章節 1508: Chapter 1508: Drain the funding pool
'Delay!'
'You must do everything you can to delay it. You must not pay until the deadline has passed. Even if you do pay, you must pay in small instalments...'
'Bang!'
Saren Francisco gave a death order to Brooke Gascoigne on the other end of the phone, almost shouting.
He then hung up the phone, and his palm hit the desk with a loud thud.
The tingling sensation in his palm only added to his irritation.
But he knew that procrastinating was just a way of postponing the inevitable.
The crisis would not go away, whether or not he paid.
The impact had been amplified!
The credibility of Banco Bilbao Vizcaya had been pushed to the brink.
He must now ensure that the bank did not suffer a credibility crisis, or it would be finished!
Of course, he also has to prepare for the worst and minimise losses if a crisis does occur...
Financial industry professionals in South America are all focusing their attention on the South American regional headquarters of Banco Bilbao Vizcaya.
A large number of journalists have also gathered like sharks smelling blood, and several times their microphones have almost been shoved into the mouth of Brook Gascoigne, leaving him exhausted.
Francisco Salán also urgently mobilised the entire bank to update the liquidity of branches worldwide in order to get an overview of the situation.
Due to the time difference, the statistics took nearly seven hours.
And the results of the statistics really scared Francisco Salán.
The bank's total liquidity, converted into US dollars, is only about 5.756 billion US dollars.
The reason why it is so low
because more well-informed companies have already heard the news and transferred some of their funds to ensure the safety of their capital.
As a result, the funds of BBVA's banks in other regions have also lost a lot.
With this amount of liquidity, it is already less than 10% of the bank's total assets!
This is very dangerous for a top global commercial bank.
Only four people, including Saren Francisco, know this data, and he has warned his subordinates one by one that the information must be kept strictly confidential.
Once it is exposed, the consequences will be unimaginable.
Not to mention.
He could well imagine that there were entrepreneurs around the world who knew about the news and were on their way to the local bank to withdraw their money.
The deposits in the Banco Bilbao Vizcaya Argentaria must continue to decline.
And at this time.
The news about the massive loss of funds in the Banco Bilbao Vizcaya Argentaria and the run on the bank by major customers finally spread widely.
CNN: The mismanagement of Spain's largest bank, Banco Bilbao Vizcaya Argentaria, has triggered a crisis of confidence among depositors. According to an internal employee of the bank, depositors withdrew more than 8 billion US dollars in a few days... Coca-Cola is facing problems withdrawing its funds, and Coca-Cola CEO Donald Roberts has issued a warning to Banco Bilbao Vizcaya Argentaria, claiming that if withdrawals cannot be made normally, legal proceedings will be initiated...
British Clyde Broadcasting Corporation: Breaking news, the Bilbao Vizcaya Bank in Bilbao, Spain, has been the first to trigger a tide of runs, with a massive loss of funds and a depletion of liquidity imminent...
Island nation NTV TV station: A crisis of confidence has broken out among large depositors at the Bilbao Vizcaya Bank in Spain, and a number of international companies are facing difficulties withdrawing their funds. The heads of state of many South American countries have expressed their concerns...
Global TV: The massive misappropriation of temporary deposits from depositors by the Spanish Bilbao Vizcaya Bank has triggered a crisis of confidence among depositors. The bank's liquidity is below 10%, and if not handled properly, it is extremely likely to fall into the vortex of bankruptcy...
Under Xia Yu's manipulation, the negative news about the Spanish Bilbao Vizcaya Bank was overwhelming, covering almost the entire world, with the exception of some economically underdeveloped regions.
Every capitalist country, especially those with branches and more extensive operations of the Banco Bilbao Vizcaya, was the focus of propaganda.
The aim was to discredit the Banco Bilbao Vizcaya.
Xia Yu's goal was indeed achieved.
The adverse impact was reflected in the Spanish stock market.
The share price of the Banco Bilbao Vizcaya plummeted 15 points in half a day!
Under its influence, the entire banking stock plummeted, and the entire stock market fell more than 3 points!
This shows just how deep the influence of BBVA on Spain really is!
However, this was a scene that neither the Spanish government nor the shareholders wanted to see, but it was exactly what Xia Yu hoped to see.
Taking advantage of the panic in the market, the Xia Yu consortium team took the opportunity to acquire some of the target company's shares.
Under various pressures,
Francisco Salen had to stand up to the press and hold a press conference to deal with the difficult questions from the media.
However, no matter what the journalists asked, he insisted that the finances of BBVA were very healthy, there was no shortage of funds, and that the deposits of companies such as Coca-Cola would soon be withdrawn.
