The bench asked over 35,000 million to the ECB – Publico.es

The bench asked over 35,000 million to the ECB – Publico.es

The Spanish asked financial institutions more than EUR 35,000 million of liquidity to revive the credit that this Thursday the European Central Bank (ECB) within the package of measures has been up in recent months to revive the weak economy in the eurozone, according to analysts cálcullos.

The figure is somewhat higher than the estimates of Economy Minister Luis de Guindos, who has Spoken 30,000 million. However, likely defer a significant portion of the requests for the second auction in December, according to a banking source and estimates of home analysis.

In this regard, Bank of America Merrill Lynch estimated that the Spanish financial sector prompted some 12,500 million euros in the first auction Thursday and 24,000 million in December. Last June, the ECB announced a plan for long-term financing called TLTRO (for its acronym in English) by 400,000 million euros including auction this September 18 September and another December 11. In addition, it will conduct additional operations in March, June, September 2015 and June 2016 Analysts estimate that the eurozone institutions to ask about 280,000 million.

Analysts estimate that banks Eurozone will ask about 280,000 million

The main Spanish banks CaixaBank has adelandato, during the presentation of results, which will apply “around” 7,000 billion, that is zoned to share your credit. The nationalized Bankia announced Wednesday that the ECB solicta 2,700 million, the maximum amount allocated per share in the credit market, and further explained that he had decided to transfer this amount to loans to self-employed and SMEs . Similarly, Banco Popular , which fee may apply for up to 5,800 million euros, said Wednesday he has already asked 2.847 billion, which also go to SMEs.

Ni Banco Santander , which correspond 9,000 million, or BBVA , request funding for up to 5,600 million euros, have revealed what they will ask. Banco Sabadell , able to order almost 5,000 million euros, would not exhaust the full capacity until December auction, as Bankinter , which prompted “very likely “1,500 million corresponding to it in December, according to a source close to the bank.

Some experts believe that banks could have waited until the auction on December 11, after the last stress test; but the fact that the ECB president, Mario Draghi, confirmed at the last meeting he had touched a soil with respect to interest rates, lower them again until after 0.05%, meaning that waiting subtraction because not come out loans cheapest . At present, banks in the eurozone have the credit lines denominated three-year LTRO, 0.25%, and operations MRO ( main refinancing operations ), 0.15% introduced after the crisis loans to one, six and twelve months and in force until 2016.

In the countries of the periphery of the eurozone, improved financing conditions still not have moved to the real economy and although the new credit begins to grow slightly, loan balances still yield negative rates. In addition, the financial sector in Spain ( rescued in late 2012 and 2013 with 41,300 million euros of European state aid due to the high volume of toxic assets left by the bursting of the housing bubble ) has been subject a process of deleveraging has slowed lending to households and businesses in the context of demands for much higher solvency.