Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Spanish banks to get 28 Bln boost from state

Source: Reuters - Wed 30th Oct 2013
Spanish banks to get 28 Bln boost from state

Spain will give its banks a 28 Bln capital boost by allowing them to transform so-called deferred tax assets into tax credits backed by the state and count them as core capital under new Basel III rules, five sources said on Wednesday.

The measure, seen by analysts as a key element to determine whether Spanish banks will pass or fail a Europe-wide stress test next year, has already received the backing of the ECB and will be made official in November, the official and banking sources said.

Under international Basel III rules, DTAs will not be counted as part of a bank's core capital from January 2014, potentially reducing a key measure of solvency for Spanish banks, many of which had to be rescued by European funds in the wake of the financial crisis.

A spokeswoman for the Treasury Ministry, which will have the final say on the measure, said no final decision had yet been made. The economy ministry and the Bank of spain declined to comment.

Comment on this Story

Be the first to comment on this Story !!

Related Partners

Recommended Items

Related Articles

Related Blogs