According to information published by the Spanish Bank the slowness valuation is the highest of last twelve years. The information registered until January 31, 2009 informs that 72.048 million euros exist in loans of doubtful cashing, what supposes a valuation of 3,86 %. In January of last year the slowness was in 1,04 %, with only 18.385 millions of bad credits.
The January information supposes the highest number of the history and shows the big deterioration of the Spanish economy. The increase of bad debts of last months is the biggest and it has been producing in continuous, although already in July, 2008 the creditors' Martinsa-Fadesa contest generated at once 9.828 millions of euros to itself in slowness.
The growth of the slowness in January has affected to the savings banks which valuation happened from 3.79 % in December to 4,45 % and now they have certa of 40.000 million euros in assets that do not know if they are going to charge. The banks are slightly better, with a valuation of 3,17 %, but his mulberry also has grown and it is about 25.700 million euros. Other entities, like the credit cooperatives (land-banks mostly) have a slowness of 3,24 %. And the financiers, support his slowness level in 6,09 %, the highest valuation.
This evolution of the slowness is affecting at the levels of supply, the funds that the entities must keep for system if they have to confront non-payments. The Spanish financial system has 45.539 million euros, a number clearly lower than the real slowness, since only it would cover 63 %. For entities, the savings banks have a coverage of 53,8 %, opposite to 73,7 % of the banks and 74,6 % of the credit cooperatives. In January, 2008, the coverage funds practically were duplicating the bad debts balance. Also, of the slowness towards the financial system, the non-payments spread to the commerce with not satisfied debt that in January came almost to 2.000 million euros, 37,3 % more than in January, 2008, as he informs the National Institute of Statistics.
With these tendencies and the worsening of the crisis, the Spanish financial system so praised by his regulation and his coverages also appears like vulnerable. It will be necessary to control closely his evolution and to see what measurements take both from the proper sector and from the Public administration.
- To do a trackback to this article, it uses this linkage
- To continue the comments of this article for RSS, it uses this linkage
- There are no comments yet...
We want to put the economic and financial actuality within reach of your hand, with a simple and direct language, so that we all could comprise it. The real estate market, the Stock Exchange, the different options to invest, you count and bank deposits... So that you know what to do with your money.
- Spain is the country with more deflation risk
- The slowness in maxima for 12 years
- Housing, it continues the collapse
- Movements to receive deposits
- The Euribor keeps on beating descent records
- Week of breather and increases in Stock Exchange
- SICAV, an alternative of investment
- The unknown side of the mortgages in Spain
- Loans 2.0, credit between individuals
- Price war in the feeding
- It continues the fall of the interest rates and the Stock Exchange
- Measurements of the government against the unemployment, without consensus
- The bank crisis in Stock Exchange
- The unemployment in Spain and the bad economic management
- The economic crisis generates opportunities
- The labor calendar of 2009
- TAE, meaning and calculation
- Interprofessional minimum wage 2009 and minimal pensions
- The IPC of the rents: calculation and update
- Forecasts of the Euribor for 2009
- The best deposits of January, 2009
- The Euribor: calculation and meaning
- Evolution of the interest rates and his consequences
- Where to put the money in epochs of crisis
- Pension plans 2008 of the Santander