Spain’s Frob gets extra funding ahead of further bailouts

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The Spanish Treasury on September 12 increased the endowment of the Fund for Orderly Bank Restructuring (Frob) by €6 billion ($7.7 billion), as the Fund prepared to implement further bailouts.

The additional funding will bring the Frob's total funding to €15 billion, in addition to an initial €30 billion agreed upon by European leaders in July and drawn from the European Financial Stability Facility. "As a result, the Frob now has greater financial capacity to achieve its purposes," a statement

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