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Europe's Largest Bank Stock Suspended, Admits Need For $8.9 Billion Capital Raise
All is clearly not well below the surface. Europe's largest bank (by market value) has admitted in a regulatory filing that it needs to raise capital. As WSJ reports, Banco Santander SA said it would raise up to €7.5 billion ($8.88 billion) in a capital hike, a bid to address long-running concerns among investors and analysts that its financial cushion was weaker than peers. European banking stocks are up over 2% today as Italian banks surge
limit up (BMPS +13%) on speculation that they will be purchased by Santander (who 'pumpers' believe are raising this capital to go on a spending spree) and 'old' Draghi headlines.
Santander, the largest bank in the eurozone by market value, said in a regulatory filing on Thursday that it would raise the capital through an accelerated book build.
The Spanish stock market regulator suspended trading in the bank’s shares ahead of the announcement.
Santander said in its most recent quarterly earnings presentation that its capital ratio under the latest regulatory requirements, known as “fully-loaded” Basel III criteria, would be around 8.5% to 8.6% of risk-weighted assets, below its European peers and a source of concern for some analysts and investors.
The move is the latest by Ana Botín, who took over as the bank’s executive chairman in September after the death of her father, longtime chairman Emilio Botín.
* * *
Santander closed EU6.85 before regulators suspended it...
- *SANTANDER SHARE SALE PRICE GUIDANCE EU6.18 TO EU6.50: TERMS
- *SANTANDER SHARE SALE PRICING DATE JAN. 9; TRADE DATE JAN. 12
Oops!!
* * *
- *SANTANDER SEES STRUCTURAL GROWTH OPPORTUNITY: BOTIN
And that means speculation... and Italian banks take off...
Admittedly Draghi "Old" headlines about sovereign QE hit around the same time. More fun-durr-mentals.
And the Santander crushed the specs dreams...
- *SANTANDER HAS NO PLANS FOR ACQUISITIONS, BOTIN SAYS
- *SANTANDER SEES `HUGE OPPORTUNITY INTERNALLY,' BOTIN SAYS
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10 things the media won’t be talking about after the Paris terror attack
WHOA!!! Holy shit!
This is going to crush the """market""" now!
Cause here's our new "Lehman Moment" folks!
8.9 bilion...
Pffft, chump change!
It's only the tip of the ice berg you mook!
Can you say "bank runs"?
Go ahead and try it... baaaaaank ruuuuuuns
It doesn't need capital, it just wanted a cushion like it's peers.
Like Kim Kardashian's friend when looking at her gigantic caboose. That's all. It's just this "cushion" costs $8.9 billion.
pods
Santander is fucking evil. Fuck those fucking motherfuckers. When I was getting sued by a TBTF, I was in contact with a bunch of other people who were in a similar situation. One guy was in law school to become a consumer attorney because of his encounters with Santander. He wound up in situations where they were unlawfully repossesing his shit because of their fuck ups and came near to the point of having to use lethal violence with the repo guys. Fuck those motherfuckers.
A good friend of mine had similar problems with BMO in Canada.
They took over abbey national in the UK before the take over abbey national were widely known as scabby national due to their abject uselessness. Both in the banking world and with joe public.
Another Cramer pump & dump fav.
Any insight on BBVA?
www.getoutofdebtfree.org
seems to work with a bit of paperwork, santander seeem pretty popular on there amoung the uk folk
Yeah right .
Just like the retards who said Lehman was safe just before they imploded.
This is where it starts to unravel again.
But this time there's not enough QE to stop it all from imploding into the abyss.
Enjoy the show!
there's alwyas 'enough qe'.
money is almost free to print. the question is WHO IS IN POWER TO PRINT IT AND WHO GETS IT AND WHEN.
the power dynamic means money isn't free for every bank when that bank needs it. the games of power determine the dynamics of failure and rescue.
'lack' of money isn't the issue. it's 'lack' of willpower by those IN power to give it at the appropriate time from the perspective of the one asking for a bailout.
