Another promise ROTA + PP - The mills € 60,000 delivered to banks are given for lost definitively

60,000 million euros given to banks given definitively lost The Bank of Spain has quantified at 60,613 million euros (5.6 percent of GDP) the cost to the public purse that have had aid granted to the banking system Spanish between 2009 and 2015.the agency considered lost this amount, while noting that this could be higher or lower, as reflected in the report on the financial and banking crisis in Spain (2008-2014) published today and which announced it would in February. Between those years, he explains the Bank capital was injected at 14 institutions in the country amounting to 64,098 million euros, of which the majority (more than 54,000 million) came from the Fund for Orderly Bank Restructuring (FROB). That bill was recovered a total of 4,139 million. The result of this operation, which is 59,959 million euros, is necessary to add 10,390 million euros that will cost the state public aid from different schemes Asset Protection (EPA) and 1,922 million more from other types guarantees. Thus, the bill to rescue the Spanish financial system would amount to 72,271 million euros. However, the Bank of Spain considers that can be recovered 12,198 million, which could vary depending on how evolve the value of assets still owned by the FROB (for example, Bankia). Subtraction of the two amounts leave the 60,000 million that has cost Spanish banks hold. All these figures, In addition, add "the losses they have endured the former shareholders, holders of preferred shares and subordinated debt," which in any case are considered public aid and "interest earned or expenses incurred". Source: The Bank of Spain gives for lost 60,613 million public money injected into banking between 2009 and 2015

































Posted by Antonio Marín Segovia