FT Alphaville " The capital monster Starring A. Spanish banker as the Cookie Monster, and Mr Taxpayer as Ernie Cookie Monster feels HAPPY and SAD Cookie Monster: Oh, boy - cookie jar! Oh boy, full of cookies, me going to eat cookie, me going to be happy just to THINK of eating cookies! Oh boy oh.... Cookie jar EMPTY! No cookies. Oh, me so sad. [sniffles] Me SO [sniffles] sad! Bankia's failure to face reality brings back crisis - FT, May 7 2012 El auditor de BFA-Bankia encuentra un desfase patrimonial de 3.500 millones - El Pais, May 9 2012 Cookie Monster: WAIT. There one cookie left! Oh boy oh boy oh boy make me so happy, one cookie! Pauses But... if me eat one cookie... it last cookie. Better save cookie. Me know - me break cookie in half! Eat this part now - nom nom NOM nom nom - yah, and save this part here [ploink] for later. The board of directors of Banco Financiero y de Ahorros (BFA) has today informed the Banco de España of its decision not to buy back under the terms and conditions agreed the securities issued for a value of €4.47 billion which were subscribed by the FROB (Fund for the Orderly Restructuring of the Banking Sector) ... FT Alphaville note: The €4.47bn wasn't new money, but a conversion of previous state funds. Cookie Monster: ...Is it later yet? Oh boy oh boy, eat cookie Oh boy, me so happy now, me... OHHH NOOO! MADRID (Dow Jones) -Spanish bank Bankia SA (BKIA.MC) on Sunday said it will set aside 4.72 billion euros ($6.1 billion) to cover losses and meet new provisioning requirements... ...In a filing with Spain's financial regulator, Bankia said the provisioning efforts would reduce its capital ratios by 200 basis points, according to preliminary estimates. The bank didn't disclose additional details. Cookie Monster: Oh, me so SAD! Ernie: Erm, Cookie Monster? Cookie Monster: Oh, hi Ernie. [sniffles] Ernie: I brought you a bag of cookies... Spain's 10 year borrowing costs rose back over 6 per cent after the bank plan was unveiled, with analysts sceptical that the €15bn in new state money provided as loans to lenders unable to make the new provisions would be sufficient... The FT, May 11 2012 Cookie Monster: Oh me, me no... OH, ERNIE! Mwah! Mwah mwah mwah mwah MWAH!!! Oh boy, me so happy now, me got cookies. Oh boy oh boy. Oh boy, that so good, me so happy! All cookies GONE! Watch out, Ernie. Bail-in time, Ernie? You know, this cookie-eating: VERY emotionally draining. Cookie Monster Related link: Spain borrowing costs at euro-area high - FT This entry was posted by Joseph Cotterill on Monday, May 14th, 2012 at 13:04 and is filed under Capital markets. Tagged with Cookie monster, eurozone, recapitalisation, Spain, spanish banks.