Guarantees
In the sale process of recapitalised institutions under Law 9/2012, guarantees were granted with the aim of minimizing the use of public resources in a situation of different perception of the risk/cost of certain contingencies between buyer and seller. Two types of guarantees granted by FROB to buyers can be distinguished: the Asset Protection Schemes (APS) in which FROB covers the losses on a specific asset portfolio, and guarantees that covered very different contingencies (possible liabilities that might arise from lawsuits for mis-selling of hybrid instruments, floor clauses, interest-rate hedge agreements, etc)
(*) These amounts include, in million euros, the guarantees as of 31st July 2024, all already settle as well as the estimated cost of those that are still in force.
As of 12/31/2022, the EPA of Banco de Valencia has expired and being settled. Guarantees for certain concepts of CX and NCG are still active.