http://www.creditwritedowns.com/2009/07/consumer-credit-down-a-massive-33-in-spain.html Sat, 21 Nov 2009 08:48:41 -0700 http://wordpress.org/?v=2.8.6 hourly 1 http://www.creditwritedowns.com/2009/07/consumer-credit-down-a-massive-33-in-spain.html/comment-page-1#comment-5729 Edward Harrison Thu, 02 Jul 2009 10:31:41 +0000 http://www.creditwritedowns.com/2009/07/consumer-credit-down-a-massive-33-in-spain.html#comment-5729 Thank you for adding some color with your comments. I look forward to having more insight on Spanish banking and economic conditions there. Cheers. Edward Thank you for adding some color with your comments. I look forward to having more insight on Spanish banking and economic conditions there. Cheers. Edward

]]> http://www.creditwritedowns.com/2009/07/consumer-credit-down-a-massive-33-in-spain.html/comment-page-1#comment-5728 elartistamadridista Thu, 02 Jul 2009 10:27:16 +0000 http://www.creditwritedowns.com/2009/07/consumer-credit-down-a-massive-33-in-spain.html#comment-5728 Good translation. However, "Establecimientos Financieros de Crédito" doesn´t really mean "finantial institutions" as a whole,it is a specific sub-category of them (the translation could be literally correct, but this is a legal term).<br> They are "credit entities" but they aren´t banks (they can´t take deposits or funds in any capacity from the broad public). Their main activities include lending, factoring, leasing, credit cards, and others guarantee-related.<br> They are important on certain sectors/activities, but not really large in the spanish finantial system as a whole. They represent under 3% of the "credit entities" aggregate balance sheet, and under 5% of outstanding credit to the public.<br> Nice work, anyway Good translation. However, “Establecimientos Financieros de Crédito” doesn´t really mean “finantial institutions” as a whole,it is a specific sub-category of them (the translation could be literally correct, but this is a legal term).
They are “credit entities” but they aren´t banks (they can´t take deposits or funds in any capacity from the broad public). Their main activities include lending, factoring, leasing, credit cards, and others guarantee-related.
They are important on certain sectors/activities, but not really large in the spanish finantial system as a whole. They represent under 3% of the “credit entities” aggregate balance sheet, and under 5% of outstanding credit to the public.
Nice work, anyway

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