Spanish Banks’ Record ECB Loans Undermine Creditors

Spanish Banks’ Record ECB Loans Undermine Creditors

Angel Navarrete/Bloomberg

Bankia Group is among lenders that increased mortgage-backed debt issuance by 35 percent since December 2007 to 535.1 billion euros, or 53 percent of their real-estate loans, according to Spanish Mortgage Association data at the end of 2011.