Spain's New Bank Levy to Weigh on Three Largest Lenders -- Market Talk
U.S. Stocks anomaly | Banco Santander's pre-market drop exceeds 4%, Spain will raise banks' tax rate to a maximum of 7%.
Grace 11/22 | Spain's banco santander (SAN.US) fell 4.22% in pre-market trading. In terms of news, the Spanish government has raised the upper limit of the special tax rate imposed on banks. A spokesman for the Ministry of Finance stated that the fiscal plan passed by parliament on Thursday extended taxation on the country's banking industry and raised the highest tax rate to 7%. Reports indicate that the new rate will affect CaixaBank, banco santander, and Spanish foreign banks. (Grace)
Express News | Spain has introduced a new financial plan that raises the bank tax rate to a maximum of 7%.
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