Spanish Bad Loans Soar To New Record High

SpanishBadLoansSoarTo New RecordHigh

Despite the onslaught of confidence-inspiring flim-flam from leadership in Europe and a Spanish Prime Minister (and finance minister) desperate to distract with "soft" survey based data, the hard numbers keep coming in and keep getting worse and worse. The latest, seemingly confirming the IMF’s fearsome forecast that European banks face massive loan losses in the coming years, is Spain’s loan delinquency rate. BadloansacrossSpanishbanksamountedto $247 billioninAugust – a new record-breaking 12.12% ofallloansoutstanding (now 30% higherthananyprevious crisis inthehistoryofSpain). Credit creation continues to implode with a 12.3% plunge in total loans outstanding but of course, none of that matters (for now), as Spanishbondspreads (andyields) pressbacktowardspre-crisis lows…

Charts: Bloomberg

shared via

Deja una respuesta

Tu dirección de correo electrónico no será publicada. Los campos obligatorios están marcados con *

Este sitio usa Akismet para reducir el spam. Aprende cómo se procesan los datos de tus comentarios.