Spain is about to receive an emergency disbursement from the €100 bn bailout of its financial system because of restrictions the ECB imposed on bank borrowing, according to a person familiar with the matter. The ECB last month imposed limits on how much it will lend banks against government-guaranteed bonds. The rule change meant Spain had to ditch a plan for nationalized lender Bankia group to get a loan from the ECB. A spokesman for the EC declined to comment, apart from saying that Spain hasn’t requested the initial €30 bn payment be mobilized. (BBG)

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