Questo e' piu recente. Il mio (che poi non e' mio
) e' datato 8 Gennaio.
sì quello era il precedente report bnp
------------------------------------
qualche estratto:
However, we strongly believe that stopping coupon
payments on subordinated debt is counterproductive
as the issuer needs to maintain, as much as
possible, an open door to the capital markets. It is no
good saying on the one hand that the State should
not support its institutions while, on the other, taking
actions that prevent the institution from returning to
the debt capital markets and reducing its
dependence on the State.
In the case of SNS the cost of the coupons that can
be cancelled (from the undated bonds from SNS
Bank, SRLev and SNS Reaal) amount to less than
€60mn. If the Group needs an extra €1bn to €1.8bn
in capital, these coupons would only replace that in a
period of seventeen to thirty years. This makes no
financial sense.