The Government maintains that the top end of the necessary recapitalization of the banking and savings is flowing again credit for families and businesses, convinced that if no money in the market, hardly able to leave Spain during the crisis. This idea is disputed by the unions, economists such as Luis de Guindos (Pricewaterhouse) and to technicians of the Bank of Spain, meaning that if the boxes have to find capital to meet the minimum set by the Government, the priority will be that and no credit.
A field experience this week to reveal that the boxes, especially those with more pressing needs of core capital, have already decided to close the tap of credit, especially those having to do with personal credit and consumption, yet the mortgage. No money market fund and only customer operations, ie on those who already have a behavioral basis (receipts, movements, possible default ...). Or new loans or refinancing to avoid blowing the competition that customer. To other users directly, or not offered anything or get interest on the table that deter anyone.
Why is that kind of credit? Personal loans are which consume more capital because they have no support behind except the personal guarantee. There is no mortgage or other property. And the banks if not interested in remaining floors, much less to do with personal belongings. A defaulter in the light means taking money to cover the amount awarded.
There is no joy in the granting of loans, like mortgages are also not above 80% of the appraised value. The latest data reveal that the boxes are a minority of operation (only 20% of total), and almost anecdotal that exceed 100% of assessed value. These are explained in different boxes, embedded in processes of transformation, when they were consulted on a personal loan of up to 15,000 euros to purchase a vehicle. The applicant had a steady job and a monthly net salary of 1,100 euros.
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