The Bank of Spain denies that Spanish banks need more capital
Best Growth Stock – The Bank of Spain insisted today, said that Spanish banks do not require further recapitalization as laid down in the Royal Decree of financial system reform passed in February, is being fulfilled as scheduled.
The entity that presides Miguel Angel Fernandez Ordonez was responding to information released today by the “Financial Times”, according to European banks which sixteen-seven of them Spanish, which passed by a hair’s solvency tests would need more capital last July.
Speaking to Reuters, sources from the Bank of Spain recalled that, as explained after learning the results of the tests of solvency of European banks, “no Spanish bank needs additional capital” to meet the 5% required by the main capital European banking authorities.
In addition, the sources said, the seven Spanish companies that were between 5% and 7% “exceeded 6.5%.”
In any case, the Bank of Spain recalled that the application of Royal Decree 2 / 2011 Financial System Reform, approved in February, will make all sector entities have at September 30 capital levels above 8% in the for banks and 10% for the boxes.
Category: Business News
