Spanish savings banks have obtained huge chunks of the government support from

an asset purchase program called: “Fondo para la Adquisición de Activos Financieros (FAAF)” which according to the website is: a fund created with the intention of boosting lending in the credit market in order to empower productive activity…

How safe are Spanish banks?

The savings bank Caixa D’Estalvis de Catalunya hovers around the top of the list with 1,024,583,356€ (Just over 1 billion euros) participation in the fund (i.e. which obtained money). Caja de Ahorros y M.P. de Madrid is also up there with just over 1.3 billion euros as well as the Caja de Ahorros y pensiones de Barcelona.

Banks which have received around 1 billion euros (or just around 5% from the pot) include the Banco de Sabadell, S.A., the Banco Español de credito, S.A., and the Banco Popular Español, S.A. The full report can be downloaded here.

So the obvious question that arises amongst most if not all people who have account in Spanish banks is: How safe is my Spanish bank?

Image by srgblog under Creative Commons.