Spain Bank Audit to Reveal up to EUR65 Billion Capital Needs - Report

Date : 06/14/2012 @ 3:03AM
Source : Dow Jones News
Stock : Banco Santander, S.A. Sponsored Adr (Spain) (STD)
Quote : 6.1  0.0 (0.00%) @ 2:05AM

Spain Bank Audit to Reveal up to EUR65 Billion Capital Needs - Report

Banco Santander (NYSE:STD)
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A new audit of Spanish banks is expected to uncover capital needs of between EUR60 billion and EUR65 billion, ABC reports, citing a preliminary draft of a report by auditors Oliver Wyman and Roland Berger.

The Spanish government has requested up to EUR100 billion in European Union aid to recapitalize its ailing banks and has asked for the external assessment to help determine exactly how much they need. The results of the audit are due later this month.

-Write to Madrid bureau at djmadrid@dowjones.com

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