Spain to sweeten mortgage-backed securities, BBVA head says

01/25/2008 | Financial Times (free content)

Spain's government is trying to enhance investor interest in mortgage-backed securities issued by Spanish banks by offering extra guarantees, the chairman of the country's second-largest bank said. Spain's slowing economy, and the end of its housing boom, has made Spanish mortgage-backed securities unattractive to foreign investors. BBVA chairman Francisco Gonzalez said Spanish demand for mortgages and personal loans was falling, but corporations remained active. The bank's loan growth in 2008 should be "in the low double-digits."

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