Stress tests show Spain's banking system one of the world's healthiest
Jul 26th 2010, 1:21 pm
#16
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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 Spain too, the banks have been looking for further funding.
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, banks' ECB borrowings have soared above €135 billion, also a record, up from about €90 billion two months earlier.
Jul 26th 2010, 1:38 pm
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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 Spain too, the banks have been looking for further funding.
http://online.wsj.com/article/SB1000...EFTTopWhatNews
In Spain too, the banks have been looking for further funding.
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.
Jul 26th 2010, 1:46 pm
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Re: Stress tests show Spain's banking system one of the world's healthiest
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?
Jul 26th 2010, 1:49 pm
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Re: Stress tests show Spain's banking system one of the world's healthiest
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.
I wouldn't hold any money in a spanish bank, only enough for bills.
Last edited by steviedeluxe; Jul 26th 2010 at 1:54 pm.
Jul 26th 2010, 4:28 pm
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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
In the past Latin America had a bad financial image, but apparently that has changed:
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.
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.
* 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.
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.”
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.”
(in the English media) as regards customer service.
