Banco Espanol de Credito SA, a unit of Banco Santander SA (SAN), was among sellers of mortgage-linked assets to the state in a government-led program to aid Spanish lenders amid the deepening recession.
Madrid-based Banesto sold 1.3 billion euros (1.7 billion) of the securities, according to data published today by Spain’s finance ministry. Banks have so far sold assets worth a total of 19.3 billion euros under a government program that could buy as much as 50 billion euros of the securities to ease pressure on the financial system.
Below is a table of the five main users to date of the program, according to the finance ministry:
Bancaja: EU1.50 billion La Caixa: EU1.34 billion Caja Madrid: EU1.32 billion Caja de Ahorros del Mediterraneo: EU1.32 billion Banesto: EU1.30 billion
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