The National Commission for Markets and Competition (CNMC) is suspicious that Spanish banks barely remunerate deposits after the rate hikes in recent months. Fernández expressed his surprise at the fact that there is no large entity that wants to gain market share with a high-remuneration offer for liabilities. The president of the organization, Cani Fernández, specified that the Commission does not have the power to control this situation except in the event that there has been an agreement.
The president of the CNMC, Cani Fernández, explained this today at the seminar of the Association of Economic Information Journalists (APIE) at the Menéndez Pelayo International University (UIMP) in Santander. According to Fernández, there are other competition agencies in other countries that can analyze practices of this type. She has assured questions from the press that she cannot reveal whether or not the sector is being investigated for this matter.
During his speech, he also explained that the CNMC has just approved that from now on the Commission will be the one that determines the duration and scope of the ban on a company sanctioned by the agency being hired by an administration.
The institution explained that since 2015, companies penalized for serious infringements of competition face a ban on contracting with the public sector. To date, it had been decided that the Ministry of Finance would determine the duration and scope of these prohibitions.
Now it will be the CNMC. The measure aims to increase legal certainty and strengthen compliance programs and the culture of competition in companies,” the Commission explained.
Regarding the judicial decisions that have been annulled, Fernánez has said that 85% were confirmed in the Supreme Court. Yes, he has recognized that there was a period of time in which all sanctions were annulled.
