The Fondo de reestructuración ordenada bancaria (FROB) is a banking bailout and reconstruction program initiated by the Spanish government in June 2009.[1] FROB, translated as the "Fund For Orderly Bank Restructuring", presides over the mergers and acquisitions of Spain's failing savings banks. FROB has €99 billion in funding, which it uses to incentivize the nations large savings banks (or Cajas) to participate in large joint "virtual" mergers in an effort to stave off systematic financial instability.[2]