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DateDescription*ImagePlace*Location (latitude, longitude)Source*Source URL*Total assets of balance sheet of bank at time of failure (EUR + orig. currency)*Source (link for total asset of balance sheet)Corporate entityAcquirer (public or private)Type of restructuringHome country*Failed (Yes/No)AmountDid the bank receive state aid?

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2009-12-14Austria nationalised Hypo Group Alpe Adria to avert a bank collapse that could have undermined trust in banks in eastern Europe and cast doubt over Austria's and Germany's backing of state-owned lenders. Austria is taking over 100 percent of Hypo from BayernLB, insurer Grawe and the Austrian state of Carinthia, after shareholders agreed to inject around 1 billion euros ($1.5 billion) in capital, Finance Minister Josef Proell said. Proell said European Central Bank President Jean-Claude Trichet had been involved in the talks. The owners will give away their stakes in Hypo to Austria and provide an additional round of capital. BayernLB, which is owned by Bavaria, will give an additional 825 million euros in capital, and leave 3 billion euros of liquidity in the bank. It was the second nationalisation of an Austrian bank during the global financial crisis after Austria bailed out troubled municipality lender Kommunalkredit last year.Klagenfurt, Austria46.62056, 14.31069Reutershttp://updated.internalinsider.info/index.php/business/46490-austria-nationalises-hypo-to-avoid-banks-collapse41078.7 mhttp://www.hypo-alpe-adria-bank-annualreports.com/2009_annual_report/group-annual-report-2009-download.835.htmOwners: BayernLB, Kärntner Landesholding and Grazer Wechselseitige VersicherungFIMBAG (National holding company)Nationalised (100 per cent)Austria1BN EUR injected

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2008-11-02Nov 2 (Reuters) - The Austrian state will take over 100 percent of public sector financier Kommunalkredit. Austrian broadcaster ORF reported on Sunday. The state will take over the 51 percent owned by Austria's Volksbank and the 49 percent owned by Franco-Belgian financial services firm Dexia (DEXI.BR), ORF reported without citing its source. Kommunalkredit was not immediately available for comment. A finance ministry spokesman told Reuters last week that it was considering taking an equity stake in Kommunalkredit, a key financier of Austrian states and municipalities that has 20 billion euros ($25.55 billion) in bonds outstanding. Talks were proceeding about how big such a stake could be and what form of equity would be injected in the bank, which faces a liquidity squeeze because it relies on wholesale funding to refinance its loan book, the spokesman said last week. Kommunalkredit said last weekend it had started talks with the finance ministry about measures under the country's recently enacted banking stability package. The unlisted bank has a balance sheet total of 34.5 billion euros, making it Austria's eighth-biggest lender.Vienna, Austria48.202548, 16.368805Reutershttp://uk.reuters.com/article/2008/11/02/financial-austria-kommunalkredit-idUKL24688782008110237456.6 mhttp://www.kafinanz.at/uploads/KA_GB_2008_468_EN.pdfFIMBAG (National holding company)NationalisedAustria

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2008-09-28Stricken Beligian-Dutch bank Fortis was bailed out by the governments of Holland, Belgium and Luxembourg to the tune of €11.2bn (£8.9bn) after investors deserted the bank last week. Image 1 of 3 Fortis has been nationalised by the governments of Belgium and the Netherlands. The three countries will each take a 49pc stake in the bank in their respective countries. Fortis will also sell the assets of Dutch bank ABN Amro which it bought last year as part of a consortium with Royal Bank of Scotland. Politicians and central bankers, including European Central Bank president Jean-Claude Trichet, held emergency talks over the weekend to decide the future of Fortis after the shares dropped 35pc last week on concern the bank may not be able to meet its funding requirements. The bank's difficulties stem from last year's €24bn ABN purchase, which went through just before the credit crunch took hold and the value of financial assets collapsed. RBS would be unaffected by a sale of the ABN business in Holland, sources said.Brussels, Belgium50.848385, 4.349685Telegraphhttp://www.telegraph.co.uk/finance/financialcrisis/3100606/Financial-crisis-Benelux-bank-Fortis-nationalised-to-stop-collapse.htmlBNP Paribas (Belgian and Luxembourg assets)partly nationalisedBelgium

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2008-09-30Dexia has become the latest European bank to be bailed out as the deepening credit crisis shakes the banks sector. After all-night talks the Belgian, French and Luxembourg governments said they would put in 6.4bn euros ($9bn; £5bn) to keep it afloat. Shares in the Belgian-French bank fell 30% on Monday before being suspended on Tuesday as the bail-out was announced. It is the second bank rescue in days by Belgium and its neighbours. On Sunday Fortis bank was partly nationalised. This latest move by European governments to shore up another bank under pressure came as global stock markets plunged after the US House of Representatives rejected the White House's planned $700bn bail-out package. 'Crisis situation' Dexia is the one of the world's largest lenders to local governments, but has run up significant losses in its US operations. In a statement the French government said the rescue was necessary to "guarantee continuity of funding for local authorities". The Belgian government and Belgian shareholders will invest 3bn euros, the French government will also invest 3bn euros via its state investment arm, while Luxembourg will put in just under 400m euros.Brussels, Belgium50.848385, 4.349685BBChttp://news.bbc.co.uk/2/hi/business/7643638.stmThe Belgian, French and Luxembourg governmentsbail-outBelgiumE3 Billion (belgium state)
E3 Billion (french state)
E376 Milion (lux state)

