|Source: Bank of Spain (.cvs file), @dvolatility on Google Docs|
So get ready for bank bailouts.
"The Spanish government is preparing a series of banking-sector reforms required under the terms of the aid package. At its Aug. 24 cabinet meeting, it will present a revamp of Spain's Fund for Orderly Bank Restructuring, known as the FROB, to give it more powers to seize ailing institutions. It will also unveil the framework of a so-called bad bank to purchase toxic real-estate assets from local banks and hold them until buyers can be found." (WSJ)