Spanish banks need over 50 billion euros to clean up balance sheets

The independent audit carried out by consultant Oliver Wyman estimated the Spanish banking sector needed additional capital of €53.745bn to shore up balance sheets because of its exposure to the ailing real estate sector if the consolidation currently taking place among lenders is taken into account, the Bank of Spain said on the 28 September 2012.

• Primary Source

ESO: Background information: Madrid faces test over bank review http://www.europeansources.info/record/madrid-faces-test-over-bank-review-rajoy-fights-growing-spanish-turmoil/

Deutsche Welle, 30.9.12: Spain suffers through stress test http://www.dw.de/dw/article/0,,16274928,00.html

Banco de España / Bank of Spain: The restructuring of the banking sector in Spain: Results of the independent valuation of the Spanish banking sector, September 2012 http://www.bde.es/bde/en/secciones/prensa/infointeres/reestructuracion/

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