 In particular, freedom (i.e., lack of detailed regulation) regarding investment policies created diversification and growth of assets at a greater rate than counterparts elsewhere in Europe.From the time the Act of 1880 was published until the end of the 19th century, the number of entities doubled from 26 in 1880 to 66 in 1905, while the sum of cash and assets held as deposit increased by four percent from 12 per cent of total savings in Spain in 1880 to 16 percent in 1905.Alongside the savings banks, in 1890 and following German ideas to promote agriculture, co-operative banks ("caja rurales") emerged in rural areas.