CECA’s Statement on the Outcome of the Referendum Held in the United Kingdom

In relation to the outcome of the referendum held yesterday in the United Kingdom, the entities associated with CECA wish to express the following:

1. The European Central Bank, in coordination with the other international monetary authorities, has sufficient mechanisms to address the impact of the referendum result on the markets and ensure financial stability.
2. The Spanish financial system presents a solid position in terms of solvency and liquidity, a result of the efforts for sanitization and consolidation carried out in recent years. Based on these strengths, Spanish credit institutions are prepared to face the possible uncertainties arising from the negotiation process that is now opening between European and British authorities.
3. We call on the European institutions to continue the process of building the European Union. Likewise, we express our commitment to the Banking Union project, which aims to harmonize supervision and ensure a common level of protection for European depositors.
4. CECA is part of the European Association of Savings Banks and Retail Banks (ESBG), chaired by Isidro Fainé, from which it will continue to contribute to strengthening European integration and the Banking Union.