tiếp nối bài trước nha chị Nấm Soledad Bank Breakup The Bank of Portugal unveiled a 4.9 billion-euro ($6.6 billion) bailout over the weekend that will leave shareholders and junior bondholders with losses, while sparing senior creditors and unsecured depositors. Banco Espirito Santo, once the country’s largest lender by market value, will be split in two, with depositors and healthy assets joining the newly formed Novo Bank while bad loans and junior creditors stay with the old bank until it can be shut down. “To regulators in Frankfurt and Brussels, this must have seemed the safest way to isolate any residual and tail risks” related to the bank’s Angolan unit and loans to other parts of the Espirito Santo group, Citigroup Inc. analysts including Stefan Nedialkov wrote in an e-mailed report from London today. “The EU’s tough approach in the case of the BES resolution is likely to be the law of the land.” Banking Union The bank’s 750 million euros of 7.125 percent subordinated bonds fell 2 cents on the euro to 14.9 cents, to yield 52.3 percent, at 10:35 a.m. in Lisbon, according to data compiled by Bloomberg. Its senior, unsecured 4 percent notes rose 1.4 cents to 98.3 cents on the euro, to yield 4.43 percent. EU leaders vowed in 2012 to create a banking union within the euro zone so that taxpayers would no longer shoulder the burden of repairing banks for investors’ benefit. Five of the currency bloc’s 18 members required aid during the worst of the crisis, which was fueled by bouts of contagion between sovereign debt and banks. Banco Espirito Santo’s rescue takes place during the transition to the new oversight regime. The EU has tightened its rules on how banks can receive state aid, and the Frankfurt-based European Central Bank has begun its examinations. Later this year, the ECB will release its assessment of the balance sheets of the bloc’s largest banks before taking on its supervisory mantle. In 2016 a tougher set of bail-in rules will start for creditors of failing banks Nguồn bloomberg/news/2014-08-04/portugal-rescue-avoids-cyprus-style-pain-in-test-of-bank-rules.html
Posted on: Thu, 07 Aug 2014 03:39:36 +0000
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