10/09/2012 (Agence Europe) - Temporary state aid for BFA. On Monday 10 September, the European Commission temporarily approved, under EU State aid rules, a €4.5 billion capital increase for the Spanish banking group BFA and its subsidiary Bankia to restore its capital position and ensure it can access different funding sources (see EUROPE 10643). The Spanish authorities have committed to present a restructuring plan in time to allow the Commission to approve the plan by November 2012. The aid consists of conversion into own funds of existing preferential shares held by the state of an amount of €4.465 million and a guarantee of liquidity for €19 billion in favour of the BFA and its subsidiary Bankia. (FG/trans.fl)