“Slovenia liquidated two of its smaller banks, Probanka d.d. and Factor Banka d.d., in a move described by Central Bank Governor Bostjan Jazbec as a preemptive action to avoid the fate of Cyprus.  The cost of liquidation of Probanka and Factor Banka will be borne first by owners, followed by holders of subordinated debt, Finance Minister Uros Cufer said at the joint press conference with Jazbec yesterday.  Even so, Slovenia will issue state guarantees of 490 million euros for Probanka and 540 million euros for Factor Banka ‘that will ensure an unhindered liquidity and normal fulfillment of obligations of both banks to ordinary creditors,’ Banka Slovenije said in an e-mailed statement.”

http://www.bloomberg.com/news/2013-09-06/slovenia-liquidates-two-banks-to-stave-off-cyprus-fate.html

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