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DXBGY vs. ETF Alternatives
Dexia is a European banking group which, in 2011, carried out its activities principally in Belgium, Luxembourg, France and Turkey in the fields of retail and commercial banking, public and wholesale banking, asset management and investor services.
Thursday, Feb 92012, 8:40 AMFrance's government and state bank CDC reach a deal on the restructuring of the the French municipal lending ops of troubled Dexia (DXBGY.PK), with both to take on around 32% each. The agreement is part of an attempt to fill a potential funding gap for French towns, cities and other public entities. |Thursday, Feb 92012, 8:40 AM| Comment!
Monday, Dec 52011, 8:30 AMDexia shares pop 8% in Brussels after the bailed-out lender gets state guarantees from Belgium, France, and Luxembourg that should cover €45B in needed financing through 2012 H1. The bank will pay the states a €225M fee and provide collateral for at least some of the guarantees. |Monday, Dec 52011, 8:30 AM| Comment!
Thursday, Nov 242011, 5:53 AMWith Belgium trying to renegotiate Dexia's (DXBGY.PK) €90B ($120.16B) rescue deal, the bank is accessing emergency liquidity facilities in France, Spain, Italy, and its home country, Reuters reports. Dexia will attempt to tap the markets again once the bailout is finalized. |Thursday, Nov 242011, 5:53 AM| 2 Comments
Thursday, Oct 272011, 4:08 AM
Monday, Oct 102011, 9:34 AMDexia Chairman Jean-Luc Dehaene resigns from the board of the now-nationalized Belgian bank division, but remains Chair of the parent company. Dehaene is also a MEP and a former Belgian PM, which helps explain Dexia's issues - it is essentially the financing arm of the government. |Monday, Oct 102011, 9:34 AM| Comment!
Monday, Oct 102011, 9:11 AMDexia shares resume trading in Belgium, -30% from the level they were at when suspended last Thursday. The lender's Belgian banking business was nationalized last night and the liabilities of the remainder of the company guaranteed by Belgium, France, and Luxembourg. |Monday, Oct 102011, 9:11 AM| Comment!
Tuesday, Oct 42011, 3:49 PMThe WSJ reports flailing Dexia (DXBGY.PK) will set up a bad bank to park €180B of assets, part of a larger plan that looks to essentially dismantle the lender ($2B market cap). France and Belgium will initially back the bad bank with guarantees, looking to eventually take over its ownership. (see also) |Tuesday, Oct 42011, 3:49 PM| 4 Comments
Tuesday, Oct 42011, 12:37 PMDexia "has a problem of liquidity, not solvency," reminds James Mackintosh of Chris Cox on Bear Stearns: Its failure was due to "a lack of confidence, not a lack of capital." If Dexia is Bear, who is playing Lehman this time around - "a French bank, or perhaps Greece itself?" |Tuesday, Oct 42011, 12:37 PM| 1 Comment
Tuesday, Oct 42011, 10:59 AMAnother line from the National Bank of Belgium statement hints that the central bank has seen the inklings of a run on Dexia: "The NBB emphasize(s) that the savings of the clients of Dexia (are) perfectly safe and (there is) no reason to take away their assets." |Tuesday, Oct 42011, 10:59 AM| 5 Comments
Tuesday, Oct 42011, 10:50 AMStocks are bouncing fast both here and across the pond. The National Bank of Belgium just hit the wires saying the central banks of Belgium and France will fully support Dexia, but did anybody believe anything different? Stoxx 50 2% off the lows, -1.9%. Nasdaq turns green. |Tuesday, Oct 42011, 10:50 AM| Comment!
Tuesday, Oct 42011, 8:10 AMDexia shares continue to rally following the announcement of government support. Off as much as 38% in early trade, shares are now down just 13.5%. The news may be decent for the bank, but for France a different story - exactly where are those billions of support going to come from? CAC 40 -3.5%. |Tuesday, Oct 42011, 8:10 AM| Comment!
Tuesday, Oct 42011, 6:24 AM
Tuesday, Oct 42011, 5:23 AMFrench and Belgian FMs pledge to guarantee financing raised by teetering Dexia (DXBGY.PK) and will intervene if necessary to protect account holders and creditors. Dexia needs about €5B to achieve its required 9% Tier I ratio. Shares fell as much as 32% to an all time low, and are down 59% since June. (PR) |Tuesday, Oct 42011, 5:23 AM| Comment!