June 23, 2017 / 11:02 AM / 3 months ago

Bank of Spain says Popular may have obtained more liquidity

MADRID, June 23 (Reuters) - The deputy governor of the Bank of Spain on Friday said it suspected Banco Popular did not present all the collateral it had available in order to obtain liquidity and avoid being resolved by European authorities and sold for one euro.

“I suspect the bank had potentially more collateral than the one we were presented because we were given relatively few of them,” Javier Alonso told journalists at an event in the northern Spanish city of Santander.

“But given it didn’t bring them, we haven’t seen them and thus I can’t certify it,” Alonso also said.

Popular was taken over by Spain’s largest bank Santander in early June, for the symbolic price of one euro, after European authorities stepped in to prevent its collapse. (Reporting by Jesus Aguado; Editing by Julien Toyer)

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