The Sumar political group filed a complaint this Friday before the National Court so that the Bank of Spain provide information, bank by bank, on the public money transferred to them as interest for the deposit of their reserves in 2022 and 2023.
Add a complaint to the Bank of Spain
Likewise, Sumar has already filed a request for a report to Congress to know this data, but the former governor of the Bank of Spain, Pablo Hernández de Cos, has affirmed that this data is confidential and held by the European Central Bank (ECB), which is why Sumar finally decided to appeal to the National Court.
Sumar’s economic spokesman in Congress, Carlos Martín, said: “We have been forced to denounce the Bank of Spain before the National Court for lack of transparency. “They do not want to tell us how much money they pay from bank to bank for the deposits they make in the Bank of Spain itself.”
8 billion in profits
As Sumar calculated, thanks to these deposits, the banks have thus earned 8 billion euros in 2023, which represented 65% of its profits in Spain. This led, the group claims, to the Bank of Spain, now headed by José Luis Escriva, being registered losses in its income statement, which were offset by provisions.
Similarly, Sumar argues that the income of 2 billion The amount that the Bank of Spain usually makes each year to the Treasury, from its profits, has been reduced to zero, which translates into “a significant reduction in the possibilities of financing public policies.”
“We understand that this goes against the interests of citizens, it prevents an adequate design of budgetary policy,” he assured. Carlos Martinwho also requested that the extraordinary tax on the banking sector be extended across the general state budgets for 2025.
