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Spain May Make Banks Cut Property Asset Values, Expansion Says

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Dec. 28 (Bloomberg) -- Spanish Prime Minister Mariano Rajoy may instruct the country’s banks to cut the value of their real-estate assets by an average of 20 percent as part of a plan to make them declare potential losses and rebuild their credibility, Expansion reported, citing unidentified people with knowledge of the matter.

To contact the reporter on this story: Angeline Benoit in Madrid at abenoit4@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net

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