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Santander, BBVA and Caixabank need €13.28 in extra provisions

By Julia Pastor, in Madrid | Last week, Rajoy’s government passed a Royal Decree, which forced all the Spanish financial entities to provision a total amount of €50bn to cover the losses coming from the property boom effect. But banks had not yet calculated their corresponding piece of the cake. On Tuesday, the three biggest Spanish entities, Santander, BBVA and Caixabank, communicated to the supervisor body –the Spanish Securities Market Commission– the…