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Bankia to be recapitalised through FROB bank fund-De Guindos
May 30, 2012 / 9:43 AM / 5 years ago

Bankia to be recapitalised through FROB bank fund-De Guindos

MADRID, May 30 (Reuters) - Nationalised lender Bankia will be recapitalised through the FROB bank fund, which will issue bonds, Spain’s Economy Minister Luis De Guindos said on Wednesday.

“It will be the usual mechanism, through the FROB issuances”, De Guindos told journalists after a parliamentary debate on Spain’s ongoing banking reforn.

The FROB currently has more than four billion euros available while Bankia asked on Friday for a 19 billion euros rescue from the state.

He also said the country’s banking crisis does not begin and and end with Bankia.

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