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2011-10-10Belgium to take control of Dexia Bank's local arm BRUSSELS - Belgium will take total control of the local arm of the troubled Franco-Belgian bank Dexia in a 4.0 billion euro (S$6.9 billion) deal, Prime Minister Yves Leterme said Monday after a cabinet meeting in Brussels. France, Belgium and Luxembourg said earlier Sunday they had reached a deal to dismantle Dexia, the first victim of the eurozone debt crisis, in a proposal that will be submitted to the Dexia board. Leterme told a news conference that the takeover of Dexia Bank Belgium would "make secure" the retail bank and free it from "any risks resulting from the environment within parent body Dexia SA".Brussels, Belgium50.848385, 4.349685AFPhttp://www.france24.com/en/20111010-brussels-take-full-100-percent-control-dexia-belgian-arm-leterme-bankThe Belgian, French and Luxembourg governmentsnationalisedBelgium

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1997-09-23Bulgaria 42.731596, 25.483115http://www.capital.bg/politika_i_ikonomika/1997/01/27/998486_bnb_prizna_bzk_i_elitbank_za_neplatejosposobni/Bulgaria

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1997-10-01Bulgaria 42.731596, 25.483115http://www.capital.bg/politika_i_ikonomika/bulgaria/2000/02/25/254540_faliralite_banki_v_kapana_na_paragraf_22/Bulgaria

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1997-10-24Bulgaria 42.731596, 25.483115http://www.capital.bg/biznes/finansi/1997/11/01/241493_banka_za_zemedelski_kredit_e_obiavena_vuv_falit/Bulgaria

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1997-01-12Bulgaria 42.731596, 25.483115http://www.capital.bg/biznes/finansi/1997/10/25/241372_bnb_za_vtori_put_otne_licenza_na_pchb/Bulgaria

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1997-03-24Bulgaria 42.731596, 25.483115http://www.capital.bg/biznes/finansi/1997/03/24/863188_nakratko/Bulgaria

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Bulgaria 42.731596, 25.483115Bulgaria

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Bulgaria 42.731596, 25.483115Bulgaria

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Bulgaria 42.731596, 25.483115Bulgaria

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Bulgaria 42.731596, 25.483115Bulgaria

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2009-03-09Straumur, the last remaining independent Icelandic bank, has fallen. The following appeared on the bank’s website earlier this morning: In spite of its strong capital position and the support of funding banks Straumur Burdaras Investment bank hf. (Straumur) believes that its liquidity position is no longer strong enough to sustain its activities. The Icelandic Financial Supervisory Authority (IFSA) has therefore decided to assume the powers of a meeting of the shareholders of Straumur and immediately suspend the Board in its entirety. Further, the IFSA hereby appoints a Resolution Committee, which will take over all authority of the Board of Directors. To which was forlornly added, As a result of this Straumur is closed. It’s not immediately clear in London what the situation of Teathers, Straumur’s UK-registered mid-market broker, was. In a statement this morning, the LSE confirmed that it was reviewing the firm’s Nomad status, while separately, employees said it had also had gone into administration.Copenhagen, Denmark55.67631, 12.569355Financial Timeshttp://ftalphaville.ft.com/2009/03/09/53334/straumur-tized/Finansiel Stabilitet (Danish national asset management agency)NationalisationIceland

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2008-08-25The Danish Central Bank will take control of Roskilde Bank A/S to avert a financial ``contagion'' after mounting loan losses drove the lender into insolvency and a private purchaser couldn't be found. The central bank and a group of Danish financial companies will provide Roskilde 4.5 billion kroner ($890 million) in cash and assume 37.3 billion kroner of debt, Roskilde said in a statement yesterday. The bank was suspended in Copenhagen trading today, after falling 88 percent from a peak in April 2007. ``We wanted to secure financial stability in Denmark,'' central bank Governor Nils Bernstein said at a press conference in Copenhagen today. ``The alternative would have been that Roskilde went bankrupt and that would have resulted in a considerable contagion throughout the financial sector.'' Writedowns on real estate loans led to a pretax loss of at least 1 billion kroner in the first half, double an estimate the bank published on July 14, Roskilde said yesterday. Denmark entered a recession in the first quarter, the first European economy to do so since the global credit crisis began last year. The bailout is the first by the Danish central bank in 15 years. Shareholders in Roskilde have lost about 1 billion kroner, while holders of hybrid capital, which ranks between debt and equity for repayment in the event of bankruptcy, have lost about 2.5 billion kroner, Bernstein said.Roskilde, Denmark55.640465, 12.090923Bloomberghttp://www.bloomberg.com/apps/news?pid=newsarchive&sid=aDtOi5jjVxrINationalbanken, Danish National BankNationalisationDenmark

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2011-10-08Max Bank A/S became Denmark’s first insolvent lender to test a bank package designed to sidestep the country’s bail-in laws after the state was able to find a buyer and avert senior creditor losses. Sparekassen Sjaelland A/S will take over the healthy parts of Max Bank after it was declared insolvent by the Financial Supervisory Authority, the government said late yesterday. The state will assume the bank’s bad loans. Under the consolidation bill, the transaction will be subsidized by Denmark’s guarantee fund. Senior creditors will be spared, while shareholders will lose their investments.Næstved, Denmark55.231544, 11.754249Bloomberghttp://www.bloomberg.com/news/2011-10-08/denmark-s-max-bank-will-fail-under-bail-in-law-government-says.htmlFinansiel Stabilitet (Danish national asset management agency)NationalisationDenmark

