Loans to large companies fall by 32%, despite government optimism

Loans to large companies fall by 32%, despite government optimism

Despite the optimism of the Government, the granting of new credit to companies continues to fall. The latest data from the Bank of Spain of new operations in the business sector recorded an average decrease of 20.01% in February on a year-to-year basis, to 25,418 million. The regulator differentiates between credits up to one million euros and from that figure. In the first case, statistics show an increase of 5.98% (10,694 million) in February on a year-on-year basis, which could be interpreted as the beginning of the flow of credit in small and medium-sized companies. On the contrary, the granting of loans in excess of one million euros, it is understood that large corporations plummeted 32.11% in February on an inter-annual basis, to 14,724 million. In addition, the series of new loans is contaminated by refinancing, novations, and changes in the terms of contracts, which are included. Last week has seen companies like the construction company FCC have refinanced a loan of more than 4,500 million. That is, not all are new loans, even if they are accounted for as such. Or other companies such as Martinsa, Colonial or Eroski, which continue to renegotiate their syndicated loans against the clock in order to avoid being liquidated or in a bankruptcy situation, as the case may be.

To that reality we must add another: that is part of a very high stock. The repayments (cancellations) are greater than the new amounts granted. Result: the net balance does not increase. Even before the crisis, the stock grew and grew because the rates of granting new loans to companies and families were always higher than what was amortized.

In this sense, it shows that the credit does not pick up is that the indebtedness of the companies or the historical outstanding balance (stock) of loans granted by the banking sector to the business sector decreased by 11% in February, to 636,138 million, without counting the flowing cash (discounts, amortizations …).

The experts ask: how to make compatible the correction of the excess of indebtedness of certain sectors and companies (the so-called deleveraging) with the provision of new credits to viable and profitable projects? Difficult to explain. Of that reality, the convoluted words of the deputy governor, Fernando Restoy, when saying that there are “signs that the rate of credit decline in Spain is stabilizing”, a condition to begin to see that credit begins to stabilize its levels and leaves to fall

Most of the bankers defended last week in a conference in Madrid that their financial institutions are ready to give loans to viable business projects, but none offered data of this segment. From Javier Marín (Santander) to Ángel Cano (BBVA) to Jaume Guardiola (Sabadell) and even José Sevilla from Bankia were quite optimistic. While Francisco Gómez (Popular) and María Dolores Dancausa (Bankinter) were more measured in the optimism about the return of liquidity. “The outstanding balance or stock will not begin to grow, as soon, until 2015,” Cano said.

Guardiola, and some other banker, also stressed that “it is a priority” to accompany the companies in the export process since many of them are going out of Spain to sell their products.

For its part, the Government begins to send messages that the credit returns. But on what data is it based? In which the new credit granted to families in recent months sees some rise.

According to the latest data from the Bank of Spain, the new credit granted to families grew by 17,22% last February, compared to the same month of February 2012, to 4,545 million. By sub-sector, mortgage loans increased by 25.76% in the same month, to 2,021 million, and consumer credit increased by 32.48%, to 1,244 million. On the other hand, new credit for other purposes fell by 3.83% to 1,280 million.

These percentages and those of some previous months are what gave rise to the Secretary of State for the Economy, Fernando Jiménez Latorre, to say that “families and companies will soon notice access to credit”. He predicted that consumption “will rebind throughout this year” and indicated that “the recovery will be more balanced”.

According to a financial expert, one can not forget that part of very low figures last year, when the bank granted mortgages “almost with droppers.” In fact, the new credit to families during the crisis (from 2009 to 2013) fell by 70.12% to 21.853 million.

When analyzing the historical indebtedness (stock or volume) of the families, the same thing happens when reviewing the business: the amortizations, especially the cancellation of mortgages, exceed the granting of new loans, with which the net balance does not rise. The volume of loans that families owe to the bank amounts to 777,801 million, 5.51% less than a year ago. Hence the hackneyed phrase that families are also deleveraging. However, most of its debt (606,774 million) corresponds to mortgages. That is, families, continue to pay their mortgage religiously, as much as possible, but they think very much about applying for a new loan dreammail-europe.org/2018/03/29/home-loans-for-those-who-have-bad-credit-score/ to pay for a trip or the communion of the child, as they did in the good years.

Investment: Apply for NV certificate and save taxes

 

 

Image: Woman loves piggy bank 

Berlin – Investors with low incomes are advised to apply to the tax office for a non-assessment certificate (NV-attestation) in order to save taxes. This was explained by the Federal Association of German Banks in Berlin. If such a certificate is presented to the Bank, interest and other capital income may be paid without deduction of withholding tax. This also applies if they exceed the saver lump sum of 801 euros per year.
The NV certificate is for consumers whose taxable annual income is expected to be below the basic allowance of EUR 8004. For couples, the amount is 16,008 euros.

