Credit Event

Bankia, S.A.

Event Publicly Available Information:

A determination is being sought as to whether the announcements and resolutions of the Governing Committee of the Fund for Orderly Bank Restructuring (FROB) dated 16 April 2013 and published in the Spanish Official Gazette on 18 April 2013 and on the websites of the FROB and Bankia, S.A. resolving actions for the management of hybrid instruments and subordinated debt of  Bankia, S.A. and Banco Financiero y de Ahorros, S.A. constitute a Restructuring Credit Event with respect to Bankia, S.A. within the meaning of Section 4.7 of the Credit Derivatives Definitions.
FROB Resolutions dated 16 April 2013
FROB Resolutions - English translation


Auction Timeline

Common Event Determination Date: April 24, 2013

Auction Date: June 5, 2013

Auction Settlement Date: June 12, 2013

Deliverable Obligations


The Exercise Cut-off Date for a Seller wishing to deliver a Credit Event Notice is Wednesday 22 May 2013. 

The Exercise Cut-off Date for a Buyer wishing to deliver a Credit Event Notice is Tuesday 28 May 2013.

The Auction Date is 5 June 2013.

Maturity Buckets


Auction Settlement Terms

Bankia_SA_Auction_Settlement_Terms / Blackline_Auction_Settlement_Terms_against_SNS_Bank_Auction_Settlement_Terms_dated_20/03/2013

Deriv/SERV Bankia, S.A. Triggered Transactions Data


List of Participating Bidders