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What it is

New organization of Spain's state-owned banks

BOE step 7 of 7 · Passed

It is a government bill. Introduced by the Government. It was introduced on 30 May 1991. Introduced by: Gobierno.

Official title: Government bill establishing a new organization of credit institutions with public state capital (originating from Royal Decree-Law 3/1991, of March 3).

Follow this law

Source: Congreso de los Diputados, file 121/000056· updated 11 Nov

Automatic summary, not yet reviewed

  1. The law creates Corporación Bancaria de España, Sociedad Anónima, a state-owned company that will act as the group's parent and will take ownership of the State's shares in several public credit institutions, such as Caja Postal, Banco de Crédito Agrícola, Banco de Crédito Industrial, Banco de Crédito Local, Banco Hipotecario de España and Banco Exterior de España.
  2. Before that reorganization, the autonomous agency Caja Postal de Ahorros becomes the state-owned company Caja Postal, Sociedad Anónima, and the State receives the shares of the official credit institutions held by the Instituto de Crédito Oficial.
  3. The public credit institutions are reorganized so they can compete better in a more open and competitive financial market, taking advantage of the complementarities and synergies between them.

Who it affects

  • Public credit institutions: They are reorganized under a new state-owned parent company, Corporación Bancaria de España.
  • Civil servants and labor staff of the autonomous agency Caja Postal de Ahorros: Civil servants may join the new company as labor staff or return to their Ministry; labor staff are integrated keeping their seniority, category and pay.
  • Instituto de Crédito Oficial: It transfers to the State the shares of the official credit institutions and other holdings it owned.

Words worth knowing

Sociedad estatal
A company whose capital belongs to the Spanish State and which is governed by the General Budget Law.
Entidad de crédito
A company authorized to operate as a bank, taking deposits from the public and granting loans.
Organismo autónomo
A public agency with its own legal personality that depends on the Administration but is not a private company.
Subrogación
When one entity takes the place of another in rights and obligations, such as contracts or activities, without changing anything else.

It summarizes the law as published in the BOE. It is written by artificial intelligence and may contain mistakes: the official text is what counts. Read the official text · How we make summaries

Where it stands

How far did it get?

It took 7 of 7 steps. It reached BOE, and today it is passed.

  1. Introduced30 May 1991Someone registers the text in the Congreso.
  2. Admitted4 June 1991The Bureau of the Congreso accepts it and, for a members’ bill, the plenary decides whether to consider it.
  3. Amendmentsno dateGroups propose changes.
  4. Committeeno dateA committee goes through the text in detail.
  5. Plenaryno dateAll 350 deputies vote.
  6. Senateno dateThe Senate can pass it, amend it or veto it.
  7. BOEno dateIt is published in the Official State Gazette (BOE) and comes into force.
See the 2 official steps on a timeline
May 199111. 30 May 1991: Presentación22. 4 June 1991: Calificación

Was there a plenary vote?

We have no plenary vote linked to this law in the Congreso’s data.

What happens next

What happens now?

It is law, or will be once published in the BOE. It comes into force on the date its own text sets.

Published in the BOE: Law 25/1991, of 21 November, establishing a new organization for State Public Capital Credit Entities.

Sources

Where does all this come from?

  • The data comes from the open files of the Congreso, the Senate and the BOE, unaltered.
  • Each deputy’s province is the one of their seat on the day of the vote.
  • We only say “passed” or “rejected” when the majority needed is certain; otherwise we say which side had more votes.

Read the full method · Report an error