The Bank of Spain needs a solution for the CAM, and it will be too late once again and, as always, much more costly than expected. With the number of Spanish lenders interested in the bidding, which is conveniently inflated through invitations from the supervisor, the only option for finding a buyer has been to design a generous system of guarantees that could create a 17 billion euro deficit for the Frob.
2.8 billion are needed to reinforce their capital, and at this point nobody is ready to hand that much over.
If liquidity lines are added, the bill will surpass 26 billion euros. All of this is in an account that the Bank of Spain has kept away from the inspectors for several years, meaning it was a good partner for Cajastur.