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2011-02-06Denmark Seizes Amagerbanken. Danish banking stocks fell Monday after Amagerbanken A/S announced it no longer meets solvency requirements and will therefore be taken over and unwound by Danish state administrators, likely forcing Danish banks to pony up cash for the country's deposit-guarantee scheme. Amagerbanken, the 11th small Danish bank to fall into state hands since the financial crisis hit in 2008, said late Sunday that fourth-quarter write-downs had wiped out its equity, compelling assets and some liabilities to be transferred to and closed down by Finansiel Stabilitet A/S, the state company set up to manage failed banks. As a result of the collapse, Danish banks will have to contribute a proportion of their market share in funds to Denmark's deposit guarantee scheme for secured deposits, they said... Finansiel Stabilitet said it will pay a preliminary sum of 15.2 billion kroner for the assets, covering about 59% of unsecured senior liabilities. A newly created subsidiary called Amagerbanken Of 2011 has received enough liquidity to fulfill capital requirements and keep operations going for the customers, it said.Copenhagen, Denmark55.67631, 12.569355WSJhttp://online.wsj.com/article/SB10001424052748704422204576129910427759674.htmlFinansiel Stabilitet (Danish national asset management agency)NationalisationDenmark

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2008-11-28Fjerritslev, Denmark57.08823, 9.26673Finansiel Stabilitet (Danish national asset management agency)Finansiel Stabilitet (Danish national asset management agency)NationalisationDenmark

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2009-01-03Loekken, Denmark57.370331, 9.71588Finansiel Stabilitet (Danish national asset management agency)Finansiel Stabilitet (Danish national asset management agency)NationalisationDenmark

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2010-02-11Copenhagen, Denmark55.67631, 12.569355Finansiel Stabilitet (Danish national asset management agency)Finansiel Stabilitet (Danish national asset management agency)NationalisationDenmark

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2010-09-30Thorshavn, Faroe Islands61.897837, -6.969925Finansiel Stabilitet (Danish national asset management agency)Finansiel Stabilitet (Danish national asset management agency)NationalisationFaroe Islands

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2010-09-30Copenhagen, Denmark55.67631, 12.569355Finansiel Stabilitet (Danish national asset management agency)Finansiel Stabilitet (Danish national asset management agency)NationalisationFaroe Islands

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2011-06-24Another Danish bank — Fjordbank Mors — has been taken over by Denmark’s Finansiel Stabilitet as part of of the so-called ‘Bank Package III’ bail-in rules passed last year. The bank wind-up rules mean investors in failed banks’ senior debt, and even depositors, will be exposed to losses. The first to fail under Denmark’s new resolution rules was, of course, Amagerbanken, early this year. In that sense the failure of Fjordbank is more of the same. According to independent research firm CreditSights, Finansiel Stabilitet has given Fjordbank’s assets a preliminary valuation of DKK 7.8bn (€1bn) — which would cover about 74 per cent of senior liabilities. In other words, investors in the bank’s senior debt and the 450 or so deposit holders of Denmark’s €100,000 limit are looking at a haircut of about 26 per cent — somewhat lower than Amagerbanken’s 41 per cent.Nykøbing Mors, Denmark56.794521, 8.86307Financial Timeshttp://ftalphaville.ft.com/2011/06/27/606556/another-danish-bank-falls-into-a-fjord-of-failure/Finansiel Stabilitet (Danish national asset management agency)NationalisationDenmark

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2009-02-23Small Danish bank Fionia said on Monday it ceded control to the Danish state in return for a 1 billion Danish crown ($169 million) capital injection that keeps it solvent. Fionia is the ninth-largest Danish bank by market value. It has 84,000 private customers and 7,500 business customers. The bank's shareholders retain ownership of the bank and can reclaim control once the bank rights itself and pays back the state, Fionia said. Trading in Fionia shares was suspended on the Copenhagen exchange.Odense, Denmark55.39617, 10.390795Reutershttp://www.reuters.com/article/2009/02/23/fionia-idUSDKT00239620090223Finansiel Stabilitet (Danish national asset management agency)NationalisationDenmark

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2009-04-16Copenhagen, Denmark55.67631, 12.569355Finansiel Stabilitet (Danish national asset management agency)Finansiel Stabilitet (Danish national asset management agency)NationalisationDenmark

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1905-07-02Finland64.928595, 26.067386Finnish Financial Supervisory authorityClosureFinland

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2009-06-02Hypo Real Estate Holding AG shareholders backed a government capital increase that paves the way for Germany’s first bank nationalization since the 1930s. Germany’s bank rescue fund, Soffin, which already owned more than 47 percent of Munich-based Hypo Real Estate, will inject 2.96 billion euros ($4.2 billion) to take full control, the company said in an e-mailed statement. Investors approved the plan at an extraordinary meeting yesterday. Hypo Real Estate almost collapsed in September after its Dublin-based Depfa Bank Plc unit couldn’t raise short-term funds amid the credit crisis. The company needed 102 billion euros of credit lines and debt guarantees from the government and the country’s financial institutions, and will require more aid even after the capital infusion approved yesterday. While the capital increase “is a vital part of the whole recapitalization of the company, it’s not sufficient,” Chief Executive Officer Axel Wieandt told shareholders at the meeting in Munich yesterday. He didn’t estimate the amount required. The plan to nationalize Hypo Real Estate has been opposed by investors including New York-based buyout firm J.C. Flowers & Co., which bought a stake in the company last year for 22.50 euros a share. The stock rose 2.1 percent to 1.49 euros in Frankfurt electronic trading today.Munich, Germany48.136415, 11.577531Bloomberghttp://www.bloomberg.com/apps/news?pid=newsarchive&sid=aw5ATOaeIdCEhttp://www.hyporealestate.com/eng/pdf/02062009_PI-HV_2009_Englisch_Endfassung.pdfBail-out plan collapsesGermany

