MADRID Feb 14 The Bank of Spain said on Tuesday
its staff had acted correctly in their oversight of Bankia
and its ill-fated stock market listing, after a court
said it would investigate several former officials at the
A casualty of Spain's real estate crash, state-controlled
Bankia had to be bailed out in 2012, less than a year after it
was floated, causing losses for many ordinary Spaniards.
Spain's High Court, which has been looking into who knew
what about Bankia's troubled state before it was listed, on
Monday said it was placing the central bank's former governor
Miguel Angel Fernandez Ordonez under investigation.
Fernandez Ordonez and five other former Bank of Spain
officials from the supervisory and inspection units will have to
testify, alongside two former senior managers at Spain's stock
market regulator, the CNMV.
Reuters has not been able to contact any of the individuals.
The Bank of Spain said in a statement that its board had
"full confidence" in the officials named in the court summons,
three of whom on Monday tendered their resignations, which were
officially accepted by the Bank of Spain on Tuesday
The central bank had "at all times complied with
regulations, the defence of financial stability and the public
interest," it added.
Bankia's 22.5 billion-euro ($24 billion) bailout pushed
Spain into requesting a European aid package for its ailing
banks at a height of a deep recession, making it a target of
protests and public anger.
The rescues are still politically sensitive. Opposition
parties, led by leftist alliance Unidos Podemos ("Together We
Can") called on Tuesday for a parliamentary commission to look
into how they were handled. The commission is likely to get the
green light in parliament next week.
Bankia's listing went ahead when the centre-left Socialists
were still in power, and it was their government that named
Fernandez Ordonez to the Bank of Spain.
Prime Minister Mariano Rajoy's conservative government dealt
with the Bankia fallout in 2012.
The High Court investigation has yet to go to trial.
Its ruling on Monday cited several Bank of Spain internal
emails from staff who raised doubts about Bankia's future before
it was listed - including one email where "the group is not
viable" was written in red capital letters.
($1 = 0.9468 euros)
(Reporting by Sarah White; Editing by Jesus Aguado and