UPDATE 1-FACTBOX-Spain's bank rescue fund

(Adds details)

MADRID, June 26 (Reuters) - Spain's government on Friday approved the creation of the Fund for Ordered Bank Restructuring (FROB) to ward off possible systemic risk.

Here are the main details of the fund and Spain's banking system:

-- The fund will have initial capital of 9 billion euros

-- Of this, 2.25 billion euros will come from the privately-run Deposit Guarantee Fund and the rest from public coffers.

-- The FROB can eventually borrow up to 10 times its initial capital level, or a total of 90 billion euros. In 2009 it can borrow three times its capital, or 27 billion euros.

-- Banks voluntarily drawing from the fund will have up to 5 years to repay funds

-- The fund will be controlled by the Bank of Spain and its board chaired by the central bank's deputy governor.

SPAIN'S BANKING SYSTEM

-- Spain has 49 banks and 46 savings banks and 90 credit cooperatives

-- Spain's banks hold total assets worth 2.064 trillion euros. The savings banks hold 1.307 trillion euros in assets

-- Only one savings bank is listed - Caja Mediterraneo CAM.MC

-- Only one bank has been rescued by the state since the start of the financial crisis, savings bank Caja Castilla la Mancha (CCM)

-- Non-performing loans for the banks in April reached 3.81 percent, while NPLs at the savings banks rose to 5.05 percent

-- The Savings Bank Association (CECA) expects NPLs to reach a maximum of 9 percent next year (Reporting by Paul Day; Editing by Toby Chopra)