In the Euro area, financial system banks are important in the role to intermediation of savings and the financing of firms and households.
Savings institutions in Spain represent an important percentage in this intermediation function, higher than banks and credit cooperatives. Nowadays, the period of financial crisis that started in august of 2007 has influenced in the real economy and has had effect in the criteria of bank to establish the conditions and prices of the mortgage and loans.
This situation is very important to understand the way of the economies to answer to the monetary policy of European Central Bank. Banks can contribute to the development of real economy when they give loans, but if they do not have liquidity they can not finance new investment projects.
In Spain there are different financial institutions: savings institutions, banks and credit cooperative; savings institutions are the more important in intermediation function. Objective of this paper is to analyze role of financial institutions in general and their necessities to obtain additional resources in a context of crisis. In this sense is studied a new way to obtain resources by savings institutions: “cuotas participativas”.