Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Spain bank restructuring fund to issue more debt

Source: Reuters - Thu 2th Dec 2010

Spain's bank restructuring fund, set up to oversee the merger of the country's savings banks, is to raise a further two billion euros on capital markets in coming months, the Financial Times reported on Thursday.

The Bank of Spain, which is in charge of the fund - dubbed FROB under its Spanish initials - was not available to comment on the FT's online report, which cited bankers.

The central bank has overseen a restructuring of the sector, more than halving the number of savings banks, called cajas, from 45 at a cost of around 11.2 billion euros from a fund that can be extended up to 99 billion euros.

Earlier the central bank said that the consolidation of savings banks was progressing at an appropriate pace and that banks would function as merged entities from Jan. 1.

Comment on this Story

Be the first to comment on this Story !!

Related Partners

Recommended Items

Related Articles

Related Blogs