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Results: 1-10 of 14

Bank of Spain rescues Caja de Ahorros y Monte de Piedad de Córdoba

  • Alston & Bird LLP
  • -
  • Spain
  • -
  • May 24 2010

On Friday, the Executive Commission of the Bank of Spain appointed the Fund for Orderly Bank Restructuring (FROB) as interim administrator of Roman Catholic Church-controlled savings bank Caja de Ahorros y Monte de Piedad de Córdoba (CajaSur

Caja Madrid and Bancaja announce initial agreement to merger

  • Alston & Bird LLP
  • -
  • Spain
  • -
  • June 14 2010

On Thursday, Caja de Ahorros y Monte de Piedad de Madrid (Caja Madrid), Spain's third largest financial institution announced that it had reached an initial merger agreement with Caja de Ahorros de Valencia, Castellón y Alicante (Bancaja

European Commission extends bank support measures in Spain and Portugal

  • Alston & Bird LLP
  • -
  • European Union, Portugal, Spain
  • -
  • July 24 2010

Earlier today, the European Commission announced the extension of its authorization of the Portuguese bank guarantee and bank recapitalization measures, as well as the Spanish recapitalization measures, until December 31, 2010

Four Spanish savings banks announce plans to merge

  • Alston & Bird LLP
  • -
  • Spain
  • -
  • May 25 2010

Today, Caja Mediterraneo, Grupo Cajastur, Caja Caja Extremadura and Cantabria (the Banks) announced (English translation) their intention to merge

Spanish savings bank merger discussions continue

  • Alston & Bird LLP
  • -
  • Spain
  • -
  • June 1 2010

On Friday, Spain's two largest Cajas, or savings banks, Caja de Ahorros y Monte de Piedad de Madrid (Caja Madrid) and Caja de Ahorros y Pensiones de Barcelona (La Caixa), announced separate plans to combine with some of the country's weakest savings institutions

European Commission approves Spanish recapitalization scheme for credit institutions

  • Alston & Bird LLP
  • -
  • European Union, Spain
  • -
  • January 29 2010

On Thursday, the European Commission (EC) approved a Spanish scheme "for banks aimed at enhancing the strength and solvency of credit institutions so that they are able to provide credit normally and that confidence in the national financial system can be maintained."

Spanish FROB approves CajaSur restructuring plan

  • Alston & Bird LLP
  • -
  • Spain
  • -
  • July 20 2010

Late last week, the Governing Committee of the Fund for Orderly Bank Restructuring (FROB) met to discuss the restructuring of Caja de Ahorros y Monte de Piedad de Cordoba (CajaSur

U.S. representatives send letter opposing any IMF bailout of Spain

  • Alston & Bird LLP
  • -
  • Global, Spain, USA
  • -
  • May 6 2010

Yesterday, amid concerns about the Greek financial crisis spreading to other European states, U.S. Congressman Mike Pence (R-IN), Chairman of the House Republican Conference, and Conference Vice-Chair Cathy McMorris Rodgers (R-WA), sent a letter to Vice-President Joe Biden, who is travelling to Spain and Belgium to meet with European leaders on security issues, urging the Vice President to "make it clear that the U.S. will oppose" any request from Spain for a bailout from the International Monetary Fund (IMF), and that the U.S., as the IMF's leading contributor, will "do all in its power" to "reject putting American money further at risk."

Bank of Spain releases details of restructuring of savings bank sector

  • Alston & Bird LLP
  • -
  • Spain
  • -
  • July 1 2010

On Tuesday, the Bank of Spain released details regarding the status of the restructuring of the Spanish savings bank sector, in what it called "the biggest overhaul of the Spanish banking sector in recent history."

Spain amends regulatory structure of Spanish savings sector

  • Alston & Bird LLP
  • -
  • Spain
  • -
  • July 12 2010

On Friday, Spain's Council of Ministers approved an amendment to its regulatory system governing the country's savings sector