Brussels, 06/02/2013 (Agence Europe) - On 6 February 2013, the European Commission authorised the extension, until 30 June 2013, of the Spanish state guarantee scheme for loans issued by Spanish banks, a scheme initially approved in December 2008 (see EUROPE 9810) and reintroduced in February 2012. The original scheme gave a guarantee for up to five years on bonds and securities of between three months and five years issued by Spanish banks deemed to be solvent. The total funding was capped at €100 billion, which can be doubled if required in light of market conditions. The Commission says the aid meets its recommendations for state aid for banks in times of crisis. (FG/transl.fl)