Although BBVA was being maliciously attacked, with their bank's strength, they were not afraid of the enemy's attacks, and they asked all investors and customers to rest assured.
He also said firmly that he would sue the media outlets that had published the malicious reports, and that he had already instructed the legal department to handle the matter.
When facing the media, Saren Francisco always appeared calm and firm.
But when he returned to the office, he could no longer hold back, and like a lion with its fur standing on end, he raged at the staff.
'What's the situation with interbank lending, with depositors withdrawing their money, and with the social survey...?'
'Report the latest situation immediately!'
'Chairman, according to the statistics from each branch, there are serious barriers to interbank lending. No other banks will lend to us, and they are asking us to repay the original loans, and are even willing to waive the agreed interest...'
'Chairman, there are runs on banks all over the world. Many branches have reported that the lines of people waiting to withdraw their money are a kilometre long. Many branches do not have enough funds in reserve and have had to suspend operations...'
'According to the type of depositor, the number of withdrawals by individual depositors accounts for 98.62%, but according to the type of funds, the amount of withdrawals by corporate depositors accounts for as much as 84.34%... According to the latest data, our liquidity reserves have fallen to 4.63617 billion US dollars!'
'Chairman, according to social surveys, more than 80% of Spaniards are worried about the financial situation of our bank, and less than 10% still have confidence in us. More than half of our depositors say they are ready to withdraw their deposits at any time.'
'And the statistics from the surveys abroad show that our situation is very bad, especially in the United States and South America. The survey results in the United States show that no one believes our bank is healthy until the large deposits of American companies are returned. In South America, more than 95% of the respondents expressed pessimism about our bank, and more than 80% of the respondents said that if they had a deposit, they would definitely withdraw it...'
'...'
As his subordinates reported one after the other, Sarón Francisco's face grew increasingly gloomy, and his breathing became more and more rapid.
He had never imagined that the situation would be even worse than he had expected.
In just half a day, the liquidity had actually dropped by more than 1.1 billion US dollars!
According to the process of scheduled withdrawals, it showed that many of these withdrawn funds had been scheduled yesterday, and the rest were small deposits from retail investors that did not require a reservation.
If he had not imposed restrictions,
He was sure that the outflow of funds could easily double!
Finally, he looked at the representative of the think tank on the far right.
He asked in a deep voice, 'Regarding the large deposits of 2.04 billion US dollars from 14 companies led by Coca-Cola, according to the scheduled time, 24 hours have now passed, and only 136 million US dollars have been cashed. What is the think tank's opinion on the remaining funds?'
The representative immediately reported: 'Chairman, based on the results of our analysis combined with the social survey, we conclude that all the funds of these companies should be returned immediately, especially the deposits of Coca-Cola.'
'Coca-Cola is so well-known all over the world, and the amount of money deposited is huge. Our enemies will focus on this point to create negative publicity, and we can't escape it. If we don't return the money, no matter what we say, we won't be able to convince other depositors!'
'As for the other 13 companies, although they are not as well-known globally as Coca-Cola, they are not necessarily less well-known in South America. Our bank's assets in South America are worth more than 20 billion US dollars, and this involves too many depositors, and they are all watching!'
'Although we have returned 136 million US dollars to these companies, it has instead convinced some people that there is something wrong with our funds. We must immediately return the accumulated 2.04 billion US dollars in deposits to these companies before negative publicity continues to spread.'
'As long as these major companies do not take the lead in causing trouble, we can still find a way to control some of the other small and medium-sized companies.'
Saren Francisco was torn between two conflicting emotions. On the one hand, he was concerned about the immediate risk of the company's liquidity falling below 3 billion US dollars after the return of the funds. On the other hand, he was worried about the uncontrollable impact of delaying the return.
After a few seconds of internal struggle, he finally nodded with a grimace and said, 'Fine, immediately return the remaining 1.9 billion US dollars of deposits to these 14 companies!'
'Immediately hold another press conference after the return, and make sure to use all means to spread the news globally to counteract the negative publicity!'
'Other departments, immediately dispose of assets and return funds!'
'Yes!'
...
It wasn't long before
the news that all deposits from the 14 companies, led by Coca-Cola, had been withdrawn, reached Xia Yuer.
This surprised Xia Yuer a little, and he couldn't help but feel that Sarun Francisco wasn't that stupid after all, and there were still smart people under him who dared to speak frankly.
Although it is never too late to mend, BBVA can still survive this crisis.
But Xia Yu didn't care, because his original goal was bound to be achieved, and the subsequent negative impact would be enough to drain BBVA's capital pool.
Just wait two more days, and the full-scale attack on the Francisco family can begin!
'Two days...haha...'
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