Bank of Spain urges lenders to provide more detailed results
Sunday, 28 November 2010
MADRID, Nov 27 (AFP): The Bank of Spain on Friday called on lenders to publish more details in their results, especially regarding exposure to the nation's collapsed real estate sector, to reassure jittery markets.
Spain's banks should use transparency as their "main instrument to demonstrate to investors the solidity of the financial system," Bank of Spain Deputy Governor Javier Ariztegui said.
He said the results of additional stress tests carried out on Spanish banks would be ready in March, which will provide more information on residential mortgages, detailing collateral and corresponding loan-to-value ratios.
With the exception of five small unlisted lenders, all of Spain banks passed this July's Eurpe-wide stress tests.
Spain's banks should use transparency as their "main instrument to demonstrate to investors the solidity of the financial system," Bank of Spain Deputy Governor Javier Ariztegui said.
He said the results of additional stress tests carried out on Spanish banks would be ready in March, which will provide more information on residential mortgages, detailing collateral and corresponding loan-to-value ratios.
With the exception of five small unlisted lenders, all of Spain banks passed this July's Eurpe-wide stress tests.