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ing:
1) 36.5 bp for institutions with AA rating;
2) 44.8 bp for institutions with A rating.
For beneficiary institutions that are not comprised in the previous two
categories, 44.8 bp plus a supplementary annual fee of 10 bp.
a€￠ If necessary, credit institutions' re-capitalization may be carried out through the government's
acquisition of non-diluting instruments such as preference shares.3/
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1/ Royal Decree 1642/2008, October 10, 2008.
2/ Royal Decree Law 6/2008, October 10, 2008.
3/ Royal Decree Law 7/2008, October 13, 2008.

The impact of the credit system

The real estate crisis has had an inevitable impact on the banking system. At the end of 2009, loans to this sector were classified as a bad debt of 9.6% of loans (a?? 43 billion), but still far from a high incidence reached 13% in 1993. A special investigation by the Central Bank, however, stressed that to have a complete picture of the situation must also add to the suffering of a?? 59 billion of other loans uncertain recovery, a?? 60 billion of real estate acquired by banks in payment for loans in the past and a?? 4 billion of loans already written off entirely (write-offs). In short, the downturn in the property sector is thus weigh on the banking sector to a?? 165 billion, 37% of total loans to this sector. Although this is a significant amount, it should not result in system-wide problems of stability since the specific provisions covering these loans to 26%, rising to 35% if you add the general provisions available. The Bank of Spain also estimated that the overall coverage may be increased to 70% if the operating income in 2010 was only equal to that of the previous year. With the exception of finance companies in the real estate sector (about 18% of the loan portfolio), the quality of the portfolio of Spanish banks as a whole appears reasonable given the severity of the economic situation.

A crisis manageable

According to the research department of BNL, 'the situation of Spanish banks is attracting too much attention, perhaps especially when compared with the weakness shown by other European banking systems, such as is the case of Germany.' Despite an increase of 65% of provisions, the Spanish banking system ended 2009 with net profits (nearly a?? 20 billion) in limited flexion (-20%), achieving a non-marginal increase of the two main indicators patrimonalizzazione (tier 1 to 9.7% an increase of 1.3 percentage points to 8.1% core tier 1 an increase of 1 percentage point). Detail is not secondary, the increase of these two reports is due entirely to increase the number (net worth +13%) compared to a denominator (risk-weighted assets) remains unchanged. Even the effect of this increase, ROE (Return on Equity) fell by almost three percentage points, ranking still 9%, the highest level in Europe (3.6% in the case of Italy).

crisi edilizia

Le ripercussioni sul sistema creditizio

La crisi del settore immobiliare ha avuto un inevitabile impatto sul sistema creditizio. A fine 2009 i prestiti a questo settore classificati in sofferenza risultavano pari al 9,6% dei prestiti erogati (a?? 43 mld), un'incidenza elevata ma comunque lontana dal 13% toccato nel 1993. Una apposita indagine della Banca Centrale, tuttavia, ha messo in rilievo che per avere una completa rappresentazione della situazione biso