In terms of betas, the beta for deposits in Spain is 17.8%. If we exclude CIB, by the way this is three percentage points higher than in the first quarter. If we exclude CIB, the beta is 9.5%. The beta in CIB is around 60%. So I think I’ve given you all the numbers to figure out exactly how we see the betas and the NII going forward. Thanks.
Begona Morenes : Thank you Andrea. Can we have the next question, please?
Operator: Next question from Britta Schmidt from Autonomous. Please go ahead.
Britta Schmidt : Yeah, hi there. Thanks for taking my question. Could you give a bit more color on the NII increase, the absolute NII increase in Spain Q-on-Q? The customer spread was up less in the previous quarter, but NII was up a lot more? And then, secondly, you could also update us on the net interest income sensitivity in Brazil over one year and two years? And lastly on the €500 million rate benefits that you see more so than previously. Can you give us an idea as to where you see them and how much of that has been recognized in the current runrate? Thank you.
Hector Grisi: Okay. So let me go backwards here. Yeah, in the first half, the sensitivity was more or less €500 million higher than what we – the guidance we gave in – at the Investor Day. We would expect more or less a similar amount in the second half in Euros. So, we – relative to the figures, we gave at Investor Day, the interest rate sensitivity in Euros due to the fact that obviously rates are higher and we are seeing better betas remember that the betas we use to give that sensitivity at Investor Day in Euros were around 30%. We are below 20% right now and it’s already half of the year. So we would expect another €500 million more in the second half over €1 billion higher than what we mentioned at Investor Day. NII sensitivity in Brazil I’m going to give you the rest of the currencies, as well.
So if today, we had a 100 basis points parallel shift upwards, we would make €1.1 billion, €1.2 billion more in Euros. €250 million, more in the UK, flat slightly negative in the US and €100 million less in Brazil. I think we gave you all the details to understand the NII sensitivity in Spain, but we can take it offline and if you wanted, you know, more detail analysis, but I think we gave you all the details. I give you the composition of the balance sheet by repricing on the asset side. So I think that’s sufficient, I think, but we will take it, we will take it offline.
Begona Morenes : Thank you, Britta. Can we have the next question please?
Operator: The next question is from Carlos Cobo Catena from Societe Generale. Please go ahead.
Carlos Cobo Catena : Hi. Thank you very much for taking my questions. Just a quick follow up for NIM capital. You mentioned the finance impact, could you please quantify that in terms of stock and one single specific impact on risk-weighted assets just to clear that out from other impacts? Thank you.
Hector Grisi: Okay. So, the stock finance is seasonal. It tends to go up in December, which is the peak in the year, then it goes down in March, goes up a little bit in June and then same in September to peak again in the December. This year, the increase in June was higher than we expected. We are talking around €6 billion in total risk-weighted assets from stock financein the first half.
Begona Morenes : Thank you, Carlos. Can we have, what I believe is the last question please. [Operator Instructions] Thank you.
