The Bank of Spain said on Saturday it had taken over the running of Spanish savings bank CajaSur after its planned merger with another of the country's small lenders failed, Reuters reported. CajaSur will now have access to the Fund for Orderly Bank Restructuring (FROB), the Bank of Spain said in a statement. "This action, which we have taken as a result of the viability problems presented by CajaSur and the impossibility of closing its merger with Unicaja, will guarantee that it can continue to operate and fulfil its obligations," the central bank said. CajaSur accounts for nearly 0.6 percent of Spain's financial system's assets, which will not be affected in any way by the intervention, the Bank of Spain said. -- SPA
