Spain sets up €50 billion rescue fund

Madrid on Tuesday said it would establish a rescue fund to buy high-quality assets from its banking industry, hampered by a downturn in the country's housing market and the global turmoil.

Jose Luis Rodriguez Zapatero, the Spanish prime minister, said that the aim of the rescue fund was to unblock Spanish credit markets and that it would be disbanded once markets normalise.

The authorities will inject €30 billion ($41 billion) into the fund initially, though this could be extended to €50 billion

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.