Brussels, 22/11/2011 (Agence Europe) - On 22 November, the European Commission temporarily approved a capital injection up to €1 billion and a liquidity facility of up to € 2 billion for Banco de Valencia, a small publicly-listed bank based in Valencia and Murcia in Eastern Spain. It accounts for approximatley 7% and 4% of both credit and deposits. The funds will be provided by the Spanish Fondo de Reestructuración Ordenada Bancaria (FROB), which was created in 2009 to support the consolidation in the Spanish banking sector and ensure an orderly restructuring of banks. The rescue measures are limited in time and Spain committed to submit a restructuring plan within six months that will need to demonstrate the bank's return to long term viability, an appropriate sharing of the rescue burden and measures to address distortions of competition. Banco de Valencia is the seventh biggest Spanish lending establishment to benefit from FROB support. (FG/transl.fl)