21/02/2013
Spanish banks still fragile, says Moody's
Spanish banks will still face funding and liquidity pressures in coming months even though some were able tap bond markets earlier this year, Moody’s Investors Service said in a statement released on February 20. Some larger Spanish banks have been able to sell senior and covered bonds this year, while lenders have also cut their reliance on funding from the European Central Bank and maintained household and company deposits, Moody’s said. “While recognizing the decline in the system’s overall financing requirements, Spanish banks continue to display wholesale funding reliance at a time when accessibility to long- term wholesale markets, while improving, has not normalized.”
