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スペインの経済省は、銀行の隠された不良債権を精査するために、5つの監査会社と契約
Economía elegirá tres auditoras más para analizar la morosidad oculta de la banca
Las consultoras Oliver Wyman y Roland Berger evaluarán previamente el sistema financiero
Economy elect three auditors to analyze more hidden bad debts of banks
Oliver Wyman consultants Roland Berger and previously assessed the financial system
Miguel Jimenez Madrid 21 MAY 2012 - 00:09 CET
Oliver Wyman consultants Roland Berger and previously assessed the financial system
Miguel Jimenez Madrid 21 MAY 2012 - 00:09 CET
In the end there will be two, as he said the economy minister, Luis de Guindos but five firms "independent" review the Spanish financial system health. The credibility of the bank, and with it that of Spain, will be left to a small group of consultants and auditors. The Bank of Spain and the Ministry of Economy has selected U.S. consultancy Oliver Wyman and Roland Berger Germany to make a first assessment of the portfolios of banks. But also, Economy announced that between this week and next will hire three audit firms. Its mission is to analyze the hidden default of the bank.
In advance of his report on the Spanish financial sector, the International Monetary Fund warned of the possible hidden delinquency. Economy softened the message in the Spanish translation of the report, but noted. Yesterday announced that three companies will hire auditors to "conduct a field study on the quality of procedures for recognition and provisioning for doubtful accounts in the Spanish banking groups."
Some financial institutions have preferred to make artificial refinancing to avoid recognizing the default. In some cases mergers have been found delinquent loan portfolios without giving. These problems are to be quantified auditors appointed by the Economy and the Bank of Spain, a work whose result will be announced in the coming months.
Earlier in the second half of June, we will know the outcome of the general assessment without field work, conducted Roland Berger and Oliver Wyman on the Spanish financial sector balance sheets. This overall assessment will include a stress test, that is, the resilience to adverse economic scenario.
These two firms usually work for banks, especially Oliver Wyman, which provides services to several companies in Spain. At the height of the controversy over the payment in kind for mortgages, issued a report highly critical of that possibility and favorable to the views of banking. The Bank of Spain and Economy have understood that there is no conflict of interest for providing services to banks and that it was possible to find a reputable international firm that did not have as a client to the bank.
Economy reserves the primacy on the Bank of Spain, as to coordinate the project has created an advisory committee chaired by the Secretary of State for Economy, Fernando Jiménez Latorre, and vice president will the Deputy Governor of the Bank of Spain.
Oliver Wyman and Roland Berger have a small number of experts in the financial sector in Spain. Between the two do not add up or the number of supervisors that the Bank of Spain has one of the major entities. But the work performed hastily in little over a month will largely depend on the international credibility of the health of the Spanish financial system.
The Spanish bank has been constantly under the supervision of the Bank of Spain, who believes that economics has lost its prestige. In addition, subjected twice to the endurance of the European Banking Authority. These tests, conducted over several months, were widely criticized, but the truth is that it has survived as an independent entity none of the eight Spanish that suspended (Cajasur, Unnim, Banking Civic CatalunyaCaixa, Caja Duero Spain, Banco Pastor , CAM and Box3) and have been nationalized two others approved by the hair (Bankia and Novacaixagalicia). In addition, the International Monetary Fund has just further testing of resistance to the bench, as revealed a few weeks ago, had been adopted by most of the sector and had been suspended only three entities in the auction process, five and two absorbed and banks still independent, of which one was the BFA-Bankia group.
Oliver Wyman and Roland Berger were chosen from five finalists. Blackrock was left out by their conflicts of interest. Another finalist was discarded and the fifth McKinsey, Boston Consulting Group, according to some sources, although it was not possible to achieve an official confirmation.
Roland Berger is part of the German group of the same name and is leading a project to create a European rating agency that is a real alternative to the oligopoly of S & P, Moody's and Fitch. Entered Spain in 1985 with the purchase of Spanish Bedaux firm. Oliver Wyman is part of Marsh & McLennan U.S.. It was purchased by Mercer in 2003 and is the result of the merger of several consultants.
