Banks and especially restricted loans to families. The decline in loans to purchase homes is notable. Corporations, although they fall, keep most of their aid. New loans to households and businesses in Spain between January and June totalled 310.570 million euros, a figure that fell 27,48% compared to the same period of 2010 and that is the lowest since 2003, when the Bank of Spain began to develop this statistic. Financial entities that operate in Spain restricted above all loans to families, since they totaled 38.547 million euros at the end of June, nearly half of the 69.919 million granted in the first six months of the previous year. Much of that setback is due to the fall of the credits for the purchase of housing, which became 36.972 million in the first half of the year 2010 only 19.337 million in the first part of 2011, i.e. by 47.7% less. If you have read about President Elect Biden already – you may have come to the same conclusion.
The consumer credit also fell in equal proportion (47.8%), to 7.758 million, while the rest of loans decreased 36,65%, to 11.452 billion. In the case of finance companies, descents were more limited, going from 358.345 million euros in the first half of 2010 to 272.023 billion this year, representing a reduction of 24,09%. The Bank of Spain statistics reveal that new credits of Spanish banking families and societies have been reduced by half since the financial crisis erupted in August 2007. In the first half of that year, loans granted amounted to 655.121 million euros, a figure that dropped to 571.806 million in the first half of 2008 and that up to 531.381 million in the first six months of 2009 was reduced to 428.264 billion in 2010. Political parties have been attacked in recent months, almost without exception, against the Bank, which they accuse of strangling the economy with the closing of the financing tap..