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スペインの318億0000'0000ユーロの負債(不良債権)を抱えるBANKIA銀行は、一部国有化を提唱
El nuevo gestor de Bankia propone la nacionalización parcial del banco
El plan de Goirigolzarri supondría la conversión de los 4.464 millones del FROB en capital
Bankia pasará a estar controlada por el Estado y el Gobierno evita el uso de más dinero público
El FROB, dependiente del Banco de España, controlará el 56% de Bankia
The new manager Bankia proposes the partial nationalization of the bank
The plan would Goirigolzarri the conversion of the 4.464 million of capital FROB
Bankia will be controlled by the State and the Government avoids the use of more public money
The FROB, under the Bank of Spain, will control 56% of Bankia
What about savers Bankia? the keys
Barron Íñigo Madrid 9 MAY 2012 - 16:15 CET
The plan would Goirigolzarri the conversion of the 4.464 million of capital FROB
Bankia will be controlled by the State and the Government avoids the use of more public money
The FROB, under the Bank of Spain, will control 56% of Bankia
What about savers Bankia? the keys
Barron Íñigo Madrid 9 MAY 2012 - 16:15 CET
The new president and Bankia, Jose Ignacio Goirigolzarri, propose to the board of directors of the group entry state in the capital of the parent of the entity, Finance and Savings Bank (BFA), as reported in financial sources. The operation is done through the conversion of the help of 4.464 million euros that the entity received the first Bank Restructuring Fund (FROB) in shares, which the State will control both BFA and Bankia itself, the fourth largest in the country with more than 10 million customers and 340,000 million in assets.
BFA is 100% owned by Caja Madrid, Bancaja and five savings banks that took part in the merger. This entity, which currently is the largest shareholder of Bankia with 45.3% of its capital, is the bank where they accumulate bad real estate assets of the group and, according to plans managed by the Bank of Spain and the Government could need between 7,000 and 10,000 million to clean the brick. After conversion of the FROB aid, the agency, under the Bank of Spain, will control 56% of Bankia.
After conversion of the FROB aid, the agency, under the Bank of Spain, will control 56% of Bankia
The proposed Goirigolzarri, whose appointment as replacement for Rodrigo Rato has been ratified today by the board of directors will be voted Bankia and also this evening by the BFA, you must first gain the support of the directors in these two meetings. From there, the group must notify the Frob, which must approve it in turn report to Brussels to get it going.
The partial nationalization of Bankia, if carried out, will expand to four financial institutions and state wards that have been audited or because the state has taken control of most of your capital: Banco de Valencia, and CatalunyaBanc Novagaliciacaixa. All of them are in the process of adjudication.
The entry of the state in BFA you the freedom the new president to appoint a new board than the current one, in which politicians and union representatives are the majority. In addition, the option to convert the help of the FROB in the state capital and move to take control of Bankia bad bank avoids having to put more public money to clean up the entity.
The relay de Rato, a forced departure from the government and the implementation of the recovery plan Bankia has accelerated in recent days after the refusal of the auditors sign the accounts of 2011 that placed the capital of BFA in 3,500 million. The rejection of Deloitte, who had spent several years overseeing the group's results was due to the finding of a significant gap between what he said was worth BFA and its real situation. This capital deficit should be covered as soon as possible to keep running.
more informationWhat about savers Bankia?Bankia loses 700 million of its stock market value after three days of sharp declinesRajoy's government force the resignation of Rato BankiaThe Bank of Spain and Economy finalize a profound reorganization of BankiaThe key change in Bankia
With its approach to give input to the state capital of BFA, Goirigolzarri Deloitte's thesis assumes that the matrix has a capital Bankia lower than stated in their accounts and urges fill this hole, which will feature 4,464 million FROB.
From the standpoint of the State, the credit conversion into shares of the fund is a capital computed as public debt also may end up counting to calculate the deficit if, at the end of the year, the Administration has not recovered its money. This point could weigh further the efforts of the Executive to reduce the deficit with an environment of recession and rise in unemployment. With this operation, on his side, Bankia not have to continue paying interest of 7.75% paying for the help.
The new president has to carry out sanitation to all government support, as reiterated yesterday the Ministry of the Economy through the statement in which he gave a message of reassurance to customers about the solvency of Bankia. Although oficalmente Goirigolzarri was proposed by Rato, former CEO of BBVA has been from the beginning the option preferred by the Executive to take control of an entity that is blocking the exit strategy from the crisis for the whole country.
