Spanish banks face new reporting requirements - Fox News Latino

Spanish banks face new reporting requirements - Fox News Latino: "Spanish banks have been more candid about their balance sheets than their Irish counterparts and will now be required to publish quarterly reports on bad debt ratios and financing needs, the head of Spain's central bank said here Monday.
Miguel Angel Fernandez Ordoñez commented in a speech at the convention of the Financial Markets Association.
The governor of theBanco de España addressed the challenge of reassuring markets about the solidity of Spanish banks after the crisis that recently forced Dublin to accept aid from the European Union and International Monetary Fund to shore up Ireland's badly wounded financial institutions.
As both Ireland and Spain are suffering from the collapse of massive real estate bubbles, some investors fear Spanish banks with heavy exposure to property loans could suffer the same fate as their Irish counterparts.
Insisting that 'the recipe is more transparency,' Fernandez Ordoñez said Spanish banks will be required to report every three months in detail on bad debt ratios."

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