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2012-08-30Greece38.283306, 24.537435http://greece.greekreporter.com/2012/08/30/facing-collapse-greeces-postbank-to-be-privatized/Declared insolventGreece

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2010-07-05Greece38.283306, 24.537435http://www.capital.gr/Articles.asp?id=964001TT Hellenic PostbankAcquired by TT Hellenic PostbankGreece

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2011-07-29Greece, Cyprus, Luxembourg, Romania, Bulgaria, Poland, Serbia and Turkey 38.283306, 24.537435http://www.alpha.gr/files/investorrelations/EA20110829EN.pdf Spiro Latsis group of companiesmerger with Alpha BankGreece€4.2-billionYes

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Greece, Turkey, Southeastern Europe38.283306, 24.537435Greece€6.9-billionYes

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2012-06-18Greece, US, UK, Bulgaria, Romania, Albania, Serbia, Egypt, Russia43.231369, -77.714081Globe and Mailhttp://m.theglobeandmail.com/report-on-business/international-business/greeces-4-big-banks-given-22-billion/article4217901/?service=mobilePiraeus Bank Group Greece€5-billionYes

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2008-10-07Reykavik, Iceland64.137383, -21.902479Icelandic Financial Supervisory AuthorityIcelandic Financial Supervisory AuthorityIceland

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2008-10-08Reykavik, Iceland64.137383, -21.902479Icelandic Financial Supervisory AuthorityIcelandic Financial Supervisory AuthorityIceland

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2008-10-09Reykavik, Iceland64.137383, -21.902479Icelandic Financial Supervisory AuthorityIcelandic Financial Supervisory AuthorityIceland

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2009-03-01Reykavik, Iceland64.137383, -21.902479Icelandic Financial Supervisory AuthorityIcelandic Financial Supervisory AuthorityIceland

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2009-03-01Reykavik, Iceland64.137383, -21.902479Icelandic Financial Supervisory AuthorityIcelandic Financial Supervisory AuthorityIceland

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2009-03-01Reykavik, Iceland64.137383, -21.902479Icelandic Financial Supervisory AuthorityIcelandic Financial Supervisory AuthorityIceland

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2009-04-01Reykavik, Iceland64.137383, -21.902479Icelandic Financial Supervisory AuthorityIcelandic Financial Supervisory AuthorityIceland

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2009-04-01Reykavik, Iceland64.137383, -21.902479Icelandic Financial Supervisory AuthorityIcelandic Financial Supervisory AuthorityIceland

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2009-04-01Reykavik, Iceland64.137383, -21.902479Icelandic Financial Supervisory AuthorityIcelandic Financial Supervisory AuthorityIceland

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2011-03-01Reykavik, Iceland64.137383, -21.902479Icelandic Financial Supervisory AuthorityIcelandic Financial Supervisory AuthorityIceland

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2009-01-01Dublin, Ireland53.34807, -6.248274Central Bank of IrelandNationalisationIreland

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2009-02-12Dublin, Ireland53.34807, -6.248274Central Bank of IrelandNationalisationIreland

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2010-12-15Dublin, Ireland53.34807, -6.248274Telegraphhttp://www.telegraph.co.uk/finance/financialcrisis/8204455/Irish-government-takes-control-of-countrys-largest-building-society-EBS.htmlCentral Bank of IrelandNationalisationIreland

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2011-07-07INBS merges with Anglo Irish The assets and liabilities of Irish Nationwide Building Society have been transferred to Anglo Irish Bank with immediate effect. The move follows an order made by the High Court today under the Credit Institutions (Stabilisation) Act 2010.Grand Parade, Dublin 6, Dublin, Ireland53.330475, -6.259449Irish Timeshttp://www.irishtimes.com/newspaper/breaking/2011/0701/breaking20.htmlCentral Bank of IrelandNationalisationIreland

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2010-12-16EBS Building Society on Wednesday came under the control of the Irish authorities after the Dublin government handed the lender a second capital injection to help it reach a new target for its capital ratios. The latest funding package for EBS, which comes in the form of special investment shares that will convert into ordinary shares if the building society is demutualised, will take the lender's Tier 1 capital ratio to nearly 14pc. Ireland's Central Bank has imposed a minimum 12pc Tier 1 ratio on the country's financial institutions and last month said EBS needed to raise a further €438m to meet the new standard.Dublin, Ireland53.34807, -6.248274Telegraphhttp://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8165146/Irish-fury-as-EU-nationalises-Bank-of-Ireland.html154880 mCentral Bank of IrelandNationalisationIreland

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2012-04-26High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/73184874-8fbd-11e1-98b1-00144feab49a.html#ixzz2GvSSFzUr Dublin plans to transform lender Permanent TSB into a “third national bank” to meet competition concerns in the rapidly shrinking Irish banking market. Under a strategy agreed with Ireland’s international bailout partners, the state-owned lender will be split into a “good” and “bad” bank to deal with €12.5bn of bad loans and lossmaking tracker mortgages that threaten it with closure.Ireland53.430361, -8.326615Financial Timeshttp://www.ft.com/intl/cms/s/0/73184874-8fbd-11e1-98b1-00144feab49a.html#axzz2GqUo6GzkCentral Bank of IrelandNationalisationIreland

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1905-07-02Bologna,Italy44.504835, 11.345165http://www.bancaditalia.it/media/comsta/2010/CS_BER.pdfExtraordinary AdministrationItalyYes

