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欧州中央銀行は、銀行に貸し出す流動資金の担保条件を緩和して、返済不履行の可能性のある融資以外は、融資を拡大すると発表
El BCE amplía el rango de garantías para seguir financiando a la banca española
El instituto emisor flexibiliza sus criterios tras la rebaja a las calificaciones crediticias del sector
The ECB extends the range of guarantees to continue funding the Spanish banking
The central bank relaxes its criteria after the credit ratings downgrades in the sector
The Country Madrid 22 JUN 2012 - 17:39 CET
The central bank relaxes its criteria after the credit ratings downgrades in the sector
The Country Madrid 22 JUN 2012 - 17:39 CET
This Friday they have reached good news for Spanish banks from Frankfurt, where the headquarters of the European Central Bank (ECB), although it was not the magic solution to help overcome the crisis that has claimed the chorus in recent weeks the Government of Mariano Rajoy. Thus, if the chief executive yesterday called for the financial sector liquidity, the ECB has granted to further relax the safeguards necessary for entities to lend their money. However, re-enter the market to buy debt of the countries under pressure as also claims the president, nothing. The news, in any case has been well received by the Exchange, which has prompted the Spanish financial sector to strong gains.
According to the agency argues chaired by Mario Draghi, the reason for this decision is "to improve banking sector access to Eurosystem operations to better support the provision of credit for households and businesses." Therefore, from now accept practically all the credit that is not in default or at risk of defaulting in return for lending their money. Thanks to this policy of the ECB, including loans that are already guaranteed in the coffers of the Central Bank at its headquarters in Frankfurt lies the Real Madrid asked to sign Cristiano Ronaldo and Kaka.
So if so far accepted mortgage-backed securities with a grade of A, the equivalent of a remarkably high, now low the bar and also support the housing backed loans that have a rating of BBB, considered as goods dry. The entity applies a cut of 32% value of these bonds.
more informationBankia will use the loan signing of Cristiano Ronaldo to ask the ECB liquidityCapital flight leads to the Spanish banks to ask the ECB record numbersThe ECB makes it easier for eurozone banks to borrow more money
Efe recalls Commerzbank analyst Michael Schubert, Spanish banks have on their balance sheets large amount of these bonds, so the decision should help finance while still blocked access to the interbank market. In fact, before the close of the market by distrust hanging over the whole sector and the entire state institutions have become addicted to the liquidity of the ECB, which has become their only means of access to money.
However, the measure is also conditioned by the recent lowering of grades has been Spanish banks, a snip it has responded to the devaluation of the credit rating of the whole country. In this sense, if the ECB had not decided to extend the margin to lend their money would be left in serious difficulties for a number of Spanish banks.
Along with the mortgage credit for families, the ECB also will accept as collateral in its refinancing operations a wider range of bonds backed by consumer loans, such as those signed for the purchase of a car and loans to SMEs . This type of guarantees with minimum grade of A will apply a cut of value 16%. Meanwhile if BBB, the cut will be 26%. This section also support bonds and mortgages securitized leasing of commercial properties with this qualification.
With this measure, the ECB gives further support to the bank to ensure that credit goes to families. To do this, also launched the open bar watered liquidity to the sector with a billion euros in cheap loans to three years. Although it is clear that this money has actually reached the real economy rather than remain in the hands of banks to cover its maturing debt.
According to the agency argues chaired by Mario Draghi, the reason for this decision is "to improve banking sector access to Eurosystem operations to better support the provision of credit for households and businesses." Therefore, from now accept practically all the credit that is not in default or at risk of defaulting in return for lending their money. Thanks to this policy of the ECB, including loans that are already guaranteed in the coffers of the Central Bank at its headquarters in Frankfurt lies the Real Madrid asked to sign Cristiano Ronaldo and Kaka.
So if so far accepted mortgage-backed securities with a grade of A, the equivalent of a remarkably high, now low the bar and also support the housing backed loans that have a rating of BBB, considered as goods dry. The entity applies a cut of 32% value of these bonds.
more informationBankia will use the loan signing of Cristiano Ronaldo to ask the ECB liquidityCapital flight leads to the Spanish banks to ask the ECB record numbersThe ECB makes it easier for eurozone banks to borrow more money
Efe recalls Commerzbank analyst Michael Schubert, Spanish banks have on their balance sheets large amount of these bonds, so the decision should help finance while still blocked access to the interbank market. In fact, before the close of the market by distrust hanging over the whole sector and the entire state institutions have become addicted to the liquidity of the ECB, which has become their only means of access to money.
However, the measure is also conditioned by the recent lowering of grades has been Spanish banks, a snip it has responded to the devaluation of the credit rating of the whole country. In this sense, if the ECB had not decided to extend the margin to lend their money would be left in serious difficulties for a number of Spanish banks.
Along with the mortgage credit for families, the ECB also will accept as collateral in its refinancing operations a wider range of bonds backed by consumer loans, such as those signed for the purchase of a car and loans to SMEs . This type of guarantees with minimum grade of A will apply a cut of value 16%. Meanwhile if BBB, the cut will be 26%. This section also support bonds and mortgages securitized leasing of commercial properties with this qualification.
With this measure, the ECB gives further support to the bank to ensure that credit goes to families. To do this, also launched the open bar watered liquidity to the sector with a billion euros in cheap loans to three years. Although it is clear that this money has actually reached the real economy rather than remain in the hands of banks to cover its maturing debt.
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