BERLIN (AP) -- A German journal claims the European Central Bank is lending Spanish banks billions of euros beneath conditions more inexhaustible than its manners allow.
Weekly Welt am Sonntag reported Sunday that the ECB is accepting Spanish supervision holds as top-tier material in lapse for 16.6 billion ($21.33 billion) in loans to Spanish banks. The banks are straining beneath the weight of bad debt from the 2008 fall of Spain's actual estate sector.
The paper, that bases its claims on publicly existing documents, says the ECB's own manners meant many of the supervision holds should be deliberate lower-level material or not agreed at all.
Major general ratings agencies acceptance Spanish supervision holds usually second-tier credit-worthiness.
Officials at the Frankfurt-based bank didn't right away reply to phone calls and emails requesting comment.
