Compensate people whose savings were seized under Franco

Automatic summary, not yet reviewed

1. The bill, introduced by the Parliament of Catalonia, would amend Law 52/2007, which recognizes rights of those who suffered persecution or violence during the Civil War and the Dictatorship. It is not an approved law, only an initial text in the legislative process.
2. The bill would add Article 4 bis to that law. It would recognize the right to compensation for individuals affected by the seizure of paper money or other fiduciary instruments deposited by Francoist authorities in the account 'Billetes de canje desestimado' or in the 'Fondo de papel moneda puesto en circulación por el enemigo', or for their heirs. A later regulation would set the required documents, deadlines and how compensation is calculated.
3. It would also add a ninth additional provision. The Spanish Government, together with the Government of the Generalitat of Catalonia, would have to study and enable measures to compensate for goods seized from safe deposit boxes at banks and savings banks during the Civil War, but only if those seizures were carried out illegally.
4. The preamble explains the origin: Francoist authorities declared invalid the banknotes issued by the Bank of Spain after July 18, 1936, and subjected earlier banknotes to exchanges with conditions that were very hard to meet. Many citizens received only a receipt in exchange for their savings, as a repressive measure against the defeated side.

Who it affects

• People whose paper money or fiduciary instruments were seized under Franco, and their heirs: They would gain a right to compensation, under conditions set by a later regulation.
• Families whose goods were seized from safe deposit boxes at banks or savings banks during the Civil War: The Government would have to study compensation measures if the seizure was illegal.

Words worth knowing

Signos fiduciarios (fiduciary instruments)

Paper or metal money whose value comes from trust that it can be used to pay, not from the material itself. Banknotes are an example.

Derechohabientes (rights holders)

People who inherit or receive a right from another person, for example their heirs.

Resarcimiento (compensation)

Payment to make up for a harm or loss someone suffered.

Cajas de alquiler (safe deposit boxes)

Safes that banks and savings banks rent to customers to store valuables.

Proposición de ley (proposed bill)

A text drafted as a law, in this case introduced by a regional parliament for the Congress to debate. It is not a law until approved.

It summarizes the text as it was introduced. It is written by artificial intelligence and may contain mistakes: the official text is what counts. Read the official text · How we make summaries