By GABRIELE STEINHAUSER Much investor attention this summer has focused on whether the European Central Bank will soon start buying Spanish bonds in an attempt to stop the government's borrowing costs from escalating to unaffordable levels. But another critical exercise is under way that could well be just as important to Spain's financial survival. Between now and mid-September, a team of private auditors is rummaging through the books of the 14 largest Spanish banks to determine how much of a loan of up to €100 billion ($122 billion) from the euro-zone bailout fund they will need to rebuild their severely eroded capital bases. Each lender's needs will depend on how much they are...
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