In such a context, Spanish saving banks have undertaken a restructuring process that already affects more than three quarters of the sector and that will result in a substantial reduction of the number of entities and hence in an increase of the efficiency and soundness of the saving banks sector. This has been a significant first step. Nonetheless, the current reform of the international financial system will result in new challenges in terms of higher capital requirements both in quantity and in quality. Spanish credit entities must be prepared to face the new requirements from a reinforced position to.
