Under new requirements by the European Banking Authority, Spanish banks need to find another €26 billion in capital by next June with Santander having to raise an extra €15 billion.
Amounts to be raised:
Santander €14.970 billion
BBVA €7.087 billion
Banco Popular €2.362 billion
Bankia €1.140 billion
La Caixa €602 million
Perhaps one of the directors will do the right thing and forego his weekly bonus.