TAILIEUCHUNG - The Spanish savings banks and the competitive cooperation model (1928-2002)

In the UK, the financial regulatory framework under the UK Financial Services and Markets Act 2000 (FSMA) 10 requires banks and other authorised financial firms to establish internal systems of control, compliance, and reporting for senior management and other key personnel. Under FSMA, the Financial Services Authority (FSA) has the power to review and sanction banks and financial firms regarding the types of internal control and compliance systems they adopt. 11 These systems must be based on recognised principles and standards of good governance in the financial sector. These regulatory standards place responsibility on the senior management of. | UNIVERSIDAD CARLOS III DE MADRID Working Papers in Economic History April 2007 WP 07-09 The Spanish savings banks and the competitive cooperation model 1928-2002 Francisco Comín Abstract This paper explores the relationship between the nature of Spanish Savings banks and the extent of their market success during the twentieth century. It deals with the key factors that have made so good a performance possible such as their ability to promote private saving to cooperate with government economic policy to adapt to changing circumstances to operate in particular geographical areas and to cooperate with one another. Finally the paper deals with this last factor in depth. The competitive cooperation model is used to explain the outstanding role of the Spanish Confederation of Savings Banks in making the strategic alliance among the Spanish savings banks possible. Keywords Savings banks commercial banks competitive cooperation economic policy savings banks association Spain Europe JEL Classification G21 N24 Francisco Comín Dpto. de Fundamentos de Economía e Historia Económica Facultad de Ciencias Económicas y Empresariales Universidad de Alcalá Pza. de la Victoria 3 28802 Alcalá de Henares Madrid Spain Email UNIVERSIDAD CARLOS III DE MADRID c Madrid 126 28903 Getafe Spain Tel 34 91 624 96 37 Site http uc3m dpto HISEC working_papers DEPARTAMENTQ DE HISTORIA E0ON0MICA E INSTITUCIONES INSTITUTO FIGUEROLA DE HISTORIA ECONÓMICA Universidad Carlos lit de Madrid 1 The Spanish savings banks and the competitive cooperation model 1928-2002 . Francisco Comín Universidad de Alcalá Spain 1 From the standpoint of banking history the success story of savings banks in Spain is virtually unique not only in Europe but in the world2. The fact is that the savings banks are winning market share from the Spanish banks and are just as efficient as the latter3. The performance of Spanish savings banks is all the more remarkable in .

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