Spanish banks face deeper losses on 176 billion euros of real-estate assets
"Spanish banks face deeper losses on 176 billion euros of real-estate assets. "You have to remove any kind of shadow of doubt over the valuation that you have of these assets in your balance sheet,” Luis de Guindos, tipped by newspapers as a contender for finance minister in a new People’s Party government formed by Rajoy, said in an interview.
De Guindos said he favored stricter rules on how banks account for depreciated land values.
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