Spains cajas are struggling to meet Thursday's deadline for infusion of capital

Spain's ailing regional savings banks are scrambling to raise billions of euros of fresh funds to meet strict new capital requirements by a Thursday deadline.  That is when the savings banks, otherwise known as cajas, will have to either have new capital or ....   We still don't know what happens if they don't meet this deadline, they will probably either be forcibly absorbed by a larger bank or nationalized.  Via BB
The country's 17 savings banks, known as "cajas," are weighed down by loans that turned sour after the collapse of a housing bubble in 2008 and are at the heart of fears the country could need an Irish-style international rescue.

Last month the government approved stricter rules on the amount of rock-solid core capital that banks must hold on their balance sheets, seeking to shore up confidence in the battered economy.

Under the new rules, savings banks must raise the proportion of core capital they hold to 8.0 percent of total assets from the current six percent, or 10.0 percent if they are unlisted.

The Bank of Spain will determine Thursday which savings banks have met the new core capital requirements and in the case of those that have fallen short, how much capital they need to raise to meet the new requirements.

Up to 11 of Spain's 17 regional savings banks will need additional capital to reach the levels of solvency set by the government, the ratings agency Standard & Poor's said last month.

Current Capital Ratios at Banks and Cajas.  Problem cajas are highlighted in red.  Via Reuters:
Santander (SAN.MC) Core Cap: 8.5 Tier 1: 9.7
BBVA (BBVA.MC) Core Cap: 8.2 Tier 1: 9.2
Sabadell (SABE.MC) Core Cap: 7.84 Tier 1: 8.93
Popular (POP.MC) Core Cap: 8.66 Tier 1: 9.07
Pastor (PAS.MC) Core Cap: 8.35 Tier 1: 10.49
Banesto (BTO.MC) Core Cap: 8.31 Tier 1: 9.31
Banco Valencia (BVA.MC) Core Cap: 7.11 Tier 1: 7.91
Bankinter (BKT.MC) Core Cap: 6.76 Tier 1: 7.43

C. Insular Canaria Core Cap: 6.1 Tier 1: -
CAM Core Cap: 6.6 Tier 1: 9.3
Caja Madrid Core Cap: 7.15 Tier 1: 9.07
Bancaja Core Cap: 7.15 Tier 1: 8.03
UNNIM Core Cap: 8.0 Tier 1: 9.5
Cajastur + CCM Core Cap: 8.4 Tier 1:
BANCO MARE NOSTRUM Core Cap: 8.4 Tier 1: 11.1
Caja Rioja Core Cap: 8.53 Tier 1: 9.1
La Caixa Core Cap: 8.7 Tier 1: 9.9
IBERCAJA Core Cap: 9.37 Tier 1: 9.98
CAJA TRES Core Cap: 9.5 Tier 1: -
CAJA VITAL Core Cap: 12 -
KUTXA Core Cap: 12.5 -
UNICAJA Core Cap: 13.1 -


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