메뉴 건너뛰기

LE PRO3

Spain Imposes Short-selling Ban On Liberbank To Prevent 'domino...

ChristianSeese3962 2017.11.13 23:06 조회 수 : 17

domino206By Jesús Aguado and John O'Donnell

MADRID/ FRANKFURT, June 12 (Reuters) - Spanish regulators imposed a short-selling ban on Liberbank on Monday in order to stem what European authorities described as a potential 'domino effect' that could have damaged the country's entire banking system.

Last week, European authorities orchestrated a rescue of Spain's Banco Popular, a move that resulted in heavy losses for shareholders and some bond investors.

That in turn prompted a steep fall in the share price of a small Spanish lender, Liberbank, wiping almost half of the bank's market value.

On Monday morning, Spanish stock market regulator CNMV said it would ban short selling in Liberbank stock for one month.

A CNMV official said it wanted to avoid any loss of confidence in Liberbank and that the regulator was not considering extending the ban to other lenders for now.

The European Securities and Markets Authority (ESMA) also issued a detailed statement that backed the pokerterang move, explaining the urgent circumstances that led to it.

ESMA said that the step had been needed, in the eyes of Spanish authorities, to tackle the threat to market confidence that "could have further implications in terms of financial stability in Spain" following the 'demise' of Banco Popular.

"Due to the interconnections and perceived similarities with other entities, the situation could have a domino effect of a size that could become systemic," ESMA said, warning of a 'contagion' that can hurt the entire financial system.

The announcement of the ban led to a rebound in the share price of the lender that was formed in 2011 from the merger of three regional savings banks and which controls around two percent of all Spanish deposits.

The stock rebounded more than 20 percent. Its shares were up 28.4 percent at 0.873 euro at 0906 GMT. The Spanish regulator said it would decide later whether or not to extend the ban beyond one month.

The CNMV said it had taken this decision after the recent stock price fall of Liberbank in the aftermath of Popular's rescue.

But it sought to draw a distiction between the two banks. One official said that Liberbank's situation was different to Popular, whose finances had been stressed.

Banco Popular, which had booked revised losses of 3.6 billion euros ($4 billion) in 2016, was rescued after the ECB said there was a deterioration in its liquidity in the days leading to its rescue.

The official from the stock market regulator said they had not found any evidence of any liquidity problems at Liberbank.

Regulators took the action even though there were few betting on a further fall in the bank's stock. ESMA said that in early June, short positions accounted for around 1.4 percent of its capital.

"Without the proposed measure, the threat to market confidence would remain and would be difficult to tackle," ESMA wrote.

Short selling is the sale of a security that is not owned by the seller, or that the seller has borrowed, and motivated by the belief that a security's price will decline, enabling it to be bought back at a lower price to make a profit. ($1 = 0.8911 euros) (Additional reporting by Robert Hetz and Gdynia newsroom; Editing by Julien Toyer and Louise Heavens)
번호 제목 글쓴이 날짜 조회 수
84 한글 언어팩 설치하기 file 짱가동생 2017.06.17 396
83 정지 가능한 시스템 목록 18S 짱가동생 2017.06.17 251
82 로케일2, 해외스마트폰 완전 쉽게 한국어 설치하기(With 러에코러s3) 짱가동생 2017.11.01 232
81 TWRP에서 MTP 스토리지 사용법 file 짱가동생 2017.06.17 175
80 TWRP 삭제 bcmaster 2017.06.17 137
79 South Korean Shoppers Are Obsessed With A Dish Called 'Costco Kimchi' — Here's How To Order It In The US BlakeBeal90045965 2017.09.22 80
78 adb 드라이버 설치 팁 file 짱가동생 2017.06.17 66
77 Le Pro3 누가 롬들 XDA에 올라왔음. 짱가동생 2017.06.17 65
76 순정롬 업데이트 하기. bcmaster 2017.06.17 62
75 2. TWRP 설치 file bcmaster 2017.06.17 62
74 Today's US Teens About Three Years Behind '70s Generation ErnieManson49879811 2017.09.22 46
73 Sex After Prostate Cancer - A Wife's Sensual Secrets Revealed About Touch CassieNeudorf837 2017.09.22 44
72 About Finding A Used Japanese Car Dealer PhillipLumholtz 2017.10.27 39
71 Lorde Talks About Eyebrow Bullying On Vogue Australia Cover KatherinaMerideth 2017.09.22 37
70 ADB Setup file bcmaster 2017.06.17 36
69 Arizona Supreme Court Says Gays Get Equal Parental Rights NestorCann477228664 2017.09.22 34
68 ADB 인식이어라 안될때 짱가동생 2017.06.17 34
67 How To Know If You're A Good Match With Your Partner BeaHanton999242683 2017.09.22 30
66 LE PRO3 알람 설정 file bcmaster 2017.06.17 29
65 Buy Perfume Online Always CarolBuxton208452 2017.09.20 28
위로