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The Bank of Spain increases the bailout to the bank to 65,725 million and gives up another 300 million in Bankia

2019-11-20T11:28:50.924Z

The Bank of Spain has raised the cost of the rescue to the Spanish financial system by 1,376 million euros and has revised downwards the public treasury's ability to recover the



The Bank of Spain has raised the cost of the rescue to the Spanish financial system by 1,376 million euros and has revised downwards the public treasury's ability to recover the aid granted to the banks.

Specifically, the national supervisor already calculates in 65,725 million euros the cost of the rescue to 15 entities carried out by the Banking Ordinance Restructuring Fund (FROB) and the Credit Institution Deposit Guarantee Fund (FGDEC).

Part of the increase in the cost of the bailout is linked to the greater pessimism by the Bank of Spain of the recoverable funds in the bailout of Bankia, which absorbed most of the process.

The report published on Wednesday reduces the ability to recover aid by the devaluation of the financial institution on the stock market by 300 million euros. This amount represents 3% less compared to the 9,857 million euros that the Bank of Spain saw potential recovery at the end of 2017.

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    Source: elmuldo

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