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SPAIN: Extension to Spain's Bank Windfall Tax

SPAIN

More detail on the extension of the Bank Windfall Tax here:

  • "*SPAIN APPROVES NEW MAXIMUM RATE OF 7% FOR BANK TAX: VANGUARDIA"
    *SPAIN'S NEW RATE AFFECTS CAIXABANK, SANTANDER, BBVA: VANGUARDIA" - bbg

Morningstar commented on the broad effects for the Spanish banking sector on this measure today: " In our view, this levy reduces banks’ internal capital generation capacity, reduces Spanish banks’ competitive position, and can potentially impact credit growth over the medium to long term."

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More detail on the extension of the Bank Windfall Tax here:

  • "*SPAIN APPROVES NEW MAXIMUM RATE OF 7% FOR BANK TAX: VANGUARDIA"
    *SPAIN'S NEW RATE AFFECTS CAIXABANK, SANTANDER, BBVA: VANGUARDIA" - bbg

Morningstar commented on the broad effects for the Spanish banking sector on this measure today: " In our view, this levy reduces banks’ internal capital generation capacity, reduces Spanish banks’ competitive position, and can potentially impact credit growth over the medium to long term."

Keep reading...Show less