Spanish banks provide loan moratorium for flood-affected households and businesses

Spanish banks are providing a three-month loan moratorium for mortgage holders, the self-employed, and small businesses affected by recent floods in southeast Spain. This means they will not need to make monthly payments during this period. The floods have resulted in at least 217 deaths, with many people still missing. This disaster is considered the worst flooding in decades in Spain. Banks are working with the state-credit agency ICO to develop additional support measures for families and businesses impacted by the floods. Previous government actions included extending loan maturities and offering mortgage relief during the COVID-19 pandemic.