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Bank of Spain: The Banco de España takes stock of the financial system recapitalisation process envisaged under RD-l 2/2011

( October 3, 2011, 09:23 GMT | Official Statement) -- MLex Summary: The Spanish central bank has said the financial recapitalisation process, which obliges all financial institutions to have a core capital of at least eight percent of risk-weighted assets,  was completed with 7.5 billion euros being contributed by the FROB, (Fund for the Orderly Restructuring of the Banking Sector) and the raising of private capital totalling 5.84 billion euros. Thirteen institutions needed to increase their core capital, which they have done by a number of means including raising capital on the stock market, seeking out private investors, being nationalised (read related content here) or merging.The following is the text of a statement from the Bank of Spain. Click the attachment at bottom for the slides of a presentation on the recapitalisation....

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