Spain makes formal request for EU bank aid

MADRID Mon Dec 3, 2012 8:08am EST

MADRID Dec 3 (Reuters) - Spain on Monday requested formally the disbursement of 39.5 billion euros ($51.4 billion) of European funds to recapitalise its crippled banking sector, the Economy Ministry said in a statement.

The money - 37 billion euros for the four nationalised banks Bankia, Catalunya Banc, NCG Banco and Banco de Valencia and 2.5 billion euros for the so-called "bad bank" - should be paid to the state's banking fund FROB around Dec. 12, it added.

Euro zone finance ministers are expected to approve the disbursement later on Monday when they meet in Brussels for their monthly meeting.