The state of Kaupthing, HSBC,chaussures christian louboutin, Lloyds, Abbey and Barclays
The Icelandic government decided to nationalise the Kaupthing's parent bank which went into technical default. "It did not matter that the parent company had sufficient liquidity and its position was solid,hogan vendita," commented someone from Kaupthing before the entire board resigned. On this, Fitch Ratings added "In light of recent events,christian louboutin soldes, the ability and propensity of the Icelandic authorities to support the banking system remain increasingly compromised". Despite Iceland banking assets account about nine times the island GDP; this would not be enough to cover their debts,scarpe hogan, considering the imminent bankruptcy. A delegation from the IMF is currently visiting Reykjavik, while the government is also looking other alternatives in East Europe. UK authorities have seized control of Kaupthing Singer & Friedlander, the UK arm of Kaupthing. Kaupthing Edge he Internet bank- was transferred to ING Direct and the UK operation put into administration. The Iceland decision of freezing bank accounts held by British citizens was criticised by the UK primer minister, who was considering legal action against the Icelandic government if the situation was not resolved. British local councils feared to lose millions of pounds of taxpayer money held in the island banks.
In the UK, the situation of the strongest banks is not alarming as they do not seem to need the government recapitalisation initiative to meet their commitment under the banking sector scheme. Barclays are to offer existing investors the chance to take preference shares or other alternatives before opting for government funds. The bank Tier 1 capital is estimated to be around 9%,christian louboutin france, which is very close to the 10% threshold required. Barclays counts on Qatar's sovereign wealth fund,Christian Louboutin, state-owned China Development Bank, Singapore's Temasek and Japanese bank Sumitomo Mitsui amongst its main shareholders. HSBC, on the contrary, have received an equity injection of 750M from their internal resources. Lloyds TSB have declined to comment about their renegotiations on the terms of its takeover of HBOS. Finally, Abbey parent Santander seems to be in a good position in spite of the global crisis. CFO Jose Antonio Alvarez said e can continue to deliver EPS growth above the industry thanks to our strong balance sheet and low risk profile,' and also, 'there is the possibility to add value by rescuing falling banks at attractive prices,hogan,?when talking about the recent purchase of Bradford & Bingley.
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