Spain’s Frob reveals first tranche of funding for Bankia

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The Spanish Fund for Orderly Bank Restructuring (Frob) on September 3 revealed the first tranche of bailout funds that are to be injected into the BFA-Bankia Group, the parent company of failed financial institution Bankia.

The Frob announced that it would provide an initial €4.5 billion ($5.7 billion) of funding to restore the Group's regulatory capital levels. The Frob said the injection was an advance on the overall programme of financial assistance, the total amount of which is to be decided

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