A Santander bank branch is seen in central Madrid, Spain, April 6, 2016. REUTERS/Juan Medina MADRID (Reuters) - The Spanish market watchdog on Thursday said it had opened proceedings against Santander (SAN.MC), BBVA (BBVA.MC), Sabadell (SABE.MC) and Caixabank (CABK.MC) for possible anti-competitive practices related to derivative contracts to cover the risk of syndicated loans. The probe stems from a complaint from renewable energy company Inversiones Empresariales Vapat, the regulator said. Reporting By Sonya Dowsett; Editing by Jesus Aguado
Spanish authorities have opened proceedings against banks , plc , plc and Caixabank over alleged anti - competitive practices regarding derivative contracts to cover the costs of syndicated loans ; the accusations stem from a complaint from renewable energy regulator Inversiones Empresariales plc .