Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Spanish Banks Hooked on ECB Cash for Years: Chart of the Day

Spanish banks will stay addicted to European Central Bank funding “for years to come” as investors sidestep their bonds, according to analysts at Evolution Securities Ltd.

The CHART OF THE DAY shows borrowing from the ECB by the nation’s lenders since the inception of the euro, based on Bank of Spain figures. They asked for a record 130 billion euros ($166 billion) in July, accounting for 29 percent of total borrowing from the central bank, almost four times their average 8 percent share since 1999, according to London-based Evolution.

“Guaranteed access to cash at 1 percent is a difficult addiction to kick, especially when the market isn’t sure how much it wants to lend,” said Gary Jenkins, Evolution’s head of credit research. “The amount needed is likely to remain elevated for years to come, compared with what it used to be.”

Spanish banks have been all but shunned by international investors since the collapse of a housing boom in 2007 triggered the worst recession in 60 years, with the unemployment rate surging above 20 percent. Bad loans reached 5.5 percent in May from 4.7 percent a year earlier.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.