Governor of the Bank of Spain, Pablo Hernandez de Cos, once again demonstrated its opposition to the bank tax and its possible extension. De Kos assured that the tax structure has been thought out. “very upgradable”due to the fact that it taxes interest and commission income rather than profits.

In the opinion of the Bank of Spain, it added, it would be more desirable “The part of the profits that ultimately goes to taxes will remain in the capital of banks and will increase the sustainability of the sector.”

In this regard, the head of the Bank of Spain noted that it must be taken into account that profitability, which is improving thanks to a more restrictive monetary policy, will not be maintained for a long time. For this reason, he insisted that “ensuring the sustainability of the banking sector is the best we can have.”

The Governor has indicated that when introducing or extending a tax with these characteristics, consideration must be given to its impact on financial stability and on the transmission of monetary policy itself. “It’s something fundamental” – he noted during the closing of the XXX meeting of the financial sector of Deloitte and ABC companies.