A 'bad bank' being set up to allow lenders to offload toxic real estate investments will hold up to â¿¬90 billion of assets, the Economy Ministry said Wednesday. The government aims to set up the bank, to be known by its Spanish acronym SAREB, on Nov. 19, the ministry said.Establishing a bad bank is a requirement for Spain to gain access to a â¿¬100 billion loan by the eurozone group of nations to help those of its financial entities worst hit by the collapse of the country's bloated real estate sector with the onset of the crisis in 2008.
Spain: Decision On Bailout Within Weeks
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