ECB tu cut funding in securitization, Spain top victim

Por finanzas • 4 Sep, 2008 • Sección: Otros

ECB has decided to lift the “haircut” (2% to 10-15%) of the money it gives to commercial banks. Until recently, ECB was giving back 98% of discounted money from commercial banks. But now it willbe much above. Therefore liquidity problems will flourish soon.

Spanish banks have discounted EUR98bn since suprime explosion.

Fitch Rating the leading rating agency in Spain, has downgraded several banks, especially savings banks: Caixa Catalunya, CAM, Santander titulizaciones, among some.

Mainly the rating agency changed the outlook. Santander and BBVA are out of this scenario as they diversified its portfolio.

   
 
 05/08/2008 - Fitch Revises Outlook on Caixa Catalunya to Neg;Downgrades Individual to ´B/C´  
 
 05/08/2008 - Fitch Affirms Spain’s Caja de Ahorros de Murcia at ‘A+’; Outlook Stable   
 
 30/07/2008 - Fitch Revises Banco Sabadell’s Outlook to Stable; Affirms at ‘A+’   
 
 21/07/2008 - Fitch Revises Caja Madrid’s Outlook to Negative; Affirms at ‘AA-’  
 
 21/07/2008 - Fitch Affirms Spain’s Caja Vital at ‘A’; Outlook Stable  
 
 15/07/2008 - Fitch Affirms Banco Santander at ‘AA’/Stable;Alliance and Leicester’s ‘A+’  
 
 11/07/2008 - Fitch Downgrades Caja Castilla La Mancha to ‘A-’; Changes Outlook to Negative  
 
 11/07/2008 - Fitch revises Caja Canarias’s Outlook to Negative; Downgrades to Individual   
 
 08/07/2008 - Fitch Affirms Banco Santander, Banesto and Santander Consumer Finance at ‘AA’;  
 
 01/07/2008 - Fitch Affirms Spain’s Guipuzcoano at ‘A’; Outlook Stable   

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