Bad Bank in Spain
In 2012 the Spanish government granted powers to the Fund for orderly restructuring of the bank sector (FROB) to force banks to pass toxic assets to a financial institution whose role is to remove risky assets from banks balance sheets and to sell off the assets at a profit over a 15 year period. The SAREB (Restructured Banks Asset Management Company) has close to 62 Bn € of assets on its balance sheet.
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Famous quotes containing the words bad, bank and/or spain:
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and your bad words. Spit out
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Come here! Come here!
Come eat my pleasant fruits.”
—Anne Sexton (1928–1974)
“The English language is like a broad river on whose bank a few patient anglers are sitting, while, higher up, the stream is being polluted by a string of refuse-barges tipping out their muck.”
—Cyril Connolly (1903–1974)
“Heroic ages are not and never were sentimental and those daring conquistadores who conquered entire worlds for their Spain or Portugal received lamentably little thanks from their kings.”
—Stefan Zweig (18811942)