Spanish banks need financial assistance amounting to 15 billion euros

Central Bank of Spain said that many of the country's banks need financial help, writes Bloomberg. 12 Spanish banks, including branches of Deutsche Bank and Barclays, in need of cash infusions in order to match their capital requirements of regulators. The total investment should be around 15 billion euros, with the most difficult situation - the banks and Bankia Novacaixagalicia, requiring 5.8 billion and 2.6 billion euros, respectively. Meanwhile, rating agency Moody's downgraded the credit rating on the eve of Spain to the level of "Aa2". The agency stated that the Spanish financial institutions may take up to 50 billion euros to meet capital requirements. Source: Banki.ru