Catalan Referendum: Shorting Banco Sabadell

• Catalonia's Banks Prepare to Flee

The two biggest banks in Catalonia are preparing to move their headquarters to other parts of Spain in order to avoid being cut off from ECB funding. Spanish media reported that Banco de Sabadell will hold a board meeting Thursday to approve a formal relocation to Alicante, while Caixabank (Spain's third-largest), is reported to be moving to the Balearic Islands. The gulf between the rhetoric of the Spanish and Catalan governments remains as wide as ever, with one side vowing to impose the rule of law, while the other continues to insist on a unilateral declaration of independence. Fortune
 
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