 

 

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Credit Card Combination Relief – How A Credit Card Debt Solutions Program Works

Most of the people claim that debt management strategy is the only alternative

You need to know the techniques in order to obtain out of debt faster. With this, the consumers are required to have plans. The first thing that you need to perform is to check your spending practices. Next, you should assess your own financial condition. It includes getting a precise statement of your income, present assets, and liabilities plus any debt income percentage. You should also know how credit functions. It is necessary during this phase. In case your dues are too heavy you are able to seek help from the firms who are specialized in credit counseling.

The best issue with debt is that as soon as you’re in it, it can appear impossible to get out of due to late and overcharge costs. These items make it so that even though you pay small amounts on a charge card or bill, the balance by no means changes or even increases. This is the reason settlement groups really can assist. Once you negotiate a payback plan or settlement choice, the fees will stop. Which means that debt can actually be paid back, and thus, that the programs are certainly not useless. In fact, settlement groupings can be quite helpful!

If this seems as well overwhelming, there are companies which will help. A debt settlement https://dedebt.com/debt-settlement/ program works on your behalf to negotiate your expenses with the creditors. There are many reliable companies who can give you a free of charge quote, online and in mere seconds. This is comforting to those searching for debt relief because you can look up the Internet on your own time.

There are many reasons why you are facing the issue of massive credit card debt. A few of the blame can be attributed to a person while the bulk of the fault may be shouldered by someone else-bad luck or even lord. Well, whatever the reason, the truth is you are stuck in a crisis so you need relief.

Why do the professionals inform you to take bankruptcy as your latter?

It is mainly because of the future associated with it. As a matter of fact, though you could possibly get rid of your debt settlement by submitting bankruptcy, you will have to face several problems because of that, later on. For instance, once you have filed personal bankruptcy that will remain in your credit history close to 10 years which will affect a person badly in the future. Even if you attempt to take a loan, this will associated with banks reject your mortgage and even when you are trying to get a new job, they will inspect credit history.

Again, it really is it definitely possible that you will get from debt on your own. However, you might end up paying a lot of money along the way. With your financial condition still in debt settlement and the economy in the economic downturn, you cannot afford to spend an additional dollar without getting sufficient value for your money.

Obtain a free debt relief consultation. Anyone who has at least $10k in total personal debt (such as credit cards, unsecured loans, etc . ) can lastly have a free debt relief assessment without the “hard sell”. Upon Monday through Friday through 10: 30 a. Mireille. until 9: 30 l. m. and Saturdays through 10: 30 a. Mireille. to 5: 30 g. m. Eastern Standard Period, consumers can call the toll-free number and get linked to a debt relief professional that will help them gain control over costs collectors.

So to any extent further, when you find a syrupy provide, don’t blindly go after this. Use these two points to assess its authenticity. It can help you save a lot of money and embarrassment.

Marbella City Council says that its only interest is that Roca “repay its debt in the Fastest way”

Marbella City Council says that its only interest is that Roca “repay its debt in the Fastest way”

Roca saliendo del juzgado en régimen de autogobierno

 

The spokesman for the government team of Marbella (Malaga), Felix Romero, said Monday that the only interest of the City Council is that he was an advisor to Urbanism with the government of GIL and the main condemned by the case ‘Malaya’ against the corruption in the locality, Juan Antonio Roca, to whom the Court of Penitentiary Surveillance of the National Court has granted the third degree after more than eleven years in prison, “resarza” the debt he has with the Consistory.

To questions from journalists, Romero has indicated that “we are very interested in that the debt that the courts have already recognized that you have with the City is liquidated as quickly as possible and not be frustrated under any circumstances.”

According to the municipal spokesman, Roca “neither fully compensated Marbella nor sufficiently”, but recalled that the court proceedings affecting the principal sentenced in the case ‘Malaya’ have “economic amounts and goods locked with embargoes.”

 

“We knew that to compensate Marbella is neither easy nor immediate and we are still in a position to make effective these embargoes, in which there is a tangle of procedures, a central Administration that also wants to charge and all kinds of complications,” he said.

Romero has reiterated that the “purpose” of the City Council is “to give the battle while there is a good seized or a euro to collect”, pointing out that the Consistory has “a generic interest in justice being fulfilled with the whole world”. From there, he added, “we have no special interest in anyone being deprived of freedom.”

The spokesman has ensured that the legal representation of the City Council will study the “approaches that may arise from a court” to adopt the relevant legal measures based on “the purpose of the Consistory and that is not other than to reverse the largest number of funds” to the municipal coffers.

VOLUNTEER IN CARITAS

The Court of Penitentiary Surveillance of the National Court agreed to the progression to third degree of Roca, “in the modality of Article 86 TL”, which states that the departures must be regulated by the Treatment Board and in its fourth paragraph indicates that the inmates may be placed outside the center of social integration through telematic devices, which he must accept.

