The Spanish bank continued to cut its titles emissions with mortgage guarantee in 2024 until they were located at 22,200 million euros, 2.9% less than in 2023, when the emission volume was 22,850 million euros.
These are data collected by the Spanish Mortgage Association (AHE), which highlights that these emissions are produced in a context of “relative liquidity”, but in which the bank has already had to face the “complete” expiration of the operations of the operations of the operations of the Tltro-III program.
In addition, the association suggests that the decrease has occurred despite the fact that in 2024 the mortgage activity has shown a “strong reactivation.”
Of these emissions, three out of four have been of mortgage cards, although these operations have been “significantly” in recent years. Specifically, ID emissions have noted a 27% decrease throughout the last year, up to a historically low volume of 16,750 million euros.
“The introduction of the changes implemented in the regulations of guaranteed bonds under Royal Decree-Law 24/2021 has not resulted in an increase in these so far,” explains the AHE.
On the other hand, the mortgage assets were more dynamic in terms of comparing with the year 2023, when the emissions were void. This dynamism, however, was limited to the first part of the year when the emission volume amounted to 5,450 million euros. Since then there have been no new emissions.
As for the living balance of mortgage titles, and in line with new emissions, it has also shown a negative evolution in 2024 with a 4%decrease. In fact, except in 2020, all exercises since 2012 have maintained a descending trend.
However, the 2024 variation rate has meant a “moderation” with respect to the previous years. Thus, last year has concluded with a volume of 251,760 million euros. Within this balance, the mortgage cards suppose the bulk, with a volume of 185,590 million euros. In total, they have retreated 1.3% throughout the last year.
In the case of graduations with mortgage collateral, atony has been “more pronounced”, since they have decreased at a rate of 10.1%. In the last year, about 7.5 billion euros have been discharged, so that the amount in circulation has been 66,170 million euros.
Of the observed data, the AHE indicates that the amortizations have surpassed the new emissions in both segments of this liability, although this phenomenon has been much more marked in the case of the degrees.
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