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スペイン銀行とスペイン経済省は、破綻したBANKIA銀行の本質的な健全化を最終調整
El Banco de España y Economía ultiman un profundo saneamiento de Bankia
La operación se hará mediante el préstamo de miles de millones del Estado
El ‘decreto Guindos’ ampara la medida, que incluye cambios en la gestión
Madrid7 MAY 2012 - 01:27 CET1021
El Banco de España y el Ministerio de Economía ultiman un profundo
The Bank of Spain and Economy finalize a profound reorganization of Bankia
The operation is done by borrowing billions from the state
The 'decree Guindos' covers the measure, which includes changes in management
Barron Íñigo Madrid 7 MAY 2012 - 01:27 CET
The operation is done by borrowing billions from the state
The 'decree Guindos' covers the measure, which includes changes in management
Barron Íñigo Madrid 7 MAY 2012 - 01:27 CET
The Bank of Spain and the Ministry of Finance finalizing a plan to clean deep Bankia would include changes in management group chaired by Rodrigo Rato, according to financial sources. The movement will begin by implementing the Royal Decree of financial reform developed by the minister Luis de Guindos. This rule allows the injection of public money through convertible bonds, known in financial jargon as coconuts. This money must be paid by the entity to a market interest rate, around 8%. Both the Ministry of Economy and Bankia declined to comment.
In the last ten days, the Minister of Economy and the International Monetary Fund (IMF) have suggested that Bankia was pending a thorough and urgent plan to clean up its real estate assets. This operation could change the balance sheets of 2011. The fact that Deloitte does not submit the audit for that year last week, despite having finished the term, the market had alarmed.
Guindos and the IMF warned Bankia needs in recent days
Financial sources commented yesterday that Bankia and its parent Bank Savings Financial (BFA), which is the bank where they accumulate bad real estate assets, you may need between 5,000 and 10,000 million to clean the brick. The portfolio of delinquent real estate loans and foreclosed assets for nonpayment of loans amounted to 31,800 million. Delinquencies on the brick is 28%, although they have provisions for 8,300 million. Some experts suggest the model of Royal Bank of Scotland and Lloyd's, recovering from the crisis with the state as shareholder.
For ammunition, the Government announced in February that would strengthen the capital of the Bank Restructuring Fund (FROB) to 6,000 million more, to 15,000 million with a debt issue. This money is counted as debt, but not because the state deficit will supposedly gain from the operation, said in presenting the project economics.
The legislation allows the State to request assistance when there is a merger in which the assets grow 10%. Other sources claim that an entity would receive the money, and going solo. This money should be allocated to sanitation and the costs of office closures and redundancies. Unicaja has received this help from the state 850 million in the absorption of-Spain Caja Duero.
The market believes that the entity is key to clear doubts about the Spanish economy
In deciding a merger case, the possibilities are vast. The IMF said that there were some entities with an uncertain future. Economy pushes four: Liberbank, BMN, Unicaja and Ibercaja, to join urgently.
But the relief includes a viability plan that must be approved by the Bank of Spain and Economy, which includes changes of managers. Bankia will be no exception, say market sources. The IMF said literally it is "essential" that the entity of "larger" in difficulty "take swift and decisive action to strengthen its balance sheet and improve its management and corporate governance."
Among the major international managers and investment banks are convinced that if the entity headed by Rato does not face a strong sanitation will not go away doubts about the Spanish financial system and lower the risk premium. It is difficult, if not impossible, to go against a certainty installed in the markets and they believe that Bankia is the cap for the solution of the financial system.
In the last ten days, the Minister of Economy and the International Monetary Fund (IMF) have suggested that Bankia was pending a thorough and urgent plan to clean up its real estate assets. This operation could change the balance sheets of 2011. The fact that Deloitte does not submit the audit for that year last week, despite having finished the term, the market had alarmed.
Guindos and the IMF warned Bankia needs in recent days
Financial sources commented yesterday that Bankia and its parent Bank Savings Financial (BFA), which is the bank where they accumulate bad real estate assets, you may need between 5,000 and 10,000 million to clean the brick. The portfolio of delinquent real estate loans and foreclosed assets for nonpayment of loans amounted to 31,800 million. Delinquencies on the brick is 28%, although they have provisions for 8,300 million. Some experts suggest the model of Royal Bank of Scotland and Lloyd's, recovering from the crisis with the state as shareholder.
For ammunition, the Government announced in February that would strengthen the capital of the Bank Restructuring Fund (FROB) to 6,000 million more, to 15,000 million with a debt issue. This money is counted as debt, but not because the state deficit will supposedly gain from the operation, said in presenting the project economics.
The legislation allows the State to request assistance when there is a merger in which the assets grow 10%. Other sources claim that an entity would receive the money, and going solo. This money should be allocated to sanitation and the costs of office closures and redundancies. Unicaja has received this help from the state 850 million in the absorption of-Spain Caja Duero.
The market believes that the entity is key to clear doubts about the Spanish economy
In deciding a merger case, the possibilities are vast. The IMF said that there were some entities with an uncertain future. Economy pushes four: Liberbank, BMN, Unicaja and Ibercaja, to join urgently.
But the relief includes a viability plan that must be approved by the Bank of Spain and Economy, which includes changes of managers. Bankia will be no exception, say market sources. The IMF said literally it is "essential" that the entity of "larger" in difficulty "take swift and decisive action to strengthen its balance sheet and improve its management and corporate governance."
Among the major international managers and investment banks are convinced that if the entity headed by Rato does not face a strong sanitation will not go away doubts about the Spanish financial system and lower the risk premium. It is difficult, if not impossible, to go against a certainty installed in the markets and they believe that Bankia is the cap for the solution of the financial system.
スペイン銀行とスペイン経済省は、破綻したBANKIA銀行の本質的な健全化を最終調整
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