Catalonia Seeks $6.3 Billion From Spain Regional Rescue Fund

Catalonia will tap a national rescue fund after Spain’s most indebted region was shut out of financial markets, suffering the type of funding squeeze that led Greece, Ireland and Portugal to seek international bailouts.

Catalonia, the largest of Spain’s 17 autonomous regions, will seek 5 billion euros ($6.3 billion), almost a third of the 18 billion-euro fund created in July by the government of Prime Minister Mariano Rajoy. Valencia was the first to tap the fund with a request on July 20.