1. The FROB will receive the funds from the Eurogroup and channel them to the financial institutions concerned in Spain

    published on Monday, July 23, 2012 under Economic & Financial Affairs

    The Eurogroup decided on 20 of July to grant financial assistance for the recapitalisation of financial institutions in Spain. The financial assistance will be accompanied by policy conditionality focussing on the financial sector, and the Spanish government will retain the full responsibility of the financial assistance.

    Ministers unanimously decided last 20 of July to grant financial assistance for the recapitalisation of financial institutions in response to the Spanish authorities' request on 25 June 2012. The Eurogroup agreed that the Fund for Orderly Bank Restructuring (F.R.O.B.), acting as agent of the Spanish government, will receive the funds and channel them to the financial institutions concerned. The Spanish government will be responsible of the financial assistance.

    The Eurogroup decided to grant the financial assistance accompanied it by policy conditionality focussing on the financial sector. This conditionality consists of bank-specific measures, including in-depth bank restructuring plans in line with EU State aid rules and sector-wide structural reforms that embrace segregation of bank's problematic assets, and the governance, regulation and supervision of the banking sector.

    The financial assistance will be provided by the EFSF until the ESM becomes available, then it will be transferred to the ESM, without gaining seniority status. It will cover financing needs of up to €100 billion. Moreover, the EFSF will set aside €30 billion at the start of the financial assistance, which can be used in case of urgent unexpected financing needs. The loans to be used for bank recapitalisation will have an average maturity of up to 12.5 years, with any individual disbursement having a maximum maturity of up to 15 years.

Sponsored links

Current news from the European Union: Events, EU Law and EU Institutions activities

  • Go
  • Store

10ders Alerts

Provides SMEs with the most relevant information on public sector contracts. Now you can subscribe to our Tenders Alerts on Government contracts for only 192€/year.

Do not miss opportunities that your competitors might be following. Try it out for FREE during 7 days or if you'd like to know more please phone us:
+32 2 318 03 01

You will receive only relevant tenders to your product or service in the EU country you choose. Want to know more about Tenders Alerts?

Euroalert.net Sponsors

  1. Proyecto WEST-MoS
  2. Gateway S.C.S.

If you want to become a Euroalert.net sponsor email us at ads@euroalert.net.

Euroalert.net in your website

Do you want to display Euroalert.net contents on your organisation's website?

Register at Condelway to get our free EU News widget and our free EU Calls for Proposals widget.

We have subscription options from 30€/month to use Euroalert.net web services technology

Euroalert.net on Twitter

Euroalert.net by email

Every week you can receive a summary of EU information from Euroalert.net by email

Sponsored links

10ders Product Report

10ders Observatory brings you for only 35€ your customized Product Report with all this useful information:

  • How many contracts and for what value are awarded every year
  • The list of the companies wining the contracts
  • Authorities that are purchasing your product
  • The list of announced and awarded contracts

You are the one who knows the best how to analyse and get the most from this information, and 10ders Observatory can provide you the data big companies are using. Aren't you Trying?

Specially tailored to your product or service in the EU country you choose. Want to know more about Product Reports?

Sponsored links