Instruction to branch directors to avoid litigation with proposals to clients for substantial improvements in loan conditions the government pretends to be tough with the banks but will not force them to return the floor clauses luis de guindos Colombia Phone Number List and mariano rajoy. Luis de guindos and mariano rajoy. Updated: the arbitration that the government is going to approve for the banks to return the floor clauses will be more flexible than the one initially proposed, although it will be mandatory for the entities to obtain the support of the psoe. But the banks have decided to go one step ahead of the regulations and are closing the first out-of-court agreements. In principle, the government's intention was to establish a code of free accession, which if adopted would imply the nullity of all the floor clauses of the contracts. That is, the entities were going to have the imperative to review all contracts .
Now, as el confidencial digital has learned from financial sources familiar with the process, luis de guindos' position has become more flexible and, according to the latest proposal on the table, the banks will have the capacity to negotiate with those affected and discuss certain conditions. To try to reach an agreement. Officially, the banks are resisting as reported in ecd a week ago, the ceos of bbva, caixabank, popular and sabadell had informed de guindos, in recent days, that they were going to push their legal possibilities to the limit against the ruling of the court of justice of the eu because, they argued, “they owe it to their shareholders.” they argued that, in the event of a generalized return without a specific requirement, shareholders would be in a position to hold them accountable for not having defended their interests. They assure that only a judicial resolution issued on each case will allow them to justify this disbursement of money before the general meeting.
They have begun to close extrajudicial agreements but the reality in the branches has begun to be different in the last week. As admitted to ecd in several affected entities, office directors have been instructed to negotiate with clients to reach agreements that avoid a wave of judicial convictions , with the consequent reputational and image damage. In the banks they acknowledge that they have not yet recovered from the damage that the evictions or the preferential ones have caused them . With this shift in their strategy, the entities pursue three objectives: not to waste time and money (almost always the bank will be ordered to pay costs ), avoid the reputational damage of news about systematic judicial convictions and avoid a customer call effect. That they have not claimed yet. An alternative: reduce the mortgage payment according to the sources consulted, the first alternative offered to clients is to improve the conditions of the loan they have contracted, in exchange for keeping part of the extra money received through the floor clauses.