Spanish banks to present restructuring plans to european commission till October

YEREVAN, July 21. /ARKA/. Banks of Spain with lack of capital will have to present plans for banking improvement to European Commission and Spanish authorities by early October, according to the  conditions for financial aid to Spain’s banks illustrated in the memorandum on mutual understanding, Prime agency reports.

Currently, the ongoing independent stress tests should define the lack of capital at some particular banks. This audit may come to end in mid-September, according to the memorandum.
“Spanish authorities and European Commission will assess viability of banks following the results of the stress tests and plans of restructuring,” the document states.

Restructuring plans for the troubled banks  such as  Bankia,  Catalunya Caixa, NCG Banco и Banco de Valencia,  should be approved by the European Commission not later than November. And the plans for restructuring banks which are not in trouble must be approved by the European Commission not later than the year’s out. —0–

spot_img

POPULAR

Fitch Ratings affirmed Armenia’s rating at ‘BB-‘, maintaining a positive outlook

International rating agency Fitch Ratings has affirmed Armenia's long-term foreign and local currency Issuer Default Ratings (IDRs) at 'BB-' with a Positive Outlook.

A young couple created a “honey planet” in Garni

Three years ago, young spouses Narek Sargsyan and Ruzanna Danielyan created their own "honey planet" in Garni—Bee Planet.

Strong banks’ capital and liquidity positions mitigate risks to Armenia’s financial stability – Fitch

Risks to financial stability in Armenia are mitigated by banks' strong capital and liquidity positions, according to the international ratings agency Fitch Ratings.

Armenia has benefited from capital transit, but its origins pose reputational risks – Tavadyan

The report of the Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) on Armenia documented the country's progress in developing its anti-money laundering and counter-terrorist financing systems, but identified insufficient effectiveness in investigations, prosecutions, and confiscation of criminal assets, as well as the need for stronger oversight in several economic sectors.

Fitch forecasts inflation in Armenia at 4.4% in 2026, subsequently declining to 3%

The international rating agency Fitch Ratings expects inflation in Armenia to average 4.4% in 2026, after which it will gradually return to its target level of 3%.

LATEST NEWS

spot_imgspot_imgspot_img