Juan Ramón Quintás, Honorary President of the Confederación Española de Cajas de Ahorros (CECA) {Spanish Federation of Savings Banks}  and Professor at the University of A Coruña was admitted as Corresponding Academician for Galicia of the Real Academia de Ciencas Económicas y Financieras (RACEF) at a Solemn Session that was held this afternoon in Barcelona.

The new Academician read his speech “Supervising the bank supervisor: risks and strategies of coverage”, where he proposed “a portfolio of strategies” for improving bank supervision coinciding with the political debate on the regulation of the Bank of Spain. Quintás considers that “important effects can only be hoped for on financial stability by means of very careful consideration of all the strategies for coverage. On the contrary efforts could be fruitless and it is even possible that the intensification of one strategy of coverage could cause perverse effects, including even worse than the risk that it is attempting to combat”.

The reply to his speech in name of the RACEF was made by Academician José Antonio Redondo López. Also Academician and current President of the CECA, Isidro Fainé sponsored the newly elected Member.