Fondo de Reestructuración Ordenada Bancaria
The Fondo de reestructuración ordenada bancaria (FROB), in English known as Fund for Orderly Bank Restructuring (FOBR), is a banking bailout and reconstruction program initiated by the Spanish government in June 2009. FROB, translated as the "Fund For Orderly Bank Restructuring", presides over the mergers and acquisitions of Spain's failing savings banks. FROB was funded with €99 billion, which it has used to incentivize the nations large savings banks (or Cajas) to participate in large joint "virtual" mergers in an effort to stave off systematic financial instability.
FROB and Bankia
Spain’s bank bailout fund will convert its 4.5 billion euros ($5.8 billion) of preferred shares in Bankia’s parent, Banco Financiero y de Ahorros, into voting shares, the Economy Ministry said in a statement yesterday. That will give it a controlling stake of 45 percent in Bankia, the ministry said, adding the government will provide the capital that’s “strictly necessary” to clean up the lender. 
European leaders are discussing if European Union rescue program money can be paid directly to Spain’s bank rescue fund FROB to help Spain solve its banking crisis without seeking a full bailout, Bloomberg' Sueddeutsche Zeitung reported . In return for the cash, Spain would have to promise to solve its banking problems with measures that may include closing or merging financial institutions. Spain would not have to promise any major austerity or economic reforms in return for the help, the newspaper said.
On June 9, 2012, the Spanish economy minister Luis de Guindos announced that Spain would request a loan of up to 100 billion euro for FROB, which would be used to recapitalise Spanish banks. The money would be provided by the European Financial Stability Facility or the European Stability Mechanism.
- "Spain Seeks EU’s Fourth Bailout With $125 Billion Request". Bloomberg. 2012-06-09.