Do we actually have our first banker who is going to jail?
Arrested RBS forex trader named as Paul Nash: sources
your right about that bro. those un-recap'd banks kyle bass was talking about- well, here we go again.
so we should expect gold to get hammered right about now
These Santander clowns now have a branch in just about every town here in the Northeast. Looks like they're positioning for an American bailout.
Catholic League's Donohue: cartoonists got what was coming to them!
http://tinyurl.com/lkjqgt3
Recapitalize by sending US deposits to Spain and then have US division file for bankruptcy. FDIC insurance to depositors. Easy-peasy.
I know what you're thinking. This can't happen because there are rules. Well Corzine wasn't supposed to transfer deposits to another entity and the other entity wasn't supposed to accept the transfer without a signature stating the transfer was NOT deposits. But said funds were transferred and never returned.
Come on, "another entity?" This isn't Voldemort: you can say "JPM's uglier, less-responsible stepchild in London."
anytime i see the word "terror" used in an article, i get skeptical of the source of information.
the word is a tool, used for a purpose.
It's strange. I see this bank popping up all over NJ. Only just in the last year. Something does not add up here. 2+2=5
Here's the math:
If you're in the US Federal Reserve System, get bailout.
I did not say "bankrun".
I bet the term "ringfenced" enters the 2015 lexicon again.
They love them fancy words in Europe. So stylish.
pods
WAIT!!!!! Raise rates first!!!
No problem:
http://failedevolution.blogspot.gr/2014/09/the-emperor-spoken-again.html
You mean the largest EU bank that passed the stress test just on Oct 26, 2014 has failed.....How could that be possible if the test were not fudged? Which indicates they were fudged...ok...now I am confused...
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/11186674...
but wait, that was the first stress test. you clearly didnt read the 37'th revision. in small print under article 23423 section 5745 in small print, this was discussed in detail.
Hey. I need to access capital. What should I do? I know. Let me issue shares!
Sorry, market is closed for you.
A bit like BOA buying Countrywide or JPM buying Indymac, must have the same shrewd $500K a year analysts
The ECB has got this. It's all good guys. God ZH people just need to take a chill pill and relax....the last 5 years have shown they got everythign under control. Might as well get rid of this site. Nothing matters anymore, inlcuding this minor hiccup.
Nothing Else Matters - https://www.youtube.com/watch?v=tAGnKpE4NCI
Well we know where Draghi wants to throw his magical money. The question is how many other banks are in the same shape but won't admit it...yet?
I'm partial to the Housing Stock on Santander's Books. s/c
The problem with "Europe" is that there is no possibility for hope of anything ever getting better - and the people know it. Europe's leaders need to be honest with themselves and prepare for 20-30 years of escalating deflation, bankrutcy, debt repudiation, contract abrogation, etc. etc. etc.
The public is already hip to the fact that things are set to get worse and worse and worse and worse - basically forever (20 years may as well be "forever) - so the political leadership may as well face up to reality.
...."Europe's leaders need to be honest with themselves and prepare for 20-30 years of escalating deflation, bankrutcy, debt repudiation, contract abrogation, etc. etc. etc." ....
Europe's leaders need to GO !
europe is a continent. yet it is refered to as a country or some unified territory. did they really expect such a diverse population to live under the same roof and break bread?
Might I suggest those "leaders" prepare for retribution as well. there will be no progress without it.
In the event that the ECB drags it's feet a little fear not, the USSA taxpyer backed "mostly" IMF will step in and fix it right up!
It's easy to toss out billions, trillions when it is not yours and will never be your problem.
obviously they didn't place employees at the appropriate regulatory and government positions. You got to love Goldman and JPM...well till the wheels come off...which is happening
OT
One of the funniest things I've seen in awhile was a video of Alan Dershowitz defending himself against the allegations that he had sex with one of Epstein's sex slaves. Funny how? Behind him was a painting of a big-bottomed naked woman. I can't find the video anywhere now, but here's a still shot:
http://www.businessinsider.my/how-alan-dershowitz-got-involved-in-jeffre...
