http://www.bloomberg.com/news/2011-06-27/spain-banks-hide-eu50-billion-in-bad-assets-confidencial-says.html
Spanish banks have 50 billion euros ($70.7 billion) in unrecognised problematic real estate assets,El Confidencial reported, citing a report by the Boston Consulting Group.
The consulting group estimates that Spanish banks need between 20 billion euros and 30 billion euros in additional capital and that Spain’s bank rescue fund, known as the FROB, could end up taking over 20 percent of the banking industry, El Confidencial added.
Spanish banks have 50 billion euros ($70.7 billion) in unrecognised problematic real estate assets,El Confidencial reported, citing a report by the Boston Consulting Group.
The consulting group estimates that Spanish banks need between 20 billion euros and 30 billion euros in additional capital and that Spain’s bank rescue fund, known as the FROB, could end up taking over 20 percent of the banking industry, El Confidencial added.
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