FROB, the Spanish Executive Resolution Authority (formerly known as Fund for Orderly Bank Restructuring)[1] is an entity of the Spanish government that manages the resolution processes of credit institutions and investment firms in their executive phase in Spain.

Initially, its aim was to increase the strength and solvency of the Spanish banking system by means of two essential functions at that time: managing the restructuring processes of credit institutions and helping to strengthen their own funds.

Today, and since the approval of Law 11/2015,[2] FROB is the Spanish Executive Resolution Authority, financed exclusively with private contributions from banks and which is integrated into the European network of authorities led by the Single Resolution Board (SRB).

Law 11/2015 set up a new institutional framework in order to comply with the principles set out in Resolution Directive 2014/59/EU[3] to separate supervisory and resolution functions and led to a transformation in the organisational structure, governance and functions of FROB.

However, this activity coexists with its new functions as executive resolution authority within the European SRM and cooperating with other Spanish preventive authorities (Bank of Spain and the National Securities Market Commission, CNMV), within Spain’s institutional framework.