Spanish Savings Banks’ Regulation Bill Estimated at €18 Billion

Spain’s savings banks including CaixaBank SA and Unicaja Banco SA have spent about €18 billion ($19.5 billion) to comply with regulation over the past five years, according to a lobby group that’s advocating for a reduction.

The expenses, which are tallied in a report currently being prepared by the Spanish Confederation of Savings Banks, or CECA, reflect salaries for regulatory staff, taxes as well as contributions to the European Union’s bank resolution fund SRF and deposit insurance schemes, according to people familiar with the matter.