Bbva | InvestmentWatch

Europe’s largest bank & 4th largest company in world Banco Santander downgraded close to junk:

http://www.theflyonthewall.com/permalinks/entry.php/DB;UBS;AEG;CS;RY;BCS;ING;LYG;RBS;SAN;BBVAid1657892/DB;UBS;AEG;CS;RY;BCS;ING;LYG;RBS;SAN;BBVA-Moodys-cuts-at-least–Spanish-Banks-long-term-ratings-to-junk

http://ca.reuters.com/article/businessNews/idCABRE85O1B120120625http://en.wikipedia.org/wiki/Santander_Group

WARNING: Moody’s is about to junk virtually the entire Spanish banking sector TODAY, The downgrade is expected to happen within hours

From Expansion (google translated)

“After cutting the rating of Baa3 and Spain to threaten to put Spanish debt at the level of junk bond no later than 30 days, has reviewed the notes of all banks. “We have reported a reduction of two or three notches (steps) to almost everyone. Do not look at individual financial statements of each entity. Do not discriminate, “added the sources.

And is that the sector is particularly annoying because [...]

REPORT: Fitch downgrades Spain’s Banco Santander and Banco Bilbao

Fitch credit ratings agency has downgraded Spain’s two largest international banks Banco Santander and Banco Bilbao Vizcaya Argentaria (BBVA) from A to triple B plus.

The international credit agency said on Monday that the downgrades were primarily because Spanish sovereign debt ratings had been downgraded to BBB- from A- on June 7 and also due to forecasts that Spain’s faltering economy would remain in recession throughout this year and also in [...]

Toxic deposit outflow spiral. Things in Spain just getting worse and worse

via ifre:

Spanish banks may need further long-term loans from the European Central Bank, according to bankers advising such firms, after clients withdrew deposits and some lost money investing in government bonds, leaving them without sufficient funds to pay back debt maturing this year.

Lenders in the country took the largest slice of the €1trn loaned out to banks under the ECB’s two three-year longer-term refinancing operations, and currently owe €317bn to the [...]

Here we see 2 ITA banks reported LTR0 participation at the end of Feb:

AT A GLANCE: European Banks’ Disclosure On LTRO Participation | 4-Traders

ITALY:

*Intesa Sanpaolo SpA (>> Intesa Sanpaolo SpA) took EUR24 billion, its CEO said.
*UBI Banca SpA (>> UBI Banca Scpa) took up about EUR6 billion, a person familiar with the matter said.

so, we’re looking at 30B of the 75B total going to 2 banks, possibly? and other banks notreporting due to bloodyStigmata? this was designed by mario4mario so this li’l can is kicked for 3 whole years! what “can” happen next is [...]

EU: Spanish revolt brews as national economic rearmament begins in Europe

Spain’s new prime minister has looked into the abyss and recoiled.

Though he swept into office as an apostle of orthodoxy, Mariano Rajoy has since delved into Madrid’s ghastly accounts and concluded that it would be “suicidal” to try to slash the budget deficit from 8pc of GDP to 4.4pc of GDP this year, as demanded by Europe’s fiscal Calvinists.

Such a policy would require a further €40bn or €50bn of cuts [...]

InvestmentWatch

Europe’s largest bank & 4th largest company in world Banco Santander downgraded close to junk:

WARNING: Moody’s is about to junk virtually the entire Spanish banking sector TODAY, The downgrade is expected to happen within hours

REPORT: Fitch downgrades Spain’s Banco Santander and Banco Bilbao

Toxic deposit outflow spiral. Things in Spain just getting worse and worse

Here we see 2 ITA banks reported LTR0 participation at the end of Feb:

EU: Spanish revolt brews as national economic rearmament begins in Europe

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