Spain's BBVA says stress test to reveal banks need 70-80 bln eur
MADRID, Sept 20 |
MADRID, Sept 20 (Reuters) - Spain BBVA's chairman Francisco Gonzalez said on Thursday an independent stress test by consultancy Oliver Wyman will show the country's lenders need between 70 billion and 80 billion euros ($91.40-$104.46 billion) in capital.
The Spanish government will use the results of the audit to determine how much of an up to 100-billion-euro European credit line it will need to tap to recapitalise the country's lenders, badly hit by the end of a property bubble five years ago.
"We'll know in the next few days, in a week. We'll get a figure of around 70, 75 or 80 billion euros," Gonzalez said at an event in Madrid.
He also said BBVA, Spain's second biggest lender, may deposit assets in a "bad bank" in which troubled lenders will park their toxic real estate assets to later sell them off. He however said he was not willing to take a stake in the mechanism in the short-term.
- Tweet this
- Share this
- Digg this