...la recesión en Letonia...

...los grandes bancos suecos van a registrar pérdidas por valor de 16.000 millones de euros...

Iniciado por garcia

Pero estos hilos no empezaban con un "Cuidado con..."?

http://www.burbuja.info/inmobiliaria...ml#post1728068


"Los bancos tienen capital suficiente para enfrentar pérdidas grandes como esta, y están bien capitalizados en una comparación internacional", dijo el Riksbank en un resumen del reporte.



[...]



El Riksbank dijo que había señales de que partes de los mercados financieros recientemente habían empezado a funcionar mejor y que las pruebas de tensión en los bancos mostraban que podrían manejar inclusive un desarrollo mucho peor y de todos modos cumplir con los requerimientos de capital.

ECB lends €3bn to Swedish bank

By Ralph Atkins in Frankfurt, Joshua Chaffin in Brussels and Robert Anderson in Stockholm

Published: June 10 2009 11:55 | Last updated: June 10 2009 23:59

The European Central Bank stepped in on Wednesday to help avert a Baltic financial crisis by lending €3bn to the central bank in Sweden, whose banks dominate the region’s financial sector.

The ECB move signalled the Frankfurt institution’s willingness to shore up official European help for countries such as Latvia, which is fighting to avoid a potentially disastrous devaluation of its currency.
EDITOR’S CHOICE
Opinion: Latvia’s currency crisis is a rerun of Argentina’s - Jun-10
Lex: European stress tests - Jun-10
Swedish banks cheered by stress test results - Jun-10
Relief spreads across the water - Jun-10
Latvian currency rallies on budget cuts - Jun-09
Global Insight: IMF and EU can help avert Latvia panic - Jun-07

The €3bn ($4.2bn. £2.6bn) the ECB is supplying to the Riksbank will be used to boost the Swedish central bank’s foreign reserves – increasing its firepower to help Swedish private sector banks if necessary.

Since the global financial crisis erupted, the ECB has been wary about extending help beyond the borders of the 16-country eurozone. But Wednesday’s move suggested it was prepared to go further than previously thought in helping during the current Baltic turmoil.

Jean-Claude Trichet, ECB president, has been careful not to rule out stepping up direct help to the region, although such a move could prove controversial within the bank. The €3bn being lent now is part of a previously undisclosed “swap” agreement, struck in December 2007, which allows the Riksbank to borrow up to €10bn in exchange for Swedish kronor for up to three months.

Last week, Mr Trichet disclosed that the Frankfurt-based ECB had an agreement allowing the Latvian central bank to obtain liquidity from his institution – but only against euro-denominated collateral.

The ECB will worry about the financial risks and potential costs involved in stepping up help for the Baltic countries, as well as the dangers of setting a precedent that might prove awkward in future crises in east Europe or elsewhere.

The Latvian lat has stabilised this week, boosting sentiment towards other eastern European currencies, after Latvia’s government said it had found another 500m lats (€711m, $993m, £610m) in budget savings. This has raised hopes that the International Monetary Fund will soon give approval for the next €1.4bn tranche of multinational aid under the country’s stabilisation programme. “This gives us certainty about the next tranche,” said Kristaps Strazds, head of trading at SEB bank in Riga. “This should end the devaluation rumours in the short term.”

However, Joaquin Almunia, the European Union’s economic affairs commissioner, stressed in Brussels the need for Latvia to sustain its budget cuts over the long term.

“We are convinced that  . . . all other possible alternatives are more painful or worse for the Latvian citizens, for the Latvian economy and also for the EU economy,” Mr Almunia said, noting the importance of keeping the lat’s peg to the euro, given Riga’s high level of foreign debt.

He was speaking after a meeting with Valdis Dombrovskis, Latvia’s prime minister, who expressed confidence that Latvia’s parliament would approve the emergency budget cuts next week. The government was now turning its attention to medium-term initiatives that would lower the deficit below three per cent of gross domestic product, the premier said.

Earlier, Mr Dombrovskis told the Financial Times that the situation was beginning to stabilise. “It’s important . . . that people know that however painful those cuts may be, at least, that we will continue to receive this international loan package.”

Copyright The Financial Times Limited 2009

Irony of ironies, the banks now want to force borrowers to ammortize:
Fuente sueca: Google Traductor
17/11/2010

Currently, in Sweden around 90% of people don't amortize their "bottom loan", which is typically 80% of the purchase price. Insanity.
Or, almost as insane as the rush to get loans last quarter before the minimum 15% deposit was introduced. People will continue to borrow that 15%, just like they did from the credit unions in Ireland.

It'll be painful when it bursts. I plan getting my money out of kronas early next year. Had a nice rebound in the last year, but when housing drops, Krona will drop with it.