スペイン国立銀行は、BFA/BANKIA銀行が破綻する6カ月前の2011年12月に、BANKIA銀行は支払い能力が十分だとの誤った(間違った)報告を提出していた!{なんといい加減な仕事をしているのか??スペインらしい!!}
El Banco de España concluyó en 2011 que Bankia tenía gran solvencia
La inspección de diciembre del año pasado situaba al grupo mejor que a Santander y BBVA
Francisco Mercado Madrid 19 NOV 2012 - 00:34 CET
The Bank of Spain concluded in 2011 that was highly solvent Bankia
Inspection of December last year the group stood better than Santander and BBVA
Francisco Mercado Madrid 19 NOV 2012 - 00:34 CET
Last May Rodrigo Rato resigned as president of the BFA-Bankia group and the Government intervened entity, a quarter of the country, with its huge financial difficulties resulting from a massive collapse of its real estate business. At that time, the Bank of Spain raised the nationalization of the company, "and that the events" in the weeks and "increased uncertainty about the future of the company" had made "wise to go further and raise the contribution of public resources to accelerate and improve sanitation. "
Paradoxically, in December 2011, six months before the collapse of banking giant, Bank of Spain built opined in a report to the summary of the case being investigated by the Court that the group had plenty BFA-Bankia solvency.
"The IPO of Bankia is the main cause of the dramatic improvement experienced by the group's solvency ratios BFA during the third quarter of 2011. The core capital ratio group (8.5%) to 30 September 2011 is in line with those with Banco Santander and Banco Popular. " "However," the report added, "caveat worth mentioning as an important part of meeting the thresholds in RD2/2011 decree to be subscribed by the FROB preferred contributing 228 basis points to the ratio mentioned".
"In terms of Tier I capital-higher quality-(10.81%) and Tier II (13.66%) the relative position of BFA [matrix Bankia] is even better because of the important contribution of other preferred and subordinated debt to total capital base of the group. Hence the possible redemption of these instruments by other higher quality is one of the arguments it uses BFA to meet the needs of recapitalization required by the EBA (European Banking Authority) ".
Better than others
The Bank of Spain shows a table shown BFA-Bankia above Santander, BBVA and Popular in solvency ratios. He concludes: "The group's solvency data BFA excess of those provided in the integration plan at that time. As shown in Table FROB, in the baseline scenario of the integration plan formulated in June 2010, was set as an estimate for the end of 2011 the main capital of 8.20%, 0.3% less than the actual ratio to September , 2011. The said excess is a result of funds raised in the public offering of shares (3,092,000) who have approached the principal sum total of the integration plan, despite the unfavorable market value of debt instruments (with losses of 880 million as of September 2011) ".
However, inspectors raised some clouds. "Despite the existing surplus funds, the monitoring team estimated doubtful repayment of funds provided by the FROB". In March 2012, the Bank of Spain was another very different picture: "The greatest threat of Bankia until December 2011 liquidity was due to inadequate financial structure. This problem has been deferred, not solved, thanks aa two recent auctions of European Central Bank and the renewal of the program supported by the State, two decisions exogenous to the entity. The issues guaranteed by the State BFA group added 60,000 million, almost 20% of the balance. About solvency, both BFA and Bankia start from a tight situation to meet the highest regulatory requirements to which they will have to face in 2012 (...) BFA Group declares a principal of 8.2%, which is only slightly higher than the 8% required although questionable and include various elements that are not deducted certain adjustments considered by the inspection. "
"In these conditions of departure", declared in the inspectors, "we understand that no doubt that BFA Group will be able to meet the regulatory requirements of EBA and the Royal Decree [banking consolidation]. The heavy adjustments BFA anticipated by the end of 2011, facing the highest coverage required by royal decree, and to a lesser extent, the unfavorable evolution of the income statement, are the root causes of sharp cuts experienced by capital principal in the last quarter. Both effects have absorbed much of the capital gain arising from the IPO and the effect of deleveraging. Thus, the core capital ratio stood at 7.6% at December 31, 2011, thus placing it beyond well below the ratio for the rest of the big Spanish banks would infringe the minimum threshold established by royal decree sanitation ". Just the opposite of the above analysis.
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