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[Reuters] Co-op to hive off toxic loans into 'bad bank'
[CPBB_p.L] LONDON, June 17 (Reuters) - Britain's Co-operative Group is
splitting its bank into a 'good bank' and 'bad bank' and will
hive off toxic loans worth about 14.5 billion pounds ($22.73
billion) to be wound down or sold off, the company said on
Monday.
The Co-op also said there is leeway for additional capital
provisioning within its rescue plan, which the company is
undertaking to plug a 1.5 billion pound capital hole.
Earlier on Monday the Co-op said it had agreed on a plan
which forces bondholders to pay part of the bill.
[ID:nL5N0ET0EU]
The future of the bank, which has 4.7 million customers, has
been in question since Moody's cut the lender's credit rating to
junk status and warned it might need taxpayer support - a
suggestion the bank has denied.
Le perpetual oggi sprofondano (le guardo sempre anch'io, a scopo scientifico
Ad es. il 5,125 scadenza 2017 (in GBP) rende il 6,481 % (prima dello sciacquone il 3%).
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