 Consequently, Spanish savings banks accepted low-value and low-volume savings in deposit and, in turn, placed these funds in the ‘Mounts of Piety’ so they could make small loans to underprivileged classes.Like their counterparts in Scotland and France, Spanish savings banks briefly placed excess deposits at a government owned institution (Caja General de Consignaciones, 1852–1868).This portfolio strategy was part of a change in government policy looking for greater intervention in the business of Spanish savings banks as well as providing financial aid to the recently created Caja de Dépositos y Consignaciones.