A spokesperson for Bank of Spain reiterated that Spanish banks do not need more recapitalisation than was established in the Financial System Reform Plan that was approved in February and is being realised on schedule, as reported by El Pais. This affirmation was made after yesterday's Financial Times report that 16 European entities need to recapitalise. Among them were seven Spanish banks: Banco Popular, Bankinter, Caixa Galicia, BFA-Bankia, Banca Cívica, Caixa Ontinyent, Banco Sabadell. This morning, Expansion reported that Banco Sabadell, Banco Popular, and Bankinter ruled out the need for capital.
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