With the process intended, according to Economics, "increase transparency and definitely clear doubts about the valuation of bank assets in Spain."
Instead, Secretary for Economy and Employment of the PSOE, Inmaculada Rodríguez-Piñero, believes that "it is irresponsible of the Government, because discredited official institutions" and "surrender the keys to our financial sector to two private companies." In his opinion, the government "should have gone to institutional auditors and the Bank of Spain, supported by the European Banking Authority."
In advance of his report on the Spanish financial sector, the International Monetary Fund warned of the possible hidden delinquency. Economy softened the message in the Spanish translation of the report, but noted. Yesterday announced that three companies will hire auditors to "conduct a field study on the quality of procedures for recognition and provisioning for doubtful accounts in the Spanish banking groups."
Some financial institutions have preferred to make artificial refinancing to avoid recognizing the default. In some cases mergers have been found delinquent loan portfolios without giving. These problems are to be quantified auditors appointed by the Economy and the Bank of Spain, a work whose result will be announced in the coming months.
Earlier in the second half of June, we will know the outcome of the general assessment without field work, conducted Roland Berger and Oliver Wyman on the Spanish financial sector balance sheets. This overall assessment will include a stress test, that is, the resilience to adverse economic scenario.
These two firms usually work for banks, especially Oliver Wyman, which provides services to several companies in Spain. At the height of the controversy over the payment in kind for mortgages, issued a report highly critical of that possibility and favorable to the views of banking. The Bank of Spain and Economy have understood that there is no conflict of interest for providing services to banks and that it was possible to find a reputable international firm that did not have as a client to the bank.
Economy reserves the primacy on the Bank of Spain, as to coordinate the project has created an advisory committee chaired by the Secretary of State for Economy, Fernando Jiménez Latorre, and vice president will the Deputy Governor of the Bank of Spain.
Oliver Wyman and Roland Berger have a small number of experts in the financial sector in Spain. Between the two do not add up or the number of supervisors that the Bank of Spain has one of the major entities. But the work performed hastily in little over a month will largely depend on the international credibility of the health of the Spanish financial system.
The Spanish bank has been constantly under the supervision of the Bank of Spain, who believes that economics has lost its prestige. In addition, subjected twice to the endurance of the European Banking Authority. These tests, conducted over several months, were widely criticized, but the truth is that it has survived as an independent entity none of the eight Spanish that suspended (Cajasur, Unnim, Banking Civic CatalunyaCaixa, Caja Duero Spain, Banco Pastor , CAM and Box3) and have been nationalized two others approved by the hair (Bankia and Novacaixagalicia). In addition, the International Monetary Fund has just further testing of resistance to the bench, as revealed a few weeks ago, had been adopted by most of the sector and had been suspended only three entities in the auction process, five and two absorbed and banks still independent, of which one was the BFA-Bankia group.
Oliver Wyman and Roland Berger were chosen from five finalists. Blackrock was left out by their conflicts of interest. Another finalist was discarded and the fifth McKinsey, Boston Consulting Group, according to some sources, although it was not possible to achieve an official confirmation.
Roland Berger is part of the German group of the same name and is leading a project to create a European rating agency that is a real alternative to the oligopoly of S & P, Moody's and Fitch. Entered Spain in 1985 with the purchase of Spanish Bedaux firm. Oliver Wyman is part of Marsh & McLennan U.S.. It was purchased by Mercer in 2003 and is the result of the merger of several consultants.
With the process intended, according to Economics, "increase transparency and definitely clear doubts about the valuation of bank assets in Spain."
Instead, Secretary for Economy and Employment of the PSOE, Inmaculada Rodríguez-Piñero, believes that "it is irresponsible of the Government, because discredited official institutions" and "surrender the keys to our financial sector to two private companies." In his opinion, the government "should have gone to institutional auditors and the Bank of Spain, supported by the European Banking Authority."
スペインの経済省は、銀行の隠された不良債権を精査するために、5つの監査会社と契約
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