Spanish central bank takes control of CajaSur

Article reports that the Bank of Spain seized control of CajaSur, an ailing savings bank controlled by the Roman Catholic church in Córdoba, on the 22 May 2010 in the latest sign of the difficulties faced by the country's savings and loan institutions after the collapse of the housing bubble.

ESO: Background information: Spain pushes to restructure savings banks http://www.europeansources.info/record/spain-pushes-to-restructure-savings-banks/

Website: Fondo de Reestructuración Ordenada Bancaria (FROB) / Fund for Orderly Bank Restructuring http://www.frob.es/index_en.html

Banco de España: Press Release, 22.5.10: The Banco de España replaces the directors of CajaSur http://www.bde.es/webbde/GAP/Secciones/SalaPrensa/NotasInformativas/10/Arc/Fic/presbe14e.pdf

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