Fitch says Spanish covered bonds unaffected by residual claims
LONDON | Fitch expects that the sector’s restructuring efforts fuel the higher level of consolidation seen since the reforms started last year.
banking sector
2013 profitable for Spanish banks
By Javier Niederleytners, professor at the Institute for Stock Exchange Studies IEB | Market pressure right now has relaxed over the country’s public debt and it seems to be a good moment to sell part of their bond holdings to cancel ECB loans.
Spanish banks cut again ECB loan addiction
The Spanish banks’ correction in February was 5.2 percentage points higher than the average in the eurozone.
Holders of Bankia preferred stock and subordinated debt: let’s breathe!
Spanish Minister of Economy Luis de Guindos gave some hope on Tuesday to the 80,000 Bankia customers stuck on preferred shares and subordinated debt: an arbitration process will be in place in those cases where there had been bad practice. Two other nationalized banks (Novagalicia Banco and Catalunya Banc) are using the same procedure so their clients will be able to get back at least 60% of their money.
The future of the Spanish banks
MADRID | By Carlos Díaz Guell | The Spanish bank’s bailout, added to the reforms and decisions made during the last years, can effectively complete the country’s banking puzzle and halt the worsening of a seemingly never ending crisis.
The Spanish banks under single European supervision
Over 80 percent of all Spanish deposit banking institutions–six of them systemic–will be inspected by the European Central Bank from 2014.
The Spanish banking system holds some €108bn liquidity surplus
The first 3-year injection auction in November 2011 allowed the Spanish banking to get cheap and long-term funds, which substantially varied its liquidity position. According to AFI analysts, it also limited risks associated with restrictions to renew and issue bank debt and to attract sufficient retail funds to offset the fall in wholesale funding.
Wall Street freeze thaws for some euro peripheral banks
Investors have responded with interest to some recent capital increase plans and debt sales from large Spanish banks. But it is too early in the year to infer an improvement in perceptions.
De-dramatising Spanish banking resolution
MADRID | Words containing the Latin suffix “tio” tend to raise passionate sentiments. Just think of “revolution” or even “Constitution”, a rather harmless expression nowadays that fuelled bloody rifts in the 19th century. Banking “resolution” is leading to similar high-pitched controversies. Not to mention “liquidation”, a reference readily subject to censorship as the Bank of Spain governor has recently discovered. The recommendation to ensure his full independence apparently will have to wait…
Spain badly needs a banking overhaul
MADRID | The conditions imposed on Spain upon access to rescue funds for its ailing financial system, point to the need to undertake a major overhaul both in banking supervision and restructuring. The Eurogroup urges a handover to the Bank of Spain of powers hitherto retained by the ministry of Economy. It also forces breakup and/or severe downsizing of troubled banks, plus a resolution scheme to transfer part of the burden…