×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: Moodys | Spanish | Banks | Healthier

Moody's: Spanish Banks Healthier Than Markets Think

Tuesday, 22 June 2010 11:34 AM

Spain's banks are healthier than financial markets believe because they have already made provisions for three quarters of the bad debt on their books, Moody's Investors Service said on Tuesday.

"As long as the ECB provides the funding to keep the cost down ... the Spanish banking system is not as bad as the current market seems to believe," Johannes Wassenberg, managing director of Moody's financial institutions group told reporters.

Moody's estimated Spanish banks have 108 billion euros ($133 billion) in bad debt of which 75 percent have been provided for by the banks.

© 2022 Thomson/Reuters. All rights reserved.


Headline
Spain's banks are healthier than financial markets believe because they have already made provisions for three quarters of the bad debt on their books, Moody's Investors Service said on Tuesday. As long as the ECB provides the funding to keep the cost down ... the Spanish...
Moodys,Spanish,Banks,Healthier
94
2010-34-22
Tuesday, 22 June 2010 11:34 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved