities Market Commission (CNMV)
  • The Directorate General of Insurance and Pension Funds (DGSFP)