The Bank of Spain published the Governor’s Senate testimony and accompanying presentation setting out the institution’s challenges and priorities for 2025-2030. The strategy is framed around opening the central bank to society, using international developments to modernise the financial system and strengthening the Bank’s effectiveness, spanning governance, analytics, supervision and payments. Key initiatives include a cultural and organisational transformation programme with process optimisation and multidisciplinary project teams, alongside talent measures such as specialist recruitment pilots and “expression of interest” processes for key roles. A review of the Bank’s independence, transparency and accountability has been launched with input from external experts, and work is progressing on governance and appointment improvements and a clearer definition of the advisory function. The plan also highlights restructuring to bolster analytical capabilities through a new Directorate General Strategy, People and Data, new units including an AI and new technologies centre in Barcelona, and the recruitment of AI engineers and data scientists. On financial sector modernisation, the Bank points to new competences to supervise external AI models used for lending to the public, a supervisory priority on cyber resilience linked to the 2025 Digital Operational Resilience Act framework, and work on cash sustainability and the future European payments system, including the digital euro and TARGET Services. In prudential policy, it highlights the 2024 macroprudential framework and the approved increase in the countercyclical capital buffer to 1% (enforceable in one year), planned enhancements to stress testing and mortgage borrower-based measures assessment, reinforcement of direct supervision of smaller banks, and efforts to streamline regulatory complexity while maintaining resilience. Next steps flagged include publication of the Governing Council’s findings from the autonomy and internal rules review in H1 2026, further rollout of transparency and public-facing initiatives including a new Transparency Portal in 2027, and delivery of internal efficiency targets through to 2030.
Bank of Spain 2025-10-09
Bank of Spain outlines 2025-2030 strategy covering AI oversight, cyber resilience, payments modernisation and a 1% countercyclical capital buffer
The Bank of Spain's 2025-2030 strategy focuses on modernizing the financial system and enhancing governance, analytics, supervision, and payments. Key initiatives include a cultural transformation program, specialist recruitment, and a review of independence and transparency. The plan also emphasizes AI supervision, cyber resilience, and prudential policy enhancements, including a 1% countercyclical capital buffer and streamlined regulatory processes.