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State Aid: Overview of Decisions and On-Going In-Depth Investigations of Financial Institutions in Difficulty

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European Commission - Fact Sheet State aid: Overview of decisions and on-going in-depth investigations of Financial Institutions in Difficulty Brussels, 10 February 2016 In 2008/2009, the Commission adopted a temporary state aid framework to enable Member States to deal with financial problems in systemic banks, as well as support access to finance for real economy firms. The crisis rules for banks, which were tightened in July and December 2010, were extended on 1 December 2011. The Temporary Framework for state aid measures to support access to finance in the current financial and economic crisis expired in December 2011. Situation as of 10 February 2016 Communications from the Commission to provide guidance to Member States Communication from the Commission — The application of State aid rules to measures taken in relation to financial institutions in the context of the current global financial crisis, 13 October 2008 (see IP/08/1495) Communication from the Commission — The recapitalisation of financial institutions in the current financial crisis: limitation of aid to the minimum necessary and safeguards against undue distortions of competition, 5 December 2008 (see IP/08/1901) Communication from the Commission on the Treatment of Impaired Assets in the Community Banking Sector, 25 February 2009 (see IP/09/322) Communication from the Commission - Temporary framework for State aid measures to support access to finance in the current financial and economic crisis, adopted on 17 December 2008 (see IP/08/1993), as amended on 25 February 2009. Communication from the Commission - The return to viability and the assessment of restructuring measures in the financial sector in the current crisis under the State aid rules, 23 July 2009 (see IP/09/1180) Communication from the Commission – on the application, from 1 January 2011, of State aid rules to support measures in favour of banks in the context of the financial crisis (see IP/10/1636) Communication from the Commission - on the application, from 1 January 2012, of State aid rules to support measures in favour of banks in the context of the financial crisis (see IP/11/1488) Communication from the Commission – on the application, from 1 August 2013, of State aid rules to support measures in favour of banks in the context of the financial crisis (see IP/13/672) State aid cases - situation as of 10 February 2016 Decisions adopted by the Commission during the period 2008 to 2016[1] Austria Type of measure / Beneficiary Type of Decision Date of adoption N557/2008 - Aid scheme for the Austrian financial Decision not to raise objections 9 December 2008 sector (guarantees, recapitalisation & other) IP/08/1933 N352/2009 - Prolongation EXME/09/0630 30 June 2009 N663/2009 - Second prolongation EXME/09/1217 17 December 2009 N241/2010 - Extension IP/10/839 25 June 2010 SA.32018 – Extension EXME 10/16.12 16 December 2010 Decision not to raise objections N 214/2008 - Recapitalisation of Hypo Tirol 17 June 2009 IP/09/928 N 640/2009 - BAWAG – temporary approval of capital Decision not to raise objections 22 December 2009 injection and asset guarantee IP/09/1989 Decision not to raise objections N 261/2010 - Restructuring of BAWAG 30 June 2010 IP/10/865 C 16/2009 and N698/2009 – Emergency aid to Hypo Decision not to raise objections 23 December 2009 Group Alpe Adria IP/09/1998 Decision not to raise objections SA.32745 - Restructuring of Kommunalkredit 31 March 2011 IP/11/389 SA.32172 and SA.32554 – Temporary approval of