SPAIN it faces a new economic contraction in the first quarter of the year after the country suffered its worst peacetime crash last year. Data such as the estimate of Gross Domestic Product (START) in real time from the Independent Authority for Fiscal Responsibility (AIReF) indicated so, and that is what the Bank of […]
Tag: Bank of Spain
The Bank Of Spain Warns That Entities Are Facing A New Increase In Bankruptcies And Requests Aid Only For Viable Companies
The Bank of Spain warns that the balance sheet clean-up process that financial institutions have carried out in recent years has come to a halt as a result of the pandemic. Doubtful or failed loans that banks must prevent with provisions that allow absorbing their impact are once again one of the greatest risks to […]
‘Hostelera, small, young and urban’: The Bank of Spain draws the profile of the company most damaged by the crisis
The Banco de Spain sheds light on the company profile most impacted by the coronavirus crisis, coinciding with the new aid plan in which the Government is working for an amount of 11,000 million euros. A study carried out by the supervisor makes it possible to draw up the profile of the most damaged company […]
Hernández de Cos asks for aid to improve the solvency of companies: “The damaging effect on banks must be minimized”
The Governor of the Bank of Spain, Pablo Hernández de Cos, calls on the Government for a shift in the economic stimulus policies used to deal with the effects of the coronavirus to focus on the solvency problems that already drag thousands of companies. “The persistence of the crisis has caused companies to be clearly […]
Towards a new normal “much more technological than the previous one”
In the opinion of Enrique Marazuela, Head of Economic Analysis at BBVA Research, “the new normal will be much more technological than the old one.” “We have taken a giant step: we had the technological solutions on the table, but perhaps due to previous inertia we did not adopt them,” he added. This is one […]
Operators launch into finance: MásMóvil will offer loans of up to 60,000 euros
MasMovil breaks into the consumer credit sector, which will reach up to 60,000 euros for its clients through MoneyGo. The operator, which controls the Xfera Consumer Finance company in which Cetelem also participates, enters into new financial services, which will include another service such as debit cards foreseeably before the end of the year . […]
The Bank of Spain and the CNMV warn about cryptocurrencies:
Clear, direct and without hesitation. So is the warning that the Bank of Spain and the National Securities Market Commission (CNMV) have launched this Tuesday on bitcoin and the rest of cryptocurrencies that are leading a renewed investment fever in recent days. “These are complex instruments, which may not be suitable for small savers, and […]
The ECB dismisses as “illegal” and “meaningless” the petition to forgive debt signed by the president of the PSOE and Podemos
The European Central Bank disqualifies as “illegal” and “meaningless”, the debt forgiveness proposal supported, among others, by the president of the PSOE, Cristina Narbona, and the economic manager of Podemos, Nacho Alvarez. “Debt cancellation is illegal under the treaties, but I would like to point out that it is not just a legal issue or […]
Competition rules out opening a file due to the strong increase in electricity in January
The National Commission of Markets and Competition (CNMC) rules out opening a file to investigate in more depth the sharp rise in the price of electricity registered last January. The supervisor has analyzed during the last weeks the causes behind the increase in the cost of energy and has concluded that it was a “perfect […]
Bank of Spain inspectors warn: “Mergers may be creating banks that are almost impossible to rescue.”
The disturbing letter to Parliament from the association brings together the bulk of the Inspection. They warn that mistakes from the past are being repeated in the new wave of bank mergers and that the pandemic accentuates “the vulnerability” of the system “Our country has already embarked on a relevant concentration process, so the implementation […]