The Spanish banking crisis is starting to spread from the country’s regional banks to its national, as the full extent of the system’s problems have yet to be exposed.
While BBVA still has access to another $9 billion in commercial paper, it is still another sign of rising stress levels in interbank lending associated with Spain.
BBVA stock is showing signs of the stress:
Santander would be the next likely target for worry, though there is some belief that it is not too exposed to the Spanish domestic lending market.
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