In this sense, the magistrate’s order, to which Europa Press has had access, indicates that the intern will reconcile professional and voluntary work, specifically at the Nuestra Señora de la Merced Center, which will allow “continuing the activity of the inmate. “

The judge considers that with this Roca “has taken a step further”, since “voluntarily and without any retribution has offered to collaborate” with this NGO.

From Cárita have indicated to Europa Press that “it will proceed with the same normality as with any volunteer because it is one more person who comes to collaborate”, plus there are other people in third grade who collaborate with the center, which has been running for many years .

The center is responsible for helping the reintegration of inmates and ex-prisoners, who are advised on aspects such as training, job search and social skills expansion, among others.

For the concession of this regime of semi-freedom, the magistrate has taken into account several factors, such as having a positive activity to pay the economic responsibilities to which he has been convicted, through the sale of goods; in addition to that the penitentiary behavior is “excellent”, participating in the Legal Aid commission of the Respect module, among others.

He has had eight permits and more than 24 departures of self-government, “all of them without any negative impact,” says the judge in a car, noting that, in addition, Roca has provided a job offer and has taken responsibility for their actions.

Check here more news of Málaga.

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Home Ownership Promotion: For every proper promotion

Plenty of money from the states for builders, home buyers, and renovators. With favorable development loans and grants, they can save many thousands of euros, provided they meet certain conditions.

Reichlich money there from the state for building owners, home buyers, and renovators. With favorable development loans and grants, they can save many thousands of euros, provided they meet certain conditions. Finanztest information on key programs.

Since November 2008, there is the Riester subsidy for homeowners. Anyone who has bought or his house or his apartment after 2007 built, will receive the same allowances and tax benefits as for a conventional Riester savings contract for the repayment of its loan.

Puts a homeowner annually at least 4 percent of its gross income, a maximum of 2,100 euros, in the repayment of its loan Riester, he will receive 154 euro basic allowance per year. There is also 185 euro allowance per child. For children who were born after 31 December 2007, the amount increased to 300 euros. The repayment of up to 2,100 euros a year can tax deduct as special expenses also.

Requirements for Riester subsidies are:
– homeowners who reside in the property,
– pay the loan no later than 68 years back,
– the loan agreement was certified by the Federal Office for Financial Services.

Of retirement age, the amounts funded must be taxed. As long as homeowners but not pay much higher interest rates for the Riester loans than for a conventional loan, they have a clear advantage: allowances, tax benefits, and interest savings through faster repayment have until retirement add up to more than 50,000 euros.

KfW loans for builders and buyers

Loans from the KfW development bank (are unbeatable favorable KfW ) in the program “Energy efficient building”. The development bank is financing the construction or purchase of an energy-saving building stretch with a loan of up to 50,000 euros. The effective interest rates for this lie partly below 3 percent.

With its Home Ownership Program, KfW promotes the construction or purchase of owner-occupied properties – regardless of energy efficiency and design. For this, it provides a loan up to 30 percent of total costs or a maximum of 100,000 euros.

Although the interest rates are not currently much cheaper than for an average bank loan. For this, some banks treat the KfW loan as equity of the mortgage lender. Slips by the financing sum less than 60 percent of the property value, the bank’s customers get the conventional loans for Berzins (Current Conditions see infographic).
Programs of the provinces, municipalities, and churches.

Almost all of them awarded loans or grants for home – but often only to families with children. The means for a year exhausted, new applicants, get nothing. For almost, all funding income limits apply.

Chances of promotion have countries but by no means only low earners. Localities also support families with children – for instance with construction grants or subsidized building sites. Churches provide land leasehold often with children discount available.

Loans for modernizers

KfW promotes its programs “renovate energy efficient” and “modernize housing” almost all measures for the rehabilitation and modernization of residential property. The better for the environment, the lower the interest rate calculated KfW.

Since April 1, improved funding conditions apply, especially in energy-saving measures in buildings. The maximum loan amount is now in the program “Energy efficient renovate” at 75,000 euros. The purchase of a newly renovated property is promoted.

There is also this loan the same for all residential buildings whose building application was made prior to 1995. Who wants to install in his own home solar panels, pellet or about heat pumps or can best inform the authorized energy adviser before restoration, it also receives grants from the Federal Office of Economics and Export Control (Bafa).

The tax benefit for monuments

Who renovated the property, which is a listed building or is in a redevelopment area, receives a high tax funding. For ten years the tax office recognizes both 9 percent of the remediation costs at as special expenses. The work may not begin until after the purchase is concluded.

Plan. Inquire early for funding. In general, you must follow the correct order: can approve funding until then build, buy or modernize. Those who start too early with the construction, purchase or modernization of his own home, gets nothing.

Combine. You can often combine several promotions. Example: You want to buy an old house and renovate. Then you can also borrow from the Home Ownership and modernization programs of the KfW beside Riester loans. Maybe we are still funding the federal state or the city.

Monuments. Enter the tax-funded renovation of your property as a special edition in your income tax return. For the tax benefit a number of rules to follow. Get help from a tax adviser.