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KPMG, Deloitte, Ernst & Young and PricewaterhouseCoopers have been hired by Spain’s Economy Ministry to audit the loan books of the country’s banks, the second leg of a government plan to force lenders to come clean about real-estate losses, ABC newspaper reported.
The auditors are set to publish their findings by July 31 after Roland Berger and Oliver Wyman release details of a stress test analysis they are conducting on the industry, the newspaper said, without saying how it obtained the information.
To contact the reporter on this story: Ben Sills in Madrid at firstname.lastname@example.org
To contact the editor responsible for this story: Reed Landberg at email@example.com