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Spain, Central Bank "brands" deposits: banks that set high rates will be penalised

Bank of Spain cracks down on banks that apply too high a deposit rate: 16 will be supervised.

Spain, Central Bank "brands" deposits: banks that set high rates will be penalised

According to press sources, the Bank of Spain is considering penalize banks that apply too high a deposit rate by raising capital requirements by 0,75 points. The Spanish central bank is in fact making its supervision of the banking system increasingly stringent, in line with the recommendations of Brussels.

The institute has made it known that will send inspectors to 16 Iberian banks and not only to the two main ones Santander and BBVA as it had initially decided. Supervision procedures are a necessary condition for obtaining international loans.

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