The report analyses the potential impact that the coronavirus crisis could have on Spanish banks by drawing parallels with the Great Recession – aware as we are that they are not fully comparable – to run a sensitivity analysis of the performance of banking equity under different crisis scenarios.  to conclude whether the banking sector should be concerned about its solvency.  Given the pivotal role of the banking sector for the economy as a whole, the answer to this question is key to understanding the actual risks the Spanish economy is facing.