Late Payments at Spanish Banks, Cooperatives, Credit Institutions Hits 7%, Highest Since 1995

"Courtesy of Google Translate and also my friend Bran who lives in Spain, please consider Financial System Late Payments Verge on 7%.

The delinquency rate of the Spanish financial system credit (banks, cooperatives and credit institutions) rose in July to 6.936% against 6.690% in June, according to data released today by the Bank of Spain.

The delinquency rate remains at its highest level in 16 years, since February 1995. When compared with July 2010, the data show a significant increase in bad debts, because in that month was in the 5.483%.

Of the total of 1.79 billion in loans, doubtful loans are 124.618 million, compared with 100.527 million from the same month last year..."

at  http://globaleconomicanalysis.blogspot.com/2011/09/late-payments-at-spanish-banks.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29