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

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 consume