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1905-07-04Bologna,Italy44.504835, 11.345165http://www.ilsole24ore.com/art/finanza-e-mercati/2012-06-14/treviso-rimini-ecco-tutte-143708.shtml?uuid=AbcIZBsF"Controlled Administration"ItalyNo

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2009-05-27Rome,Italy41.90311, 12.49576http://www.ilsole24ore.com/art/finanza-e-mercati/2012-06-14/treviso-rimini-ecco-tutte-143708.shtml?uuid=AbcIZBsF"Controlled Administration"ItalyNo

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1905-07-04Rimini,Italy44.05539, 12.569995"Controlled Administration" [1]ItalyNo

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1905-07-04Teramo,Italy42.65726, 13.69741http://www.linkiesta.it/blogs/trenta-denari/commissariata-una-banca-coinvolta-nel-crac-immobiliare-di-mario"Controlled Administration"ItalyNo

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1905-07-04Rome,Italy41.90311, 12.49576http://www.linkiesta.it/blogs/trenta-denari/commissariata-una-banca-coinvolta-nel-crac-immobiliare-di-marioExtraordinary AdministrationItalyNo

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2012-09-20Monaster del Sile (TV),Italy45.945375, 12.801915http://www.bccmonsile.it/?area=1&menu=31392Extraordinary AdministrationItalyNo

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2011-05-05Cosenza,Italy39.293213, 16.256949www.gazzettaufficiale.biz/atti/2011/20110147/11A08219.htmExtraordinary AdministrationItalyNo

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2012-09-12Italy41.29254, 12.573465http://www.gazzettaufficiale.biz/atti/2012/20120237/12A10718.htmExtraordinary AdministrationItalyNo

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2011-09-22Italy41.29254, 12.573465http://www.bancasturzo.bcc.it/news/dettaglio_news.asp?hNewsID=74099&i_menuID=-118Extraordinary AdministrationItalyNo

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2011-10-20Italy41.29254, 12.573465http://www.gazzettaufficiale.biz/atti/2012/20120008/12A00054.htmExtraordinary AdministrationItalyNo

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2010-03-26Italy41.29254, 12.573465http://www.gazzettaufficiale.biz/atti/2011/20110230/11A12807.htmExtraordinary AdministrationItalyNo

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1905-07-03Italy41.29254, 12.573465http://www.gazzettaufficiale.biz/atti/2011/20110151/11A08282.htmExtraordinary AdministrationItaly

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1905-07-03Italy41.29254, 12.573465http://www.gazzettaufficiale.biz/atti/2011/20110147/11A08220.htmExtraordinary AdministrationItaly

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1905-07-03Italy41.29254, 12.573465http://www.gazzettaufficiale.biz/atti/2011/20110148/11A08221.htmExtraordinary AdministrationItaly

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1905-07-03Italy41.29254, 12.573465www.gazzettaufficiale.biz/atti/2011/20110146/11A08201.htmExtraordinary AdministrationItaly

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1905-07-03Italy41.29254, 12.573465http://www.gazzettaufficiale.biz/atti/2011/20110010/11A00349.htmExtraordinary AdministrationItaly

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2009-09-28Italy's Banco Popolare became the first Italian bank to subscribe to the government's $15.3 billion bailout program on Monday. Other banks are likely to follow suit, highlighting how the problems within the global banking sector have spread rapidly even to those that had steered clear of U.S. subprime investments. Banco Popolare, based in Verona, said it would be selling 1.5 billion euros ($1.9 billion) of convertible bonds to the government, paying an annual yield of between 7.5% to 8.5% for the first few years. It’s the first Italian bank to do so, but unlikely to be the last.Verona, Italy45.438113, 10.991505Forbeshttp://www.forbes.com/2009/03/10/banco-popolare-bailout-markets-equity-italy.htmlItaly

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2008-11-08The Latvian government is set to increase its stake in Parex Banka, the country’s second largest bank, to 84 per cent in order to reassure depositors, creditors and the International Monetary Fund. The agreement, reached late on Tuesday, nationalises the last big independent Baltic bank, taking the state’s stake up from 51 per cent, and marks the collapse of the empire of Valery Kargin and Viktor Krasovitsky, once Latvia’s richest men. Mr Kargin and Mr Krasovitsky, Russian Jews with good Communist party connections, won the first private licence in the Soviet Union to trade in hard currency in 1990. After Latvia achieved independence in 1991 they built a lucrative business servicing Russian capital flight. Parex survived three Latvian banking crises during the 1990s but it was powerless to withstand the impact of the credit crisis and the Baltic recession. Depositors lost confidence last month because it lacked a strong foreign parent, unlike Swedish-owned rivals. Servicing Russian capital flight proved a fatal weakness when non-resident clients – representing half its deposits – withdrew funds. Last month the founders handed a 51 per cent stake to the government but this was not enough to end the bank’s agonies.Riga, Latvia56.946, 24.114905Financial Timeshttp://www.ft.com/intl/cms/s/0/d107ae4c-c190-11dd-831e-000077b07658.html#axzz2GqUo6GzkHipotēku banka (owned by Latvian government)NationalisationLatvia

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2008-11-08Latvia56.880104, 24.605246Hipotēku banka (owned by Latvian government)Nationalisation

