Spanish Savings Banks' Regulation Bill Estimated at €18 Billion [BNN Bloomberg (Canada)]
Banco Santander, S.A. Sponsored ADR (Spain) (SAN)
US:NYSE Investor Relations:
santander.com/csgs/satellite/cfwcsancomqp01/en_gb/corporate/shareholders-and-investors.html
Company Research
Source: BNN Bloomberg
The expenses, which are tallied in a report currently being prepared by the Spanish Confederation of Savings Banks, or CECA, reflect salaries for regulatory staff, taxes as well as contributions to the European Union's bank resolution fund SRF and deposit insurance schemes, according to people familiar with the matter. The SRF payments have effectively come to an end this year after the fund reached its target level. Excluding taxes, CECA estimates that the costs averaged about €2 billion per year through the period, the people said, asking not to be identified discussing the unpublished information. The calculations in the report aren't final, the people said. The CECA report, which doesn't cover the country's largest banks, underscores the regulatory burden for Europe's lenders. Executives have long lobbied for a reduction, saying capital cushions built up after the financial crisis shield them in times of stress. By contrast, regulators point to last year's demise of Credit
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News
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SAN
Earnings
- 5/1/24 - Miss
SAN
Sec Filings
- 6/18/24 - Form 6-K
- 6/17/24 - Form SBSE-A/A
- 6/13/24 - Form 6-K
- SAN's page on the SEC website