Spain moves on troubled bank

March 30, 2009

Regional savings bank CCM has become the first Spanish bank to be rescued since the financial crisis began. In the UK building society Nationwide have taken over stricken lender Dunfermline. The Bank of Spain is to bail out regional savings bank Caja Castilla la Mancha, the Spanish government has announced. The national bank will take over the running of CCM and provide funds of 12 billion dollars in government guarantees.