To me it is necessary to stress that “saneamiento” is a dynamic process which includes national (or foreign i.e. EU in the case of Europe) intervention to change the state of a national banking system (usually in bad condition!). The desired outcome of this intervention should be “bancos saneados” = “cleaned-up/rehabilitated banks”.

http://www.breakingviews.com/how-to-fix-spains-real-estate-p...
A different approach might be for the state to force banks to recognize big losses on toxic assets up front, but stop short of buying them. True, the government would still have to wholly or partly nationalise some lenders. However, it could then carve out the bad assets on a case by case basis, and return the cleaned-up banks to the private sector. That may not be as neat a solution as the clean sweep the bad bank would provide. But it would minimise the risk for the beleaguered Spanish taxpayer.

http://www.bbc.co.uk/blogs/thereporters/robertpeston/2010/06...
But central bankers take the view that the rehabilitation of banks requires that they become less dependent on longer term loans provided by the authorities.
(…)
For Spanish banks - and also for Greek and Portuguese ones - that real world looks scary right now.
Spain's banks are finding it tough to tap commercial sources of wholesale finance, because of growing fears about potential losses stemming from the weakness of its property sector.

http://www.partners-view.ch/en/2012/07/euro-zone-gemeinsame-...
Spain benefits
Now, Spain is the first country to benefit from this new approach. The forthcoming rehabilitation of banks plagued with defaulting real estate loans is no longer the Spanish government’s obligation: it will be handled by the ESM. Spain can thus more quickly attain its deficit target. Even Ireland can hope that its bank bailouts can retroactively be transacted via the stability fund. For legacy lenders – the owners of Spanish, Irish, or Italian bonds – there’s good news as well. With its refinancing schemes, the ESM does not make any distinction between subordinated (from the point of view of previous lenders) and secured debt: all debt is in the same category in the event of bankruptcy. This should reduce the selling pressure that private lenders fear.