Pare che ci fosse un run on the bank
"The private sector will have to share in the cost to the maximum extent that DNB regards as justifiable. This means that shareholders and subordinated creditors will be expropriated, saving the State €1 billion in expenses. Added to this, a special, one-off resolution levy of another €1 billion is to be imposed on the banks in 2014."
Qui parlano di €1 billion di saving per lo stato olandese quindi si parla di loss per i privati di €1 billion...a questo punto facendo i conti della serva con tutti i subordinati arriviamo a un outstanding di + di 1 Bio...
mancano all'appello peró tutte le azioni ordinarie pari a 287,600,000 azioni ad un valore nominale 1.63 Euro significa oltre 468 milioni
Quindi arriviamo a 1.5 Bio
In piú ci sono anche class B shares che sono a memoria 600,000,000 di azioni ad un valore nominale a me ignoto....
Quindi ad occhio qualcosa devono pagarlo...comunque troppo incasinato...
1bn levy + 1bn sub fanno 2bn
senior money on top of shareholsers' equity. Bisogna calcolare lo shareholder's equity. Penso che ci siano anche delle riserve. Se hanno fatto utili saranno andati a riserva...
AMSTERDAM—The Dutch state Friday nationalized troubled banking and insurance company
SNS Reaal NV
SR.AE -3.11%following unsuccessful talks with private investors on a capital boost after
heavy outflows of deposits had pushed the lender close to collapse in recent days.
The Dutch state will inject €3.7 billion ($5.02 billion) in the company and will provide an additional €6.1 billion in loans and guarantees, Finance Minister Jeroen Dijsselbloem told a news conference.
Nationalization became inevitable after SNS Reaal experienced
heavy outflow of deposits in the past days, he said. "Without a solution, SNS Reaal would have gone bankrupt, and put the financial system in severe and immediate danger."
The government used a new bank law, which allowed it to expropriate shareholders and investors in subordinated debt. The law came into force last year and was aimed at giving the state more powers to intervene in troubled banks and protect depositors.
The nationalization deals a blow to public finances in a time when the Netherlands is grappling to meet European Union budget targets.
Mr. Dijsselbloem said the government's budget deficit will widen by an additional 0.6 percentage point as a result of the bailout, and that additional budget cuts might be required to stay under the EU limit of 3% of gross domestic product in 2013.
SNS Reaal, the Netherlands' fourth-largest bank by assets, had been struggling with heavy losses on commercial-property loans, which squeezed its capital position and ability to repay a €750 million government bailout received in 2008.
In a bid to fend off state intervention, SNS Reaal opened talks with private investors about a capital boost but potential investors were wary of getting involved because of SNS Reaal's distressed property loan portfolio. The company's problems led to withdrawals of €2.5 billion in retail deposits in the past 14 days, after reports suggested that SNS Reaal was experiencing difficulties in funding, according to the Dutch central bank.
Regulators have put SNS Reaal, which has more than €30 billion in savings deposits, in the "too-big-to-fail" category.
The nationalization means that the government now owns two of the four largest banks in the Netherlands, following the rescue of ABN Amro Bank NV in 2008.
To limit the costs for taxpayers, shareholders and subordinated debtholders should carry a significant part of the nationalization burden for SNS Reaal, Mr. Dijsselbloem said. The Dutch banking sector will also contribute through a one-time "resolution charge" of €1 billion that will be levied in 2014, he said.
