Spanish banks are breastfed according to European Central Bank

The Spanish banking sector more than meets the latest stress test, carried out by the European Central Bank ECB.

The consolidation of the Spanish banking sector appears to have worked. In the last test, only banks in Latvia, noting better numbers for its capital assets.

All 15 studied Spanish banks have passed the test. Only Liberbank falls below one of the criteria, but the shortage is reported to be marginal. The banks that note best figures are Kutxa Bank, Bankinter and Bankia.

Spanish Liberbank repays bank support prematurely

Liberbank has elected to pay the Spanish government loan of 124 million Euros, a year earlier than necessary.

The bank is one of the Spanish institutions were forced to ask for bank support in 2013, although unlike for example Bankia not needed into intervention. Support fund FROB bought convertibles in Liberbank, at an interest rate of 8.25 percent, property Marbella.

In April, Liberbank to issue new shares which enabled the bank to liquidate the State loan a year earlier than necessary. They thus saving rate.

Liberbank has also announced that they changed the board. It takes only two days after the European Central Bank ECB stress tests proved that the Liberbank is the only bank in Spain that do not meet one of the criteria. To date the Chairman Manuel Menéndez remain on the board, but is replaced in the chair by Pedro Manuel Rivero Torres, an independent board member of Liberbank since 2011.

Spanish savings banks with major economic questions

Banking Commission FROB has found holes in the savings banks intervened finances for more than 2.6 billion Euros.

The Finance Minister Luis De Guindos confirming the FROB in the current situation is investigating 42 cases of suspected accounting fraud in the savings banks that got into intervention. The worst offenders are Caixa Catalunya, where more than 900 million Euros missing and Caja Valencia, with a hole of 800 million Euros.

The investigations could lead to the prosecution of former board members of the savings banks. One of them is former Chairman of Caixa Catalunya Narcís Serra, who was deputy head of government under Felipe González. CC had a share of unpaid claims at the full 22 percent, which raises suspicions that the loans granted arbitrarily with no intention of getting back the money back.

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