Spain requests €39.5bn bank bailout The majority of the money, €37bn, will go to the four nationalised banks: Bankia, Catalunya Banc, NCG Banco and Banco de Valencia. A further €2.5bn will be channelled into the "bad bank" which is being used to absorb and quarantine toxic real estate assets. The money should be paid to the state's banking fund FROB by December 12. Eurozone finance ministers are expected to formally approve the bailout this afternoon at a meeting in Brussels. Austrian finance minister Maria Fekter said, on her way into the Brussels meeting: "I am very confident that it will develop well. We have carried out all the financial market actions well until now, and I expect the same here - that it will look positive at the end of the day. We still have some decisions to work out and will do that in a telephone conference. Spain needs less than first expected, the situation overall has improved... we are on the right path and can show that the measures we set are correct.