Eight out of 90 European banks have failed stress tests carried out by the European Banking Authority (EBA) and designed to ensure they can withstand another financial crisis. A further 16 banks were in the danger zone.
Proposed new capital requirements for banks
Under new measures designed to increase market confidence in the shaky financial system in Spain, the Government proposes to take a stake in any banks or savings banks that violate new capital requirements.
Less banks in the third quarter of 2010
The number of branch offices of banks and savings banks fell by 1.8% in Andalucia in the period up to October 31st 2010, with 124 offices closing during the third quarter.
The sardine man speaks
Former kung-fu footballer Eric Cantona, no stranger to controversy of one sort or another, has now made a plea for people to protest by withdrawing all their money from banks to spark their collapse. But would such a move actually work? Who, what, why: Would a mass cash withdrawal bring down the banks?
19 banks denounced for unfair practices
The Asociación de Usuarios de Banco, Cajas y Seguros (Banks and Insurance Users Association) has denounced in court a total of 19 banks, including the Cajasol and Cajamar, of unfair practices by limiting mortgage rate decreases.
RBS in more trouble
The RBS bank, the second largest in the UK, has revealed that it is facing losses of £28 billion for 2008 as Mr Bean prepares to hurl billions more at the banks in a second bail-out, the first having failed.
PM raises guarantee limit to €100,000
The Spanish government has announced proposals to guarantee bank savings up to a €100,000 limit, a figure which is double the amount agreed by the 27 EU member states. Prime Minister José Luis Rodríguez Zapatero also announced the setting up of a €30 billion fund, extendable to €50 billion, to support the financial system in Spain. Ireland, Poland, Germany and …
Financial turmoil continues
The Spanish Government has decided upon an immediate strengthening of the Deposit Guarantee Fund (Fondo de Garantía de Depósitos or FGD) following upon the meeting between Prime Minister José Luis Rodriguez Zapatero and the presidents of the major banks.