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Moody's: Spanish banks well-placed for synthetic SME deals

Moody's suggested May 5 that Spanish banks could increasetheir use of synthetic securitization of loans when they want to strengthencapital buffers, rather than merely as a tool to increase liquidity.

Banks in the country are favorably placed to bolster theirregulatory capital ratios via synthetic securitizations of loans to small andmedium-sized firms, said Gaston Wieder, a vice president at Moody's, observingthat Spain is the largest SME securitization market in Europe, originating afourth of all SME deals by volume.

The agency noted that Banco Santander SA and recently launched twosynthetic securitization deals covering €4.3 billion of SME loans.