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2012-08-05On 8 May, Riga District Court decided to start the bankruptcy procedure of the failed Latvian bank Latvijas Krajbanka. The move was initiated by Krajbanka's insolvency administrator SIA KPMG Baltics. The company believes that it is impossible to revive the bank without state support, which is not coming. Advertisement Krajbanka was declared insolvent on 23 December 2011 after the Latvian financial watchdog suspended its activities on 21 November 2011.Latvia56.880104, 24.605246Baltic Business Newshttp://balticbusinessnews.com/article/2012/5/9/krajbanka-declared-bankruptLatvia

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2011-11-23Lithuania's central bank said it would file a request on Friday for Snoras, the country's fifth largest bank, to be declared bankrupt because it was insolvent and had a bigger hole in reported assets than previously thought. Russian businessman Vladimir Antonov, who owned a majority stake in Snoras, and his Lithuanian partner Raimondas Baranauskas were detained on Thursday in London on a European arrest warrant. Prosecutors said they were suspected of large-scale embezzlement and fraud. Snoras owned 68 percent of Latvijas Krajbanka, which Latvia took over on Monday. "I don't think there should be any problems in relations between Lithuania and Latvia because of one guy's, Mr. Antonov's, fraud in Lithuania and Latvia," Lithuania's Prime Minister Andrius Kubilius said. However, Latvian Prime Minister Valdis Dombrovskis canceled a planned visit to Lithuania on Friday, and held emergency talks on Krajbanka. He said that in a phone conversation with Kubilius he had "expressed regret that Lithuania did not manage to stabilise Snoras. Clients in both countries will suffer." Latvia's banking watchdog said it was pushing for Krajbanka, the country's oldest bank, to be declared bankrupt. There were some 100 million lats in assets missing from Krajbanka, according to the country's Financial and Capital Market Commission (FKTK). The FKTK said on Friday it would launch payouts from the deposit insurance fund to Latvijas Krajbanka's depositors, through the state-owned Citadele Bank, starting on Tuesday.Lithuania55.173956, 23.89439Reutershttp://uk.reuters.com/article/2011/11/25/lithuania-snoras-latvia-idUKL5E7MP06620111125 Konversbank NationalisationLithuania

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2008-09-28Amsterdam, Netherlands52.373095, 4.893305Telegraphhttp://www.telegraph.co.uk/finance/financialcrisis/3100606/Financial-crisis-Benelux-bank-Fortis-nationalised-to-stop-collapse.htmlFortisGovernment of the Netherlands (Dutch assets including ABN AMRO)NationalisationNetherlands

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1905-06-30Portugal36.091091, -18.727655GovernmentNationalisationPortugal

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2010-04-15Portugal36.091091, -18.727655http://europa.eu/rapid/press-release_IP-10-972_en.htm?locale=enliquidationPortugal€450M

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2012-06-29Portugal36.091091, -18.727655http://www.bportugal.pt/en-US/OBancoeoEurosistema/ComunicadoseNotasdeInformacao/Pages/combp20120124.aspxEurozone bailout injectionPortugal€3 Billion

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2012-06-29Portugal36.091091, -18.727655http://www.bportugal.pt/en-US/OBancoeoEurosistema/ComunicadoseNotasdeInformacao/Pages/combp20120124.aspxEurozone bailout injectionPortugal€1.5 Billion

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2012-06-29Portugal36.091091, -18.727655http://www.bportugal.pt/en-US/OBancoeoEurosistema/ComunicadoseNotasdeInformacao/Pages/combp20120124.aspxEurozone bailout injectionPortugal€900 Million + €750 Million in stock

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2011-11-21Spain35.712709, -6.916455http://www.bde.es/f/webbde/GAP/Secciones/SalaPrensa/InformacionInteres/ReestructuracionSectorFinanciero/Ficheros/en/frob25062012e.pdfFROBSpain

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2012-07-16The situation of Spain's troubled financial sector is well-documented; however, news of a Spanish bank being liquidated has virtually gone unnoticed by the international press. CAM, short for Caja de Ahorros del Mediterraneo, will officially enter a liquidation process following a general assembly meeting held last Monday. In reality, the entity's core banking business was acquired by Banco Sabadell, meaning that only remnants of the business, mostly social programs, are being liquidated. (Let's call it a partial liquidation of a Spanish 'caja'.) The main concern, however, is that bank customers are suffering losses as a result of the bank's failure, and that is something that should not be taken lightly. At CAM's general assembly meeting, members voted against the FROB's (Spain's Fund for Orderly Bank Restructuring) proposal to amortize outstanding non-voting shares ('cuotas participativas') to zero, claiming that the move would be detrimental to thousands of customers. Alicante, Spain38.344085, -0.480474http://uk.finance.yahoo.com/news/partial-spanish-bank-liquidation-passes-083514695.htmlBanco Sabadell Spain

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2009-03-29The Spanish government has launched a €9bn (£8.4bn) bailout to rescue the first financial institution that is on the brink of collapse since the beginning of the credit crunch. Savings bank Caja Castilla La Mancha (CCM) had "liquidity problems" that forced the intervention from the Bank of Spain, Finance Minister Pedro Solbes said. The action was an "isolated incident" among the country's financial sector, he said. The country's Treasury will provide guarantees whilst CCM continues to function normally, he said. The central bank's move is Spain's first intervention in a financial institution since 1993.Cuenca, Spain40.072025, -2.136304The Guardianhttp://www.guardian.co.uk/business/2009/mar/29/spanish-central-bank-rescues-caja-castilla-la-manchaBanco de EspañaSpain

