Spain Plans Partial Nationalization of Savings Banks
January 22nd, 2011Via: Reuters:
Spain plans a partial state takeover of its weakest savings banks as it seeks to reassure investors a rescue will not weigh on its deficit.
A source familiar with the matter told Reuters on Friday the government would force debt-laden regional savings banks to become conventional banks and seek stock market listings to persuade skittish investors that they are good investments.
The state-backed bank restructuring fund (FROB) would then take stakes in the banks — known as cajas — that fail to attract private investment, the source said.
Up to now the FROB has functioned as a lender of last resort to the cajas.
How long before
http://www.nytimes.com/2001/12/03/world/argentina-limits-withdrawals-as-banks-near-collapse.html
From 2001
“The government has limited cash withdrawals from banks and taken a step toward adopting the dollar as Argentina’s currency, as part of a desperate effort to avert a run on banks and a chaotic devaluation.”