What a nightmare to have sex with that thing, never mind do it when I am underage. Even his hands look horrifying, never mind other body parts.
It would need to be pay or force.
British Royals, moneyed interests, Jews (yes, I said Jews) and deviate behavior.
Same as it ever was.
I know that this sick shit has gone on all throughout history, but it does seem to be prevalent among the ueber wealthy moneyed interests.
That and Mexicans.
pods
Jeffrey Epstein, Prince Andrew, Bill Clinton, Alan Dershowitz.....quite an All Star crew right there. Haha...
There are times when a bullet to the brain is the right answer. If these alegations are true, just line them up on their knees with their hands secured behind their backs and let the girl have the gun if she wants it, if not, let her watch if she wants to. These creatures are monsters.
EEEEWWWWWW
Dow 20,000.
Nothing to see here. It is a software entry. They didn't want to tell anyone that's all.
Can someone tell me when an entity IS bankrupt? I seem to see stories like this and "think" they are bankrupt and I turn out to be wrong.
TBTB.
This is the simplest fix ever from an accounting perspective (and for those of you that understand debits and credits)
Debit Credit
Customer Deposits 8,900,000,0000
Capital Surplus 8,900,000,000
There, fixed. Thank god for accountants and bail-ins.
Who is Jon Corzine?
I'll take "Top Advisor to Mr. Yellen" for $500, Ms.
But chrome dome Yellen needs more printing to manage the debt enabled universal currency war.
/sarc
lol
The UN and Brussels buildings will resemble Buzludzha by only a few diminutive years away.
Forget Your Past
Enjoy..
10yr > 2% yet? didn't think so
7 year is the magic wand to report housing recovery. There’s no free lunch in this world.
http://research.stlouisfed.org/fred2/series/DGS7
"
Santander, the largest bank in the eurozone by market value, said in a regulatory filing on Thursday that it would raise the capital through an accelerated book build.
The Spanish stock market regulator suspended trading in the bank’s shares ahead of the announcement.
Santander said in its most recent quarterly earnings presentation that its capital ratio under the latest regulatory requirements, known as “fully-loaded” Basel III criteria, would be around 8.5% to 8.6% of risk-weighted assets, below its European peers and a source of concern for some analysts and investors. "
No. Not severely undercapitalized. They have a huge pile of Greek and Spanish and Italian Bonds collateralizing their positions.
They aren't broke; just want 8 or 10Billion so that they can go shopping for even better capitalized Banks and more high yield perifery Bonds.
Ignore any talk of suspended trading or share pricing or Greek debt or derivatives exposure...
The former Chairman's little girl is running the Bank now and he taught her everything he knew about risk and usury!
But other than that, everything's so bright we gotta wear shades!
ECB is on menopause, all shipments of Amberen have been sanctioned until further notice. /Sarc.
Regulatory Consistency Assessment Programme (RCAP) -Assessment of Basel III regulations – European Union
S T D, not for me....no thank you. I wouldn't want anyone's STD anywhere near me.
Pigbonds.info
http://pigbonds.info/
2,5,10 STD rate.
My pop had a very rich friend once who told him about how he once moved out of a bank because the terms they were willing to offer him seemed to generous. Sure enough the bank went belly up.
Last year Santander was offering $20/month credit if you switched direct deposit to them. "what kind of bank is offering such an unusual incentive," I thought. "A capital impaired bank."
Most people could use some new towels.
Spotted Banco Santander's problems years ago...
http://www.globaldeflationnews.com/expect-to-hear-the-word-unexpected-al...
Let me guess.
Santander passed the recent ECB Stress tests as well.
Not worth the paper they're written on
I'm guessing Santander has the most foreclosed houses on its books that it will be forced to sell in 2015.