Bank of Spain denies Spanish banks are delaying losses by acquiring NPAs

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The Bank of Spain has denied Spanish banks are postponing the recognition of losses linked to property developers by acquiring underlying non-performing assets (NPAs).

As well as restructuring loans to Spain's ailing property developers, Spanish banks have frequently taken a more active role in managing the underlying assets - an approach that was tested in Spain's property crisis in the 1990s. Many have set up specialist real estate units to manage NPAs and sell houses on directly to consumers.

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