Daewoo Shipbuilding banks equity swap ... Earn additional provisions 600 000 000 000

[Korea Jeongseon financial newspaper reporters - Daewoo Shipbuilding & Marine Engineering for-equity swap by commercial banks also showed that exposure to additional allowances earned 600 billion won for us.

According banking on the 23rd of March, Shinhan, Kookmin one, we Daewoo Shipbuilding risk exposure of banks such as cooperatives solution (exposure) scale is over 2.6 trillion won. Advance refund to the owner the assurance that the financial institution guarantees given in advance when shipbuilders shipbuilding contracts (RG) is the most.

According to Daewoo Shipbuilding day it announced additional support measures, banks are being asked to switch to the credit of the majority shareholding of 80% of Daewoo Shipbuilding and unsecured bonds. The government has identified the scale of the unsecured debt of banks around 700 billion won Daewoo Shipbuilding. In other words, the target is about 580 billion won debt-for-equity swap.

The remaining 20% ​​of the unsecured debt is to extend the maturity. Roll over minutes are repaid after five years probation five years, the interest rate will be applied within the limit of 3% a year.

According to the aggregate financial authorities, the Bank for International Settlements (BIS) ratio of commercial banks to this support is expected to fall 0.01 ~ 0.24%. Commercial banks are to be observed during debt restructuring must build a 640 billion won in losses.

Commercial banks have already earned 360 billion won scale provision of a loan classified as critical for DSME. But even if there are no losses in the equity swap Shares of Daewoo Shipbuilding falls it will immediately generate a valuation.

Commercial banks have been reducing the credit limit for Daewoo Shipbuilding since October 2015. Financial authorities in different aggregates, August 12 trillion 4.6 trillion won a 1.8 trillion won nyeonsae reduced from 800 billion won (12 years, end 2016) is a 2015 level.

Financial Services Commission said, "We believe geumbeon impact on restructuring the banking sector is not so big."

In the case of national banks it was expected to 400 billion won during this promotion debt restructuring plan according to normalize the Export-Import Bank, Industrial Bank of 660 billion won to earn additional provisions required. Financial Services Commission said that 'for the Export-Import Bank recapitalization needs minutes, will address priority by government and industry, such as investment banks.

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