Spain to part-nationalise weakest savings banks | Business | guardian.co.uk: "Spain is to partially nationalise its weakest savings banks, or cajas, amid concern about the impact bad loans to building developers may have on the country's financial sector and to calm market jitters about an Irish-style sovereign debt crisis.
A presentation to investors from the state-backed Orderly Bank Restructuring Fund (FROB) says this could be done using the fund if some of the 17 savings banks are unable to raise capital themselves, which analysts see as probable.
'FROB could provide funds directly taking a stake in the entity on a temporary basis,' the presentation says.
The government will force cajas to become conventional banks and seek stock market listings, according to Spanish media reports today."
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