Outlook for the Spanish banking sector in 2013 and beyond: Completing the MOU and addressing remaining challenges
Fecha: enero 2013
Autores: Santiago Carbó Valverde, Francisco Rodríguez Fernández
Etiquetas: Sistema bancario, Reestructurasción bancaria, SAREB, Activos dudosos
The implementation of the MoU requirements has shown significant progress since November 2012. Key steps such as the approval of the restructuring/resolution plans, the injection of the necessary capital for banks and the effective transfer of impaired assets from the banks to the asset management company Sareb, have been carried out. Importantly, these events have coincided with a relatively calmer situation in sovereign and private debt markets that has brought some stability to financial institutions. This can been seen in the increase in deposit inflows in November 2012, after observing a continuous outflow since March 2012.
However, loans continued decreasing. Adoption of important pending measures, such as initiation of activities of the asset management company Sareb and the completion of new bank restructuring plans, should also be addressed in 2013. The completion of the efficiency plans of the banks in 2013 may help create a better environment for lending, but the growth of bank financing will ultimately depend upon the improvement of macroeconomic conditions.