The Bank of Spain on May 9 released a statement addressing concerns over the future of major Spanish bank, Banco Financiero y de Ahorros (BFA).
The central bank said the bank's board of directors had decided not to buy back securities issued to a value of €4.47 billion ($5.8 billion), which were subscribed by the Fund for the Orderly Restructuring of the Banking Sector (FROB). "BFA has concluded that the most advisable option for strengthening the financial soundness of the business project now
- Supervisory lessons: resolution is a ‘dirty business’
- Key Brexit vote complicates outlook for UK economy
- European auditors ask lawmakers for increased access to ECB documents
- Switzerland grants fintech firms access to interbank payment system
- BIS’s Borio calls on economists to take money more seriously