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Wednesday, March 9, 2011

Spain banks intimidate Expropriation

Wednesday, March 9, 2011
The government on the other hand, known as cajas savings banks and shares are not traded in exchanges, this time, held out until March to prepare the exportation of its shares.
The new law, banks' safes, is seen as risky assets equal to at least 10 percent of the future requires that a capital. This ratio at the level of 8 per cent earlier. Based capital ratios of banks, is being considered as an indicator of financial strength.
Spain's cabinet on Friday also approved new laws to tighten the financial sector, housing loans are paid back from the brink of collapse because of the banking sector to revive in the name of saving is regarded as a new step.
BACKGROUND attract investors Savings banks and commercial banks, trying to survive among a series of financial reform, led by Caja Madrid, a new banking group, will take housing loans not paid back their announced intention to set up a new bank. Officials of these banks also said they intend to withdraw their shares more attractive to investors.
Caja Madrid, Bancaja and its shares are not traded in the stock market of the other five savings bank, Banco Financiero y de Ahorros (BFA), members of the newly established bank, savings banks, to be seen as less risky stocks, he noted.
Barcelona-based savings bank La Caixa large, three weeks ago, the provision for housing loans not paid back confiscated assets with shares of construction companies and housing sector will want to build a new unit, intended to raise the value of assets traded in this way Caixa'nın said.
Spain's socialist Prime Minister José Luis Rodríguez Zapatero, to increase the reliability of this year, his country's bond market, saving the work of banking system restructuring has increased this year.
The number of Savings banks, mergers and the economic suffering of some of the passing of state control, reduced from 45 to 17

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