Bank of Spain Calls on Country's Lenders to Disclose Real-Estate Holdings

"Lenders will have to give more information about risks linked to property and real estate, with details of guarantees and reserves set aside to cover them, by March 2011, Deputy Governor Javier Ariztegui said today in a speech in Barcelona. He also told banks to cut their costs in a “rapid and decided manner” and complete the mergers that will reduce the number of savings-bank groups by almost two-thirds."