Another twist for the sector
Opening the focus, the restructuring of the sector as a whole will live another key episode on Friday, the day for which the prime minister, Mariano Rajoy, has announced a new decree to give another twist in order to conclude the restructuring of the financial system Spanish. In this second reform, the Executive will raise provisions that require institutions to ensure their viability rose yesterday as the leader of the PP and, moreover, probably will start a real estate company.
The Government's decision, a move forced by the growing distrust of the Spanish financial sector, to review the restructuring marks a further step back in the promises of the Executive. The minister, Luis de Guindos, still defended on 21 April that there would be no public money for banks sanease its property assets and that neither would launch a bad bank or similar entity to do so. "Let me be clear and transparent. Institutions will have to adjust the valuation of real estate assets on balance sheets. And in that process there will be no public support, "said the minister from Washington.
BFA is 100% owned by Caja Madrid, Bancaja and five savings banks that took part in the merger. This entity, which currently is the largest shareholder of Bankia with 45.3% of its capital, is the bank where they accumulate bad real estate assets of the group and, according to plans managed by the Bank of Spain and the Government could need between 7,000 and 10,000 million to clean the brick. After conversion of the FROB aid, the agency, under the Bank of Spain, will control 56% of Bankia.
After conversion of the FROB aid, the agency, under the Bank of Spain, will control 56% of Bankia
The proposed Goirigolzarri, whose appointment as replacement for Rodrigo Rato has been ratified today by the board of directors will be voted Bankia and also this evening by the BFA, you must first gain the support of the directors in these two meetings. From there, the group must notify the Frob, which must approve it in turn report to Brussels to get it going.
The partial nationalization of Bankia, if carried out, will expand to four financial institutions and state wards that have been audited or because the state has taken control of most of your capital: Banco de Valencia, and CatalunyaBanc Novagaliciacaixa. All of them are in the process of adjudication.
The entry of the state in BFA you the freedom the new president to appoint a new board than the current one, in which politicians and union representatives are the majority. In addition, the option to convert the help of the FROB in the state capital and move to take control of Bankia bad bank avoids having to put more public money to clean up the entity.
The relay de Rato, a forced departure from the government and the implementation of the recovery plan Bankia has accelerated in recent days after the refusal of the auditors sign the accounts of 2011 that placed the capital of BFA in 3,500 million. The rejection of Deloitte, who had spent several years overseeing the group's results was due to the finding of a significant gap between what he said was worth BFA and its real situation. This capital deficit should be covered as soon as possible to keep running.
more informationWhat about savers Bankia?Bankia loses 700 million of its stock market value after three days of sharp declinesRajoy's government force the resignation of Rato BankiaThe Bank of Spain and Economy finalize a profound reorganization of BankiaThe key change in Bankia
With its approach to give input to the state capital of BFA, Goirigolzarri Deloitte's thesis assumes that the matrix has a capital Bankia lower than stated in their accounts and urges fill this hole, which will feature 4,464 million FROB.
From the standpoint of the State, the credit conversion into shares of the fund is a capital computed as public debt also may end up counting to calculate the deficit if, at the end of the year, the Administration has not recovered its money. This point could weigh further the efforts of the Executive to reduce the deficit with an environment of recession and rise in unemployment. With this operation, on his side, Bankia not have to continue paying interest of 7.75% paying for the help.
The new president has to carry out sanitation to all government support, as reiterated yesterday the Ministry of the Economy through the statement in which he gave a message of reassurance to customers about the solvency of Bankia. Although oficalmente Goirigolzarri was proposed by Rato, former CEO of BBVA has been from the beginning the option preferred by the Executive to take control of an entity that is blocking the exit strategy from the crisis for the whole country.
Another twist for the sector
Opening the focus, the restructuring of the sector as a whole will live another key episode on Friday, the day for which the prime minister, Mariano Rajoy, has announced a new decree to give another twist in order to conclude the restructuring of the financial system Spanish. In this second reform, the Executive will raise provisions that require institutions to ensure their viability rose yesterday as the leader of the PP and, moreover, probably will start a real estate company.
The Government's decision, a move forced by the growing distrust of the Spanish financial sector, to review the restructuring marks a further step back in the promises of the Executive. The minister, Luis de Guindos, still defended on 21 April that there would be no public money for banks sanease its property assets and that neither would launch a bad bank or similar entity to do so. "Let me be clear and transparent. Institutions will have to adjust the valuation of real estate assets on balance sheets. And in that process there will be no public support, "said the minister from Washington.
スペインの35億0000'0000ユーロの負債を抱えるBANKIA銀行は、一部国有化を提唱
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