CatalunyaBanc and NCG Bank should avoid aggressive commercial practices during the restructuring process. Institutions must ensure that the nominal interest rate offered to its customers about its products should be less competitive than the average of the five main competitors without AIDS in the geographical area where it operates. The European auditor of the entity (monitoring trustee) will monitor to ensure that compliance. Although the Bankia restructuring plan is not public, it is normal to also include this limitation, in line with those imposed by the FROB institutions with aid.
Entities shall be subject to a series of prohibitions. They may not perform aggressive commercial practices or make acquisitions, and will have limited its remuneration policy. The ratio of credit against deposits will be 100% to 120% beginning in 2014. The Government should all go well and some of the banks have excess capital, undertakes to pay dividends, provided that this does not threaten their solvency.
In the case of NCG Bank, are a series of restrictions offices that are not Evo Bank. Unless it is contractually committed to it, will not give new credit except in very exceptional situations. It will also have restricted the restructuring and refinancing of credits. The offices will also have limitations to attracting of deposits and to offer other products. In the case of the EVO offices Bank, there will be similar constraints for restructuring and also for new credit in the offices in which the ratio between loans and deposits exceeding 100% - 120%, but there will be no trouble to take deposits or offer other products (cards, current accounts, payments...). The deadline for the sale of EVO is kept confidential. If a buyer is not achieved, NCG shall liquidate it and dismiss the template.
For the dismissals, both entities should try "allowances bring to the legal minimum, but with some flexibility to avoid delaying the process". In addition, if the results deviate significantly from the provisions of the restructuring plans, may be proposed reductions in overheads or staff.
It is essential that buyers of CatalunyaBanc and NCG Bank must be "entities that are legally and economically independent" of the Kingdom of Spain and the very institutions. The sale will be through a competitive auction process, but with such a clause is clear that Bankia may not be the buyer of the two companies. There has been speculation with the creation of a major public bank where the offers of other entities were not sufficiently attractive, but Brussels does not allow it.
The restructuring plan approved by Brussels puts into question the double seat in Vigo and A Coruña of NCG Bank. The entity must submit a long term plan to "rationalization in the long term from its headquarters", says the plan. "If NCG decides to keep its headquarters in two locations, the plan must demonstrate that this decision not additional suponecostes in comparison with the alternative of a single headquarters", adds.
Brussels wants each major operational banking is at a single venue, avoid duplication of costs and minimise NCG Bank real estate costs.
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