Spanish banks

Spanish floor clauses

Spanish Banks Have To Reimburse Clients For Floor Clauses

The European Court of Justice (ECJ) has ruled that Spanish banks have to return all the extra money they charged clients affected by the ‘floor clauses’ included in their mortgage contracts. The court has rejected the idea of a time-limited retroactive effect because it is “incomplete and insufficient”.










santander_recurso

Spanish Banks Likely to Avoid the “Swiss rate” scenario

UBS | President Draghi surprised the market positively, both in terms of the magnitude of some of the expected moves (QE extension in the upper end of the range) and also implementing new measures (acquisition of non-financial IG bonds in its asset purchases, and new targeted TLTRO). For (retail) banks like the Spanish, the balance of ECB’s actions has to be considered as positive, especially if trends seen in the swap market are confirmed in Euribor fixings.