MADRID | by Eduardo Segovia (El Confidencial) | Spanish big bankers are relieved despite the Ecofin intentions of limiting bonuses: since their wages do not exceed the new limits, they won’t be reduced next year.
A map of the Spanish banking system
MADRID | Carlos DÃaz Güell draws a guide to understand the current situation of financial and credit institutions in Spain, and what can happen next.
Spanish banks with capital deficiencies initiate their viability plans
The capital requirements of each institution have now been published, but non-performing loans continue to increase sharply. Nevertheless, CaixaBank analysts indicate, the fall in deposits of firms and households is partly due to issuances of commercial paper with more attractive, higher returns.
European banks flee Greece
José Luis Marco, CAPITAL MADRID | Although Spanish banks have little direct exposure in Greece, the country over which hangs the euro zone exclusion threat, something different happens with several European banks: they have a direct interest in the Hellenic country both with their branches in the country and with the assumption of Greek sovereign [...]
Spanish government keeps the upper hand on banks reform
The new set of rules on restructuring and liquidation of ailing banking institutions planned to be approved next Friday confers full command to the Spanish government. The Bank of Spain will exclusively identify solvency failures and pit in place an early warning mechanism to redress potential deviations. But once public money is involved the task [...]
Buy more brick for a worst price
CAPITAL MADRID, José Sánchez Mendoza.–  Pay more, almost double, but with a comfortable loan that covers all or most of the amount. It’s a win-win situation, don’t you think? Though it may seem, this is not the lamp seller in a Moroccan bazaar’s talking but the candy that banks put in front of consumers to [...]
“Financial development can become a drag on growth”
NOTE: The following article is based on a paper by Economic Adviser at the Bank for International Settlements (BIS) Stephen G. Cecchetti and his colleague Enisse Kharroubi. The full publication is available at BIS website. You can also download it here. One of the principal conclusions of modern economics is that finance is good for [...]
Standard Chartered pays fine to save its New York business
For days, Standard Chartered executives had been negociating with multiple law-enforcement officials in New York in order to settle claims that it laundered $250 million for Iran. The final move came on Tuesday, when the british bank decided to open its wallet. The $340 million deal is huge, only beaten by the one reached by [...]
Standard and Iran: another punch in the face for the banking sector
It’s definitely not the best time for British banks. The last one under the spotlight is Standard and Chartered, until now regarded as a darling of the financial sector. The emerging markets-focused lender which managed to escape the effects of Europe’s debt crisis may now lose its operating licence in New York: US regulators alleged [...]
“In Spain, we shouldn’t have bailed out the bankers who sank their entities”
By Cruz Sierra, in Valencia | valenciaplaza.com | Bad timing. It must feel at least challenging to become chairman of the employers’ association Cierval in the region of Valencia. The autonomous government recently asked Madrid for help to face its debts, while Madrid itself negotiates in Brussels softer deficit targets and the conditions of a banking [...]
