Debt default levels at Spanish banks reaching 10%

In other word, 1 out of every 10 creditor is likely to default.

The tasa de morosida at Spanish credit institutions has reached 9.86% in July, breaking the level of 9.42% reached in June, according to the Banco de España.

Spanish banks are now holding a bag of bad debts totalling some 170.000 million euros, and the amount available to lend in the system has dropped to 1.71 trillion euros, down from 1.74 trillion in June.


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