Spain will not set up bad-asset bank
Madrid - Qna
The Spanish government will not set up a state bank that would hold the country''s ailing banks'' real-estate assets, Spanish media reported Thursday, citing government sources. Despite the opposition shown by major Spanish banks, such as Banco Santander SA (STD) and Banco Bilbao Vizcaya Argentaria SA (BBVA), former Spanish savings banks were in favour of a state-run bank that would take in property-related assets now held by the sector. Earlier this week, Finance Minister Luis de Guindos said that no final decision on this matter had been made. (QNA) SSS/LY
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