EBA stress test: Santander’s sovereign swaps exposure not disclosed

Banco de España chose not to report Santander’s sovereign derivatives exposure to the EBA because it was 'not material'


Grupo Santander has no derivatives exposure to sovereign counterparties – or so the European Banking Authority (EBA) stress tests reported in July.

But a senior figure at one large European debt office tells a different story. Santander has won some of the office's swaps business in the past and is a current counterparty, he says.

So why the discrepancy? The Banco de España, which submitted data for the stress tests on behalf of its banks, admits Santander has sovereign derivatives exposure, but

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options


Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here