Frob swoops on Banco de Valencia with €3bn aid package, restructuring deadline
The European Commission has given Spain six months to put forward a restructuring plan for Banco de Valencia, after the country took over the bank and offered it €3bn of aid on Monday.
Spains bank rescue fund, Frob, said it would inject up to 1bn in capital and 2bn in liquidity and it replaced the board of directors.
Banco de Valencia is very small, accounting for 0.74% of total assets in the Spanish banking system, and 7% of credit in its
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