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2010-05-24Cajasur was taken over by Spanish authorities on Saturday after talks to merge it with a profitable bank ended. Cajasur ran into trouble due to its exposure to the Spanish housing market. Like many of the 45 savings banks operating in Spain, Cajasur invested heavily in the property sector, causing a boom in construction before its collapse following the financial crisis. But the market's collapse has now left lenders with debts worth 445bn euros, according to Goldman Sachs. The Bank of Spain has taken over the running of Cajasur, giving it access to 550m euros (£474m; $686m) of emergency funding.Córdoba, Spain37.87794, -4.778403BBChttp://www.bbc.co.uk/news/10145716Banco de EspañaSpain

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1905-07-01Stockholm, Sweden59.33228, 18.06284Finansinspektionen (Swedish Financial Regulator)5 billion SEK. 0,58 billion EURhttp://www.alandsbanken.fi/info/opencms/Finland/sv/om_alandsbanken/senaste_nytt/borsmeddelanden/external_article.html?d=381149Kaupthing BankSwedish RiksbankAfter failure of Kaupthing Bank Iceland, Swedish Riksbank held on to Kaupthing Sweden until it was sold to Finnish Ålandsbanken, which paid back emergency loans to Swedish Riksbank.Iceland

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2008-10-08High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/1cb5d40e-953b-11dd-aedd-000077b07658.html#ixzz2GvO2qsrj Part of Kaupthing’s UK operations were placed in administration on Wednesday as the last big Icelandic bank teetered on the verge of collapse, forcing clients such as financier Robert Tchenguiz to sell positions. Alistair Darling, the UK chancellor, placed Kaupthing Singer & Friedlander Ltd in administration as the bank attempted to sell assets and loans around the world to stay in business. In a statement, the Treasury said it was taking the action “to protect the retail depositors . . . [and] ensure the stability of the UK financial system”.London, UK51.506325, -0.127144Financial Timeshttp://www.ft.com/intl/cms/s/0/1cb5d40e-953b-11dd-aedd-000077b07658.html#axzz2GqUo6GzkKaupting BankIceland

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2008-10-08UK55.00839, -5.822485LandsbankiING DirectGIceland

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2008-10-08UK55.00839, -5.822485Kaupthing Singer & FriedlanderING DirectHIceland

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2008-10-09UK55.00839, -5.822485LandsbankiHer Majesty's TreasuryIceland

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2008-02-22http://upload.wikimedia.org/wikipedia/commons/b/b4/Northern_Rock_Queue.jpgUK55.00839, -5.822485Government of the United KingdomUK

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2008-06-07UK55.00839, -5.822485BBChttp://news.bbc.co.uk/1/hi/business/7806023.stmChelsea Building SocietyUK

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2008-07-14UK55.00839, -5.822485Grupo SantanderUK

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2008-09-08UK55.00839, -5.822485Nationwide Building SocietyUK

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2008-09-08UK55.00839, -5.822485FSAhttp://www.fsa.gov.uk/library/communication/pr/2008/145.shtmlNationwide Building SocietyUK

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2008-09-18UK55.00839, -5.822485Lloyds TSBUK

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2008-09-28UK55.00839, -5.822485FSAhttp://www.fsa.gov.uk/library/communication/statements/2008/bradford_bingley.shtmlGovernment of the United Kingdom (Mortgage Assets)UK

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2008-10-22UK55.00839, -5.822485BBChttp://news.bbc.co.uk/1/hi/business/7806023.stmYorkshire Building SocietyUK

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2008-11-04UK55.00839, -5.822485BBChttp://news.bbc.co.uk/1/hi/business/7706876.stmSkipton Building SocietyUK

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2009-03-09UK55.00839, -5.822485FSAhttp://www.fsa.gov.uk/consumerinformation/firmnews/2009/dunfermline_b_society.shtmlBank of England (social housing loans); transfered to Nationwide Building SocietyUK

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2010-02-24UK55.00839, -5.822485Skipton Building SocietyUK

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2008-10-13London, UK51.506325, -0.127144Government of the United KingdomPartly nationalisedUK

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2008-10-13UK55.00839, -5.822485Government of the United KingdomPartly nationalisedUK

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2008-10-13UK55.00839, -5.822485Government of the United KingdomPartly nationalisedUK

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2008-12-01UK55.00839, -5.822485FSAhttp://www.fsa.gov.uk/library/communication/statements/2008/lsb.shtmlAdministrationUK

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1905-06-30UK55.00839, -5.822485http://www.presbyterianmutualsociety.co.uk/AdministrationUK

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1905-07-02UK55.00839, -5.822485BBChttp://news.bbc.co.uk/1/hi/business/8583054.stmCoventry Building SocietyUK

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2009-12-02UK55.00839, -5.822485BBChttp://news.bbc.co.uk/1/hi/business/8390203.stmYorkshire Building SocietyUK

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2012-06-12Italy41.29254, 12.573465http://www.gazzettaufficiale.biz/atti/2012/20120008/12A00056.htmExtraordinary AdministrationItalyYes

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2012-05-28Greece’s four largest banks received a €18bn transfer on Monday as the first instalment of a recapitalisation plan agreed as part of the country’s second bailout by the EU and the International Monetary Fund... “The banks have the money as of this afternoon”, said an official at the Hellenic Financial Stability Fund, a vehicle set up by the EU and IMF to handle the recapitalisations. The fund received €25bn from the EFSF to strengthen Greek banks more than two weeks ago but its disbursement was delayed by a legal dispute between the government and lenders over future control of the sector. The remaining €7bn would serve as a capital buffer, a fund official said. The four banks are now expected to regain access to the ECB’s liquidity operations, using the bonds as collateral for funding at cheaper rates than under the emergency liquidity arrangement... National Bank of Greece, the country’s biggest lender, received €7.3bn of funding followed by Piraeus Bank with €4.7bn. Eurobank EFG took €3.97bn and Alpha Bank €1.9bn, according to the HFSF.Athens, Greece37.97605, 23.73718Financial Timeshttp://www.ft.com/cms/s/0/862b44a6-a8eb-11e1-b085-00144feabdc0.html#axzz2DEdKI8qVGreece€1.9-billionYes

