Spain’s banks may have begun to get the Greek treatment. When Athens’ lenders began to use too much of the European Central Bank’s conventional liquidity support measures earlier this year, the ECB moved to shift some of the risk onto the Bank of Greece’s and the government’s own balance sheet. Something similar looks to be afoot in Spain. As of the end of July, Spanish banks were borrowing 410 billion euros from the ECB, according to the Bank of Spain. That’s the most ever. But as significant was what happened to the section of the Spanish central bank’s balance sheet that usually denotes so-called “emergency ... (full story)