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Stress tests show Spain's banking system one of the world's healthiest

Stress tests show Spain's banking system one of the world's healthiest

Old Jul 26th 2010, 2:21 pm
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Default Re: Stress tests show Spain's banking system one of the world's healthiest

It's interesting reading a publication like the Wall Street Journal. Apparently banks across Europe are going to need a lot of access to funding over the next few years. I suspect this will mean interest rates will be heading up fairly soon

http://online.wsj.com/article/SB1000...EFTTopWhatNews

In the U.K., the major banks need to refinance or replace as much as €800 billion of funding by the end of 2012, according to the Bank of England. That amounts to more than €25 billion a month—double the rate at which banks recently have been raising funds, the bank said.
In Spain too, the banks have been looking for further funding.

In Spain, banks' ECB borrowings have soared above €135 billion, also a record, up from about €90 billion two months earlier.
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Old Jul 26th 2010, 2:38 pm
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Default Re: Stress tests show Spain's banking system one of the world's healthiest

Originally Posted by steviedeluxe
It's interesting reading a publication like the Wall Street Journal. Apparently banks across Europe are going to need a lot of access to funding over the next few years. I suspect this will mean interest rates will be heading up fairly soon

http://online.wsj.com/article/SB1000...EFTTopWhatNews



In Spain too, the banks have been looking for further funding.
Stevie having problems with zero on key board, should read

Spain borrowed two hundred billion during May and June. It is not just about how much they borrowed it is the ability to pay it back.
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Old Jul 26th 2010, 2:46 pm
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Default Re: Stress tests show Spain's banking system one of the world's healthiest

Originally Posted by jackytoo
Stevie having problems with zero on key board, should read

Spain borrowed two hundred billion during May and June. It is not just about how much they borrowed it is the ability to pay it back.
Err no, unless I misread the article it states spanish banks ECB borrowing went up to 135 billion. While they're expecting UK bank borrowing to rise to 800 billion by the end of 2012. Direct quotes from the Wall Street Journal - what's your point Jackytoo?
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Old Jul 26th 2010, 2:49 pm
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Default Re: Stress tests show Spain's banking system one of the world's healthiest

Originally Posted by jackytoo
Spain has borrowed over 2 billion euro from the ECB in May and June. TV said today that it is also thought that many spanish banks have overvalued their assets. Like everything else that comes out of Brussels they are trying to play it down and give it an airbrush!

I wouldn't hold any money in a spanish bank, only enough for bills.
Ah - I see - you've had the problems with the zeroes. As I said the WSJ state the anount is 135 billion (still incredibly large numbers - but that's what modern day banks do)

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Old Jul 26th 2010, 5:28 pm
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Default Re: Stress tests show Spain's banking system one of the world's healthiest

This investment article (recently published) examines why Santander is a good bet

http://www.investmentu.com/2010/July...santander.html

An opportunistic dealmaker, Santander recently:

* Enlarged its reach into Germany by purchasing 173 branches from the retrenching SEB of Sweden.
* It also expects to acquire 318 UK branches from the Royal Bank of Scotland. And it already owns Abbey National, Bradford & Bingley and Alliance & Leicester there.
* But it has especially targeted Latin America, where it now gets 40% of its profits… and expects to raise that to 50% by 2012.
In the past Latin America had a bad financial image, but apparently that has changed:

Santander’s head of Latin American operations, Francisco Luzon, believes the company is on the lookout for even more acquisitions there. He predicts the region’s banking system becoming “the best in the world.”

Luzon says that Latin America learned a lot from three or more decades of “financial crises, weak regulation and poor economic policies.” But in this latest round of global woes, it stood out as an island of “strong regulation and prudence.”
Having said all that, I've always been put off banking with Santander because it had a bad reputation
(in the English media) as regards customer service.
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