Fondo de Reestructuración Ordenada Bancaria

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The Fondo de Reestructuración Ordenada Bancaria (FROB) is the Spanish state bank rescue fund . The fund was set up on June 26, 2009 with EUR 9 billion and later increased to EUR 15 billion. The fund can use this equity to take out loans of up to EUR 99 billion on the capital market.

The fund is managed by a committee of nine people. The Central Bank of Spain proposes four people . There is also one representative each from the Ministry of Finance and Economics and three other people.

history

In December 2010 the fund had EUR 10.58 billion. Euros given to Spanish savings banks. At the time, the Spanish approach was for Spanish savings banks facing economic problems to merge into larger savings banks. For example, seven Spanish savings banks merged in December 2010 to form Bankia , the fourth largest bank in Spain.

In January 2011 the Spanish government decided that Spanish banks should have a core capital of eight percent. The banks can use the state FROB for this.

In May 2012, Bankia was nationalized. The international consulting firms Roland Berger and Oliver Wyman were commissioned to conduct a bank stress test for the Spanish banking system after previous stress tests had lost credibility. Oliver Wyman is said to have determined a capital requirement of 51 to 62 billion euros for the Spanish banks. The euro finance ministers decided in June / July 2012 that the European Financial Stability Facility (EFSF) would raise money on the capital market by issuing bonds (maximum 100 billion euros) and, subject to conditions, give the FROB so that it can recapitalize the Spanish savings banks. In December 2012, the European Stability Mechanism, which is now responsible, transferred the first 39.5 billion euros to the Spanish state bank rescue fund FROB, followed by a further tranche of 1.9 billion euros in January 2013.

Web links

Individual evidence

  1. ↑ FROB: Royal Decree-Law 9/2009 (PDF; 250 kB)
  2. ↑ Gobernanza. FROB, 2009, archived from the original on August 2, 2013 ; accessed in August 2012 (Spanish).
  3. ↑ kyero.com: Bank Restructuring Fund Plans Further Bond Issues, December 2010  ( page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.@1@ 2Template: Dead Link / news.kyero.com  
  4. ↑ Bloomberg: Spain Bonds, Bank Shares Fall on Capital-Plan Concern, January 25, 2011
  5. ↑ Stress test: Spanish banks threatened with a hole of 270 billion euros , Deutsche Mittelstands Nachrichten , June 22, 2012.
  6. ↑ Tagesschau: Spanish bank rescue, 05/2013 (accessed on January 26, 2016)