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 nation's large savings banks (or Cajas) to participate in large joint "virtual" mergers in an effort to stave off systematic financial instability.