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Do³±czy³: 11 Mar 2024
Posty: 1
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 Order' from Rajoy to Salgado at the request of Rato Franci |
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Rajoy is already preparing to be president. During the meetings she has had in her office in Genoa with the country's main bankers, they have reached a conclusion: the still economic vice president, Elena Salgado, has to convince Brussels that the 12,000 million that the Spanish banks have in convertible bonds can be computed as principal capital. As El Confidencial Digital has learned from financial sources, the order sent from Genoa to the acting Minister of Economy responds to the request of the bankers in the private meetings they have held these days with the future President of the Government . The banks consider that starting this commitment from the Brussels authorities would facilitate the country's recovery through the reactivation of credit for families and SMEs in the coming months. And time is running out: throughout this week the European Union will have to rule on this request from the Spanish banks. According to the sources consulted, Elena Salgado 's team has intensified contacts with the European Banking Authority in recent days .
The Spanish delegation defends that convertible bonds must count as capital of the highest quality, since being shares it makes perfect sense for them to be counted as 'core capital' . Furthermore, the economic vice president has taken this battle very seriously: she knows that she has a debt with the banks , after in the negotiations UK Mobile Number List on the European bank recapitalization, the Spanish systemic entities were harmed – compared to the German and French banks. -, forced to raise more than 20,000 million euros to meet the new capital requirements of the EU. If this request from the Spanish banks is granted, the entities' needs would be reduced practically by half. The five large Spanish banks ( Santander, BBVA, La Caixa, Popular and Bankia ) have around 12,000 million in convertible bonds, of which more than 60% correspond to the entity chaired by Emilio Botín.
Core capital' of 9% At the end of October, EU leaders reached an agreement in principle on the recapitalization of the banks, which must reach a 'core capital' of 9% after accounting for the entire debt portfolio at market price. Banks that do not reach this level will have to sell assets or raise capital. However, among the details that are not yet known is the question of whether Spanish banks will be able to count as principal capital the money raised through the issuance of bonds that are necessarily convertible into shares. Convertible bonds are debt issues in which the holder of these assets can exchange them for new shares of the entity at a fixed price.Those around him insist that he is not in that battle, that he is focused on matters related to Bankia , and that he is surprised to be constantly in the pools, when he considers that everyone knows that he is not in that matter. And even less so now, at such a sensitive time, after the departure of Olivas from the vice presidency of Bankia and the intervention of the Bank of Valencia .
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