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2012-11-02Denmark’s financial watchdog defended its failure to prevent alleged accounting fraud at the nation’s latest bank insolvency after lawmakers called for a probe into the regulator’s practices. Toender Bank A/S, which declared bankruptcy on Nov. 2 after an inspection by the Financial Supervisory Authority revealed impairments big enough to wipe out the regional lender’s equity, was guilty of a “massive misrepresentation” of its financial health that more rigorous scrutiny wouldn’t have uncovered earlier, FSA Director General Ulrik Noedgaard said.Toender, DK54.93644, 8.86897Businessweekhttp://www.businessweek.com/news/2012-11-06/deceit-behind-danish-bank-failure-impossible-to-catch-fsa-saysSydbankMerger directed by Financial RegulatorDK

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2012-05-09Spain said it would take over Bankia (BKIA) SA and may inject public funds into the banking group with the most Spanish real estate as the government prepares the fourth attempt to overhaul the financial system. Spain’s bank bailout fund will convert its 4.5 billion euros ($5.8 billion) of preferred shares in Bankia’s parent, Banco Financiero y de Ahorros, into voting shares, the Economy Ministry said in a statement yesterday. That will give it a controlling stake of 45 percent in Bankia, the ministry said, adding the government will provide the capital that’s “strictly necessary” to clean up the lender.Madrid, Spain40.4203, -3.705774Bloomberghttp://www.bloomberg.com/news/2012-05-09/spain-takes-over-bankia-readies-second-bailout-after-rato-quits.htmlBankiaGovernment injection of 4.5 billion euros in capital acquiring a share of 45 % of the bankPartly nationalised (45 % ownership)Spain

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2012-11-01One of Britain's biggest credit unions has gone bust, taking the number that have collapsed so far in 2012 to at least six and dealing a blow to attempts by the government and others to promote the sector as a viable alternative to banks and costly payday lenders. North Yorkshire Credit Union was declared "in default" on 1 November and has been placed in liquidation; however, its 5,000 saver members have been told that their money is safe. They will get their cash back via the official Financial Services Compensation Scheme (FSCS) within the next seven days. The credit union's demise has been blamed partly on high levels of bad debts on loans to members, plus "inadequate credit referencing and credit control". It is the sixth credit union to go under in 2012, and follows at least seven that collapsed in 2011. Others that have gone bust in recent months include Tamworth Credit Union in September, the Liverpool-based Waltonian Credit Union in August, and Pallister Credit Union in Middlesbrough in May.York, UK53.953339, -1.083427The Guardianhttp://www.guardian.co.uk/money/2012/nov/02/north-yorkshire-credit-union-collapseUK

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2012-09-21UK55.00839, -5.822485http://www.fscs.org.uk/news/2012/september/youre-protected-fscs-t-yf1ufy113/index.htmlUK

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2012-08-09Liverpool, UK53.409773, -2.978481http://www.fscs.org.uk/news/2012/august/youre-protected-fscs-t-kdgvg311h/index.htmlUK

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2012-05-01Middlesbrough, UK54.573055, -1.237634http://www.fscs.org.uk/news/2012/may/pallister-credit-union-ltd-update/UK

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2012-01-16UK55.00839, -5.822485http://www.fscs.org.uk/news/2012/january/speedy-fscs-payout-to-members-o-uwunw3wh/index.htmlUK

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2011-05-06UK55.00839, -5.822485http://www.fscs.org.uk/news/2011/may/update-for-members-of-southend-00xkkuqv/index.htmlUK

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2012-06-23UK55.00839, -5.822485http://www.fscs.org.uk/news/2011/june/members-of-worcestershire-credi-g7w8aqr4/index.htmlUK

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2011-07-08UK55.00839, -5.822485http://www.fscs.org.uk/news/2011/july/speedy-fscs-payout-to-members-o-1ggmsask/index.htmlUK

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2011-09-06UK55.00839, -5.822485http://www.fscs.org.uk/news/2011/september/members-of-gallowhill-credit-un-9xp459t0/index.htmlUK

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2011-03-30UK55.00839, -5.822485http://www.fscs.org.uk/news/2011/april/members-of-ilfracombe-and-distr-114mt1qm/index.htmlUK

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UK55.00839, -5.822485http://www.fscs.org.uk/news/2011/april/keydata-claimants-who-invested-cwcn7fqe/index.htmlUK

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2011-01-26UK55.00839, -5.822485http://www.fscs.org.uk/news/2011/january/fscs-steps-in-to-protect-member-0dwbdqn3/index.htmlUK

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2011-01-06UK55.00839, -5.822485http://www.fscs.org.uk/what-we-cover/questions-and-answers/qas-about-havant-area-save-h326eanw/UK

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2012-01-05UK55.00839, -5.822485http://www.fscs.org.uk/news/2012/january/speedy-fscs-payout-to-members-o-nfxsquvv/index.htmlUK

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UK55.00839, -5.822485http://www.fscs.org.uk/news/2011/july/speedy-fscs-payout-to-members-o-85h3rvrg/index.htmlUK
[1] Controlled Adminstration is terminated and now the bank is up and running again here the official source