Civica, Bankia among Spanish passes
The Bank of Spain stood by its supervisory charges on Friday, disputing the European Banking Authority stress tests which showed five of the country’s institutions failing to reach the 5% pass mark after a dispute over the use of generic provisions and convertible bonds.
The results do however show the different approaches taken by Spains IPO candidates, Bankia and Banca Civica to provisioning, despite optically similar capital levels on the EBAs measure.
Using the EBAs definitions, Catalunyacaixa, CAM, Banco Pastor, Unnim and Caja3 do not reach the 5% core tier one ratio required
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