Spanish banks are growing in response to the demands of B

Dołączył: 11 Mar 2024 Posty: 1

Santander and BBVA are willing to raise their capital ratio to 10%, one point more than what is imposed by the EU The large Spanish banks have reacted quickly to the demands of the European Union to recapitalize at 9%. They have accepted the 'coup' from Brussels, but they are going to stand up to it. Santander and BBVA are willing to raise their capital ratio to 10%, one point more than required, to show the strength of the Spanish banking sector. As El Confidencial Digital has learned from financial sources, the country's two largest banks (Santander and BBVA) are not going to be intimidated, far from it, after the news they received yesterday from Brussels , which forces them to recapitalize at 9% in eight months, before June 30, 2012. Quite the opposite.

The two big Spanish banks have already decided how to defend themselves against the EU impositions , which penalize Spain to a greater extent than other European countries, despite its limited presence in Greece. They are going to raise their 'core capital' to 10% , one point more than what is formally required by the European UK Mobile Number List authorities, with a clear objective: to 'hit back' at Brussels and show the strength of the Spanish financial system. According to the sources consulted, the large Spanish entities intend for this forceful message , with the challenge of even exceeding the requirements demanded, to resonate strongly in Europe . They are going to undertake the recapitalization of their banks, but they consider the treatment of Spain in this matter to be unfair .

Annoyed with the efforts of the Government and the Bank of Spain In the Spanish banks, consulted by ECD , it is striking that Spain, whose exposure to Greek sovereign debt is "very low", is the second country in the EU by requirement, even ahead of France and Germany , which are the largest holders of public debt of the Hellenic country. “We are paying a quarter of the European bank recapitalization, when we barely have Greek debt in our financial system,” one of the main Spanish entities complains. They accuse the Government and the Bank of Spain of lacking political weight in Europe and of having left them alone in this fight. “The Spanish delegation has not risen to the occasion in the negotiations. They have given in to the pressures of Sarkozy and Merkel and have not vigorously defended the interests of the Spanish entities,” they say in another of the banks.

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