Speaking at yesterday’s Banking Lab, our Secretary General, Javier Rodríguez Pellitero, described the recent mortgage agreement, reached by the banking sector to help struggling families meet their mortgage payments amidst high inflation and rising interest rates, as “balanced.”
“Dialogue with the Government has facilitated an agreement that will assist clients experiencing temporary liquidity problems.”
In this regard, Rodríguez Pellitero emphasized that the agreement preserves the robustness and proper functioning of the Spanish mortgage market, which is crucial for social well-being and economic progress in Spain.
Not only has it facilitated access to homeownership for a large part of the Spanish population, but the mortgage market also serves as a source of funding for the banking sector through the issuance of mortgage-backed securities, a fundamental instrument for maintaining its capacity to grant credit to the economy and households.
Our Secretary General highlighted that the mortgage agreement allows the banking sector to provide reassurance to families and proactively address the risk of circumstances that might affect their payment capacity. He stressed that current delinquency rates remain contained.
“The banking sector always strives to help clients facing difficulties, especially during times of uncertainty like the present,” stated Rodríguez Pellitero, convinced that “it is always worthwhile to consider solutions to address future problems should they arise.”
The other participants in the dialogue panel concurred: José García Montalvo, Professor of Economics at Pompeu Fabra University; Carlos Pérez Montes, from the Financial Stability Department of the Bank of Spain; and Paloma Arnaiz, Secretary General of the AEV. Santiago Carbó, Professor of Economic Analysis at the University of Valencia, moderated the session, which was opened by the Vice President of CEOE, Íñigo Fernández de Mesa.
