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The impact of the 28 April 205 blackout on Spain's payment systems

Author

Listed:
  • Lourdes Cremades
  • Álvaro Esandi
  • Miguel Pérez

Abstract

This article describes the impact of the 28 April 2025 power blackout in the Iberian Peninsula on both retail and wholesale payment systems, the securities settlement system, the various parties in the payment chain and, in the case of retail payments, the payment instruments and channels used. Retail payment transactions declined sharply, fundamentally as a result of the inability of the underlying commercial or corporate transactions to continue, owing, in turn, to the lack of backup systems. By contrast, Spain’s financial infrastructures (especially its payment systems) proved highly resilient and were buttressed by contingency systems that ensured their correct functioning in accordance with the operational continuity requirements set out in the oversight and regulatory frameworks that govern such infrastructures.

Suggested Citation

  • Lourdes Cremades & Álvaro Esandi & Miguel Pérez, 2025. "The impact of the 28 April 205 blackout on Spain's payment systems," Financial Stability Review, Banco de España, issue Autumn.
    • Handle: RePEc:bde:revisl:y:2025:i:11:n:3
    Note: 49
    as

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    File URL: https://www.bde.es/f/webbe/GAP/Secciones/Publicaciones/InformesBoletinesRevistas/RevistaEstabilidadFinanciera/25/3_FSR49_Apagon.pdf
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