The same sources add that an agreement could already have been reached, if it wasn’t the crisis in Catalonia and the need for the Deposit Guarantee Fund (FGD) to be approved. Thus, BBVA received an asset protection scheme (EPA) for which the FGD undertook to cover "80% of the losses resulting from an assets portfolio of an amount of 7,359.7 million".
BBVA has in its balance a real estate exposure of €17,774 million, according to its latest figures. Of this, foreclosed assets (11,937 million) and doubtful loans (3,357 million) amount to 15,300 million. These loans and properties have a coverage of more than 61%. Therefore, BBVA could sell at 38% of the appraised value without having to charge losses against its result. Even so, it need the approval of the FGD.