The "financial restructuring" that Keycorp says it is working on is taking time to sort out and so the company yesterday had to ask the Australian Securities Exchange to suspend its shares. The shares were already subject to a trading halt.The company said in its request to the ASX that it "expects to make an announcement on this issue, and to bring the suspension to a close, within the next 48 hours."No one's leaking what's on the mind of management and the board but the speculation, which is all it is, centres on an offer from one of the global integrators in the smart card applications business seeking to own at least a part of one of two key local suppliers and which may assist in the current round of tenders from Australia's Department of Human Services for the proposed "access card" that will be used to facilitate welfare payments.Some sort of private equity offer is a possibility.A third explanation is that Keycorp has hit financial difficulty. The company, like all ASX listed companies with a December 2006 half-year balance date, was due to file financial statements with the exchange by yesterday and it hasn't.