BBVA Nears €2 Billion Risk Transfer to Hedge AI-Linked Lending

BBVA, Spain's largest bank, is close to completing a significant risk transfer (SRT) deal tied to roughly €2 billion ($2.3 billion) of infrastructure loans, in a move to hedge its rapidly expanding exposure to AI-related lending such as data centers. According to Bloomberg, which reported on June 23, 2026, more than a third of the reference portfolio consists of digital infrastructure, or AI-related, financing. The deal is private, and final terms remain subject to investor discussions (Bloomberg).