(Reuters) – Spanish Banco Popular SA will issue securities convertible into own shares for an amount of 750 million euros, against a background of pressure by the ECB for European banks increase their mattresses solvency.
In order to reinforce the face to face future crisis, the ECB, who took November 4 main tasks European banking supervisor – is suing the banks commit more funds to strengthen their capital base even if successfully overcome, such as People, recent stress tests.
Less than a week in the presentation of results of the bank, its president Angel Ron made an advocacy group solvency levels and denied receiving requests from the ECB to strengthen these parameters.
“We met over any of the minimum levels required to banks and we are not asking ourselves any strengthening of capital much to offer us the chance to do it with immediacy market,” he said Ron.
The bank president said the policy of the entity complied with the recommendations of caution issued by the ECB on dividends and capital and noted the intention of the company gradually move towards the payment of a dividend cash.
In his note to the Spanish stock market regulator said Wednesday Popular prompting you eventually convertible securities issued perpetual-values into shares are admitted as Tier 1 additional (Additional Tier 1).
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