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Rajoy Asks Bank of Spain to Advise on ‘Bad Bank,’ Mundo Reports

Mariano Rajoy, Spain’s prime minister-elect, has asked the Bank of Spain to prepare a report on the possible creation of a “bad bank” to take over troubled assets, El Mundo reported, citing unidentified people in his party.

Bank of Spain Governor Miguel Angel Fernandez Ordonez is putting the finishing touches to the report, which will explain the pros and cons of creating a such a bank, the newspaper said.

To contact the reporter on this story: Sharon Smyth in Madrid at ssmyth2@bloomberg.net

To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net

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