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financial system Delinquencies rose to 5.61 in August 2010

Late payment of loans granted by banks, savings banks, cooperatives and credit institutions (SCIs) to individuals and companies stood at 5.61% in August, representing an increase of 0 , 14 points on the July rate (5.47%) and 0.67 points on the August 2009 level (4.94%), according to the Bank of Spain.

Credits questionable hit in August EUR 102,502,000, representing an increase of more than 2,000 million euros compared with July and more than 11,600 million compared to August 2009. So far this year, the sector's debt ratio has fallen only twice, in March and June, and remains at record levels since February 1996.

For entities credit financial institutions placed their lives in 10.13%, followed by savings (5.69%), banks (5.37%) and credit cooperatives (4, 22%).

Excluding the EFC, which have been delinquent tracicionalmente very high, the ratio system stood at 5.51%. Copy

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Interest delay - CIRB

operations are known as asset to all those who are counted as such in the balance sheets of financial institutions, ie all those assume the existence of a credit to favor of the entity. On the other hand are passive operations which involve an obligation on the part of the entity, and correspondingly a credit to the client, hence the capture exprersión liability, which refers to the quest for institutions clients who entrust their savings.

Our law does not regulate in general, or limit the interest rate banks can charge our , safety or financial institution to grant a loan or credit, as we have seen are known as asset-operations, so that is something that is framed within the general principle of freedom pacts, Civil Code Article 1255. Such interest is reflected in the deed of loan or private contract and is binding on the signatories.

As market transparency requirement is mandatory for entities in whose office a bulletin board in which, among other things, publish the interest rates that apply to their preferred customers, and the most common of all other operations, consumer mortgages. The result of applying the rules of transparency allows us to know the usual conditions of the entity and if we offer are in line with those usually granted to most customers, this allows us to make a decision based on knowledge market and, of course, compare offers from several different entities. Provided that this is the most common, then we apply to us as a business problem that affects the transparency.

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Another requirement of transparency of this market is required to include the APR in contracts, which is imposed by the Article 6 of the Consumer Credit Act , the APR we explicit the total cost credit expressed as a percentage of credit extended. They are also the source of this obligation the Order of Transparency of Financial Terms of the Mortgage Loans May 5, 1994, the Installment Sales Law of Personal Property, 28/1998, and his own Order 8 / 90 Transparency Operations and customer protection.

Freedom of covenants in the setting interest rate has some exceptions , the first of these is set out in Article 19 of the Consumer Credit Act , which limits to 2.5 times the legal interest rate of interest that can charged for the credit granted in the form of overdrafts, bearing in mind that the legal interest rate is now 4%, the interest rate for overdrafts is limited to 10%-to-day date, but only and exclusively for overdrafts, not the other active operations.

The other place is the old limit Enforcement Law of Usury of July 23, 1908, which states in its first article the invalidity of any loan agreement that provides for a substantially higher than normal interest money. As we can see does not provide an exact threshold, but rather refers to market conditions and the particular case. As we have seen financial institutions have a transparent, you can refer anyone to simply go to a branch and are consistent with the market for obvious reasons of commercial logic. By this we mean that rarely find that a transaction of a financial institution to qualify as usurious by the courts, may be more or less expensive according to the guarantees provided by the borrower and the commercial design of the operation itself, we refer to the so-called fast-credits, but can not be considered usurious.

found more examples of Loans considered usurious in what's euphemistically called "private equity" that they are lenders of all life clarify that our law does not establish a reserve for lending institutions financial. When an operation is ruled out by the entities to use, which often have similar risk criteria, there are people motivated by the need or despair turn to moneylenders who charge more logically in the financial institutions, and it is high-risk operations that rejects the bench, and therein lies the problem and the limit, there are simply more expensive-something which has the overwhelming logic of the market, much more expensive, also abound manifestly abusing situations of absolute necessity. In my practice I have seen many scripts that mask certain interests obviously abusive, 50 or 60% annually, indicating that capital is supplied is greater than that actually provided for in this way circumvent the sanction of invalidity established by Law mentioned Azcárate in the previous paragraph.

rate The highest financial institutions is the default , usually at around 30% annually, and is settled law that recognizes that there is a usurious interest rate, and that due to a contractual penalty for breach of the duty, a penalty clause that compensates for the breach of an obligation.

The interest rate that we charged in active operations, different types of loans and credits will vary from one another in terms of payment guarantees that the entity has - besides the price of money ", we always find the types low-collateral operations 's own good guarantees repayment of the loan with the holder of the such as mortgage, which is the best chance of return, and then go up to the higher rates that are charged on credit cards. In the middle are the personal loans and consumer finance, usually somewhat lower which have some form of collateral on the property financed, such as vehicle financing, which is an added guarantee of the reservation consistent domain financed vehicle. Copying

Francisco López

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usury. Files citizens credit positions

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Luhmann HAVE THE CHAMBA!! JUDGES PRAISE

is playing now-again-"Month emmerdes" Aznavour, and evokes Luhmann my memory ... (it is not uncommon, at least not for me, I am not in favor of English associationism of Locke, but ... so goes ps! to hell with Locke ... follow ...)

When I went to bed, night of revelation Luhmianna work, having gone to the Chinese restaurant - Chinese restaurant that shit I used to go, when 8 or 10 soles did not spend the coins in my pocket and my brother tells me to make a mita-mita had put the song on my MP3 that:

... the question is that we did not eat that day "alone" was a * friend, a friend who works as an official. -If there is the word in its full context, in the government. There is a big job, nor earn a silver egg, but had something relevant to his job, which put him in the same latitude structural (if it fits here Luhmann) because he had exactly the same type of employment allowed back in the late 50's to Luhmann immerse themselves in all kinds of books such as Hegel's Phenomenology [...] to the books of Confucius, "so to speak, for years after developing the theory of the Company System advocated.

That same night we ate the last wings in oyster, not crossed my mind to make mention of Niklas Luhmanm, and that he (my friend) for now, he the same function (if fit Luhmann here again?) that the sociologist had to and many years prior to his departure to USA, to become a student at Parsons, I mean when still, was a Bogart only ... the rest of history is known.

The point is that according to report that, Luhmann I take all that infinite time loitering in public administration to read the "99993847587398579853" classics of philosophy and sociology ... and more to the point that came to sign, "at the height of administrative zanganería functionally most striking references to each work, is therefore well known the" File of Luhmann "which surpasses the million Dating collected, deposited all these in a small cabinet of bibliographic files.

Aznavour To relate, I return a little of life before the fame of Luhmann, he had fallen as a prisoner of the allies World War II, for Luhmann the fact that since 17 years had been recruited by the Luftwaffe, is an event that marked his life, later confessed Luhmann way of theorizing and states that, that was an act of arbitrariness and arrogance against respect for individuality and self-determination Luhmann .... as a person complains, rightly, that this grim fact, have prevented performed like a normal teenager in the cycle (17 years). Hence perhaps the origins of what he understands in his system as "expectation."

A NO SHIT? AS OF TALKING AZNAVOUR WHEN sang the song "Mo EMMERDES" ... So, I remember him and while Luhmann. (It is no longer something empirical, such as John Locke would have preferred ...)... SI Luhmann would have had to make a book, telling his biography, since there is no None of them, had begun maso less so, although the end does not end very TRIZTAN or the song or life aznavour Luhmann unreported.

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* [t is good there, so he had to say, I hope you do something like Luhmann, and thanks for the info "Jahrbucher "...] Jhering