Ground clauses: reports rectified to the claimant by bank 2015

The statistics shows the percentage of rectifications on favorable reports to the claimant of soil clauses by the Bank of Spain in 2015, by bank. In that year, there was a subgroup of entities that rectified the reports in percentages above 70% of the cases: CaixaBank, Catalunya Banc, Banco Popular Español and Bankia.

Percentage of rectifications on favorable reports to the claimant of ground clauses by the Bank of Spain in 2015, by bank

Characteristic	Percentage of rectifications on favorable reports
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Release date

2016

More information

Region

Spain

Survey time period

2015

Supplementary notes

Mortgage loan contracts with interest rate cap constraints (known as floor clauses) establish a minimum interest rate that the client will have to pay, regardless of what the reference interest rate in the mortgage market falls, usually the Euribor. Home These clauses were triggered by the low interest rates set by the European Central Bank in order to combat the crisis with an expansive monetary policy. Due to the mortgage floor, many borrowers have not been able to benefit from lower interest rates and have considered such clauses as abusive. Home The functions of the Claims Service of the Bank of Spain are assumed by the Department of Market Conduct and Claims.

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Spanish

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