4.9.12

είναι δυνατόν να έχασαν ολόκληρο eurogroup?


once in a blue moon αλλά ..έγινε

Eurogroup Statement Regarding Spanish Lender Bankia

The Eurogroup, the Eurozone’s finance ministers,
released the following statement late Friday with regard to the decision
by Spain’s bank restructuring agency, FROB, to complete the
restructuring of troubled lender Bankia by October as agreed and to
inject capital immediately to ensure the bank is compliant with minimum
regulatory standards:
“Today BFA-Bankia published its financial accounts as of 30 June
2012, pursuant to its obligations under the Spanish Securities Markets
Law. As expected, these published figures show continued financial
strain on BFA-Bankia. These figures confirm the importance of the
Financial Assistance of up to EUR 100 billion for the Recapitalisation
of Financial Institutions, which was agreed and entered into operation
in July, in providing a credible and readily available backstop for the
Spanish banking sector.
The Eurogroup welcomes today’s reiteration by the Spanish
authorities, and the statement by the Board of BFA-Bankia, of their firm
commitment to complete the restructuring plan for BFA-Bankia by October,
as foreseen by the Memorandum of Understanding. This will allow the
restructuring plan to be approved by the European Commission in November
for immediate entry into force and to be accompanied by the necessary
capital injection from the Programme.
The Eurogroup welcomes the intention of the FROB to proceed with a
bridge recapitalisation of BFA-Bankia with a view to making the group
compliant with minimum regulatory standards of capital adequacy, pending
the full recapitalisation and restructuring process which is ongoing
under the terms of the financial assistance programme.
Against this background, the Eurogroup recalls the approach of the
financial assistance programme, and its significant benefits which will
start to materialise very shortly:
— The financial assistance programme foresees the necessary
recapitalisation of all viable Spanish banks for which a capital
shortfall exists. The preliminary information released today for
BFA-Bankia suggests that BFA-Bankia will be a main beneficiary of this
programme and will be adequately recapitalised in line with the
identified capital shortfalls and its restructuring plan.
— BFA-Bankia’s balance sheet will, as those of all banks receiving
external support, be thoroughly cleaned up through the transfer of
impaired assets to an external asset management company.
— BFA-Bankia will be restructured in order to secure its long-term
viability and a full protection of deposits.
— Recapitalisation, the segregation of assets and the
restructuring of Bankia will restore the bank to financial health.
Solvency and long-term viability will secure the group’s continued
access to all necessary sources of external funding.
The Eurogroup also recalls that the programme provides for a
backstop in case of emergency to cover unexpected interventions
necessary to restore confidence.”

http://www.forexlive.com/blog/2012/08/31/eurogroup-statement-regarding-spanish-lender-bankia-text/

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