How To Guides
- Childbirth & Education
- Legal Formalities
- Pensions & Benefits
- Property & Accommodation
Did you know...?
...you can learn Spanish at a variety of locations across Spain, online or residential and day courses in Spain?
Regardless of your standard, and whatever level you wish to reach Don Quijote has a program to suit your needs!
- Airports and Airlines Spain
- Paramount Theme Park Murcia Spain
- Corvera International Airport Murcia Spain
- USD weekly currency update-29 April 2016
- When Expat Eyes Are Smiling
- Meet Wincham at The Homes, Gardens & Lifestyle Show, Calpe
- QROPS 2014
- Spain Increases IHT in Valencia & Murcia
- Removals to Spain v Exports from Spain
- The Charm of Seville
- Gibraltar Relations
- Retiro Park : Madrid
- Wincham announce opening of Marbella office
- Community Insurance in Spain
- Calendar Girls
- Considerations when Insuring your Boat in Spain
- QROPS – HMRC Introduces changes that create havoc in the market place
- QROPS – All Change From April 2012
ECB : Spain should step up "bad bank" plans
The ECB has asked Spain to review and strengthen its plans to create "bad banks" where the lenders would park their toxic real estate assets to later sell them off, an ECB document showed on Monday.
The opinion is a blow for Spain two days after it agreed with its euro zone partners to receive up to €100 billion in European loans and cede sovereignty to the European Commission and the ECB over its financial system.
Monday was the last day for lenders to present plans to the Bank of Spain on how they will comply with the reform which foresaw the creation of such holding companies and demanded the banks to set aside about €30 billion in capital to cover sound loans in their real estate portfolios.
Spain will now likely be forced to review the reform.
"It remains unclear... whether the envisaged framework is sufficient to achieve an effective separation of the risks of banks," the ECB said in an opinion released on Monday.
The Frankfurt-based institution has also questioned the low volume of real estate assets that would be parked in the companies and said the Spanish government should make clear how the new structures will be funded and whether they will be backed by states guarantees.
"In this regard, the ECB would recommend further steps towards a complete deconsolidation and separation of risks between entities," the ECB said.
Any review will have to be carried out in parallel with a two-stage comprehensive audit of Spain's banking sector, one of the condition of the rescue plan agreed on Saturday.
The first results of the audit, which goes well beyond the soured property assets and covers mortgages, loans to businesses and consumer credits, are expected by June 21.
The government is likely to use its findings to present a third banking reform this year and request the banks to set aside more capital to cover all the loans portfolios, government and financial sources told Reuters.
Only the banks not able to raise the money by themselves would receive European aid.
Latest News & Stories
- Population of Spain in decline
- Brit charged in Alicante pro-cyclist crash
- Spain Welcomed 12 Million Tourists in Q1
- Spain sees GDP growth of 2.5 pct in 2018, 2019
- Prosecutor will use Manos Limpias arrest to get royal out of fraud trial
- EU intervention sought over UK-Spain Gibraltar airport row
- Spain breaks its own record for joblessness of over 20%
- Bank of Spain sees private consumption growth steady at start of year
- “Human fecal contamination” at origin of bottled water health scare
- Catholic nuns undergo virginity test to prove priest's innocence in sex abuse case
- Applying for an EHIC Card as a Spanish Resident
- What is the Euribor ?
- Applying for a Business Loan
- Applying for an EU Grant for your Business