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Second audit of Spanish banks on schedule: government
MADRID (Reuters) - A second and more detailed audit of Spanish banks will remain on schedule and release its findings on July 31, a spokesman for Spain's economy ministry said on Tuesday, denying an early report the assessment would be pushed back to September.
"There won't be any delay in completing the audit of Spain's banks," the spokesman said.
Earlier, a source at the Bank of Spain had told Reuters the second audit would be delayed to September to give organizers more time to gather information on each bank's loan books.
A first audit, detailing how much extra capital the entire banking system will require, is due to release its findings on Thursday (June 21).
Spain commissioned the independent assessments ahead of formally requesting a 100 billion euro bailout to its banks pledged by the euro zone.
But investors are becoming increasingly impatient about the terms and timing of a bailout, fearing Spain could be pushed to a wider sovereign rescue like Greece, Ireland and Portugal.
On Tuesday, the euro zone's fourth largest economy was forced to pay 5.07 percent to sell 12-month Treasury bills and 5.11 percent to sell 18-month paper - an increase of about 200 basis points on the last auction for the same maturities a month ago.
The first auditing of Spain's banking sector is being carried out by consultants Oliver Wyman and Roland Berger and could show the sector needs a clean-up of 60-70 billion euros of extra capital, according to sources.
The "Big Four" accounting firms KPMG, PwC, Deloitte and Ernst & Young are carrying out a complementary second assessment.
(Reporting by Jesús Aguado; Editing by Fiona Ortiz and Andrew Heavens)
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