Santander is the only Spanish of the 13 European banks considered as systemically important by the Financial Stability Board. Despite sharing the size of a dozen other banking groups, the one chaired by Ana Botín has characteristics that make it a different animal from the rest, which gives it a good number of advantages and also some drawbacks, as reflected in a recent report prepared by the analysts of the agency S

Santander is a peculiar entity, almost unique, within the panorama of the 13 European entities that are considered to be of global systemic importance (G-SIB, in the jargon of the sector) by the Financial Stability Board (FSB, for its