Franco-Belgian bank Dexia is preparing for the separation and sale. According to the Belgian De Standaard, the decision was taken at the last late Monday night meeting of the Board of Directors. The decision was made after an alarming warnings, which were made in respect of bank rating agencies Fitch and Moody `s.
The Belgian newspaper De Standaard reported on Tuesday citing informed sources on the most probable fate of the Franco-Belgian bank Dexia, which even during the 2008 financial crisis, has received state aid amounting to € 6 billion in the bank now may be the first major financial institution in Europe, collapsed due to the current crisis with the sovereign debt.
It follows from the plan adopted, according to the newspaper, at a meeting of the Board of Directors, which began Monday evening and will last well into the night, to start from Dexia will be displayed all the new loans that the bank provided the French municipal authorities. To manage these credits will create a new French bank. In turn, the number of bank assets, such as asset management unit of Dexia Asset Management, a joint venture with Canada's RBC - RBC Dexia Investor Services - and, finally, the Turkish unit Denizbank, must be sold before the end of the year. It is reported that can sell and Dexia Bank Belgium - Belgian branch of the bank. As for the "bad" assets, such as Dexia Credit Local, Italian and Spanish unit Crediop Sabadell, then they will be combined into a "bad bank", which is reported to the source of De Standaard, receive government guarantees on the part of Belgium and France.
Just how serious the situation at the bank, which, as of June, had the Greek bond market is € 3,8 billion, and the risk of potential losses on these securities amounted to approximately € 4,8 billion, reported last week, ratings agency Fitch. On Monday its intention to review the bank's rating downward announced and agency Moody `s.
Indirectly, the information leading Belgian newspapers published in Dutch, Belgian Minister of Finance has confirmed Didier Reinders. On Monday, he discussed the issue with his counterpart, the Bank of France, Francois Baruanom. As the agency AFP, Mr Reinders on Tuesday confirmed its intention to help the bank in case of need.
The Belgian newspaper De Standaard reported on Tuesday citing informed sources on the most probable fate of the Franco-Belgian bank Dexia, which even during the 2008 financial crisis, has received state aid amounting to € 6 billion in the bank now may be the first major financial institution in Europe, collapsed due to the current crisis with the sovereign debt.
It follows from the plan adopted, according to the newspaper, at a meeting of the Board of Directors, which began Monday evening and will last well into the night, to start from Dexia will be displayed all the new loans that the bank provided the French municipal authorities. To manage these credits will create a new French bank. In turn, the number of bank assets, such as asset management unit of Dexia Asset Management, a joint venture with Canada's RBC - RBC Dexia Investor Services - and, finally, the Turkish unit Denizbank, must be sold before the end of the year. It is reported that can sell and Dexia Bank Belgium - Belgian branch of the bank. As for the "bad" assets, such as Dexia Credit Local, Italian and Spanish unit Crediop Sabadell, then they will be combined into a "bad bank", which is reported to the source of De Standaard, receive government guarantees on the part of Belgium and France.
Just how serious the situation at the bank, which, as of June, had the Greek bond market is € 3,8 billion, and the risk of potential losses on these securities amounted to approximately € 4,8 billion, reported last week, ratings agency Fitch. On Monday its intention to review the bank's rating downward announced and agency Moody `s.
Indirectly, the information leading Belgian newspapers published in Dutch, Belgian Minister of Finance has confirmed Didier Reinders. On Monday, he discussed the issue with his counterpart, the Bank of France, Francois Baruanom. As the agency AFP, Mr Reinders on Tuesday confirmed its intention to help the bank in case of need.
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