Spanish Association of Private Banking (AEB)
The Spanish Association of Private Banking (AEB) is a professional association in which any national or foreign bank operating in Spanish territory can participate. Its objective is to defend the interests of its partners in the banking sector.
The Spanish Association of Private Banking was created in 1977 under the protection of Law 19/1977 that regulates the right of trade union association. As of May 2018, it had 80 associated private banks and its main objective is to defend the common interests of its partners.
Objective and functions of the AEB
The objective of the AEB is to represent the associated banks for the defense of their collective interests in all areas related to their commercial activity.
Among the main functions of the organization are:
- Dialogue with various actors of the public, political and business administration of Spain.
- Preparation of reports and taking a position regarding standards, regulations and other measures that affect the banking sector.
- Send to its associates the communications, recommendations and other relevant documents prepared by the Bank of Spain, the Public Administration or the Economic Authorities.
- Negotiate with union organizations the collective agreement applicable to the sector.
- Standardization and rationalization of operating procedures used in interbank relations and in the relations of banks with the Public Administration.
- Study and report on any matter (legal, legal, regulatory, etc.) that is of common interest and / or that affects the interests of the organization's partners.
- Periodic publication of consolidated financial information on banks (balance sheets, income statement, etc.).
- Representing Spanish banks in the Banking Federation of the European Union (FBE) and, through it, in the International Banking Federation, participating in its governing bodies, committees and working groups.
- Facilitate self-regulation mechanisms and adherence to common principles.
- Contribute to academic training in financial and banking matters.
Structure of the AEB
The AEB is an entity with legal personality and its own assets. It has two governing bodies, the General Assembly of Associates and the General Council.
In addition, its activity is supported by the work of various committees that are made up of representatives of the associated banks chaired by a member of the AEB.
The main advisory areas in which the organization works are the following:
- Retail banking.
- Means of payment, operations and procedures.
Other departments that are included in the AEB organizational structure are: Human Resources and Administration and Management of Knowledge and Systems.
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