Spanish banks display risky appetite for property

AFP: Spanish banks display risky appetite for property: "They are officially banks but they have become Spain's main real estate agents, according to data from the country's banking sector which reveals the extent of their risky property assets.
The Bank of Spain had asked all 17 of the country's fragile regional savings banks, which account for about half of all lenders, to supply it with details of their exposure to the collapsed real estate market.
Unsurprisingly, the savings banks held far more risky assets than the main banks, based on a calculation of the figures last week by AFP.
The nation's seven main banks held 45 billion euros ($61 billion) in risky assets and the 15 of the savings banks that have so far published their figures had around double that, or 90 billion euros."

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