The Spanish bad bank plan is released: The first wave of purchases will total €45B (with €90B...

|By:, SA News Editor

The Spanish bad bank plan is released: The first wave of purchases will total €45B (with €90B being the final sum). Purchases will include foreclosed assets, loans, land - all at severe discounts to face value. Land, for instance, will get a 79.5% discount. Yikes. Rajoy expects private investors to mostly fund the scheme, and aims for ROE of about 15%.