UPDATE 1-Hypo Real taps 15 bln euros in govt guarantees

* Hypo Real Estate gets government guarantees

* First bank to tap Berlin programme

* Shares indicated up 0.6 percent

(Adds details, background)

FRANKFURT, Oct 31 (Reuters) - Hypo Real Estate HRXG.DE has secured the 15 billion euros ($19.6 billion) in loan guarantees it requested from the government's rescue package, making it Germany's first bank to seize the lifeline.

The short-term guarantee covers a bank bond and enables the commercial real estate lender to draw on a 15 billion euro liquidity support facility from Germany's Bundesbank central bank, the company said in a statement late on Thursday.

The guarantee will help Hypo Real Estate bridge a funding gap until a separate 50 billion euro rescue package -- arranged earlier this month by the government, regulators and a consortium of German banks and insurers -- takes effect.

Hypo Real estate also said it had reached an agreement with this consortium on key elements of the package and that the full extent of the facility was due to be provided by mid-November.

Its shares were indicated 0.6 percent higher before the German market opens at 0800 GMT.

Hypo Real is one of a string of German banks hurt by the global financial storm, prompting the 500 billion euro government rescue fund.

Two leading German bankers called for joint action by the country's lenders to make use of financial aid offered by the government in an effort to help normalise the market.

"We all need to be interested in having the money market return to a normal state. At the moment we are far away from that," said Wolfgang Sprissler, the head of HypoVereinsbank, at an industry event in Frankfurt late on Thursday. (Reporting by Ludwig Burger, editing by Will Waterman)