At the same time that the decisive text was removed from the European summit last night in Brussels, the news that the Spanish bank received was even less encouraging. The five principal lenders that comprise the Spanish bank in our country have already prepared to face additional capital requirements of more than 21 billion euros, a figure that could exceed 30 billion euros if credits granted to the Public Administrations are also granted.
According to sources from Bank of Spain, Santander, BBVA, Bankia and La Caixa would have to meet additional capital requirements that would be between 4.5 and 5.0 billion euros. The same sources reduced Banco Popular's capital requirements to 1 billion.
How will the banks comply? The two biggest will do so through capital increases, while Bankia would have to return to the Frob (a banking recovery fund). La Caixa would meet their requirements through sales of industrial shares. Popular has yet to define its recapitalization strategy.
