This week, the Bank of Spain will also need to close the entry into the Bank’s capital NCG, entity that assumes the financial powers of Novacaixagalicia. For its part, BMN and Liberbank last week before the Bank of Spain presented a request for an extension to complete the recapitalization process. As stated in the Decree Law on strengthening the financial system approved last February, the entities that had made strides in firm to strengthen its capital had the possibility of doing so a few months later. In particular, three months in the case of the entry of private capital or six, in the case of listing. According to that legislation, although these two entities would have three months more to close their processes of recapitalisation (until December), market sources provided that such an extension will only be until October 31. However, that date will be known expected next Friday, September 30, day in which ends the period fixed by the supervisor to complete this capitalization process, the same sources added. Waiting for closing all the fringes of this recapitalization process, this Monday has just the term for which those entities that are stakeholders present before the agency that Miguel angel Fernandez Ordonez directs non-binding bids to take over Caja de Ahorros of Mediterraneo (CAM), which intervened last month of July.
According to financial sources, CaixBank will present an offer of interest in the auction of the CAM, which also possibly talented other entities such as Santander, BBVA or BBK and Kutxa Caja Vital, which currently is negotiating its union. Throughout this process, which will be closed this week, will conclude amid doubts that arise again the market about the solvency of some European institutions, among which are some Spanish. A solvency, however, that dndido have such entities and the own Bank of Spain. Source of the news: savings banks face their recapitalisation process to improve its solvency
