http://www.creditwritedowns.com/2009/07/consumer-credit-down-a-massive-33-in-spain.html Finance, Economics and Markets Fri, 10 Feb 2012 00:37:00 +0000 hourly 1 http://www.creditwritedowns.com/2009/07/consumer-credit-down-a-massive-33-in-spain.html#comment-56672 Edward Harrison Thu, 02 Jul 2009 11:31:00 +0000 http://www.creditwritedowns.com/2009/07/consumer-credit-down-a-massive-33-in-spain.html#comment-56672 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-56671 elartistamadridista Thu, 02 Jul 2009 11:27:00 +0000 http://www.creditwritedowns.com/2009/07/consumer-credit-down-a-massive-33-in-spain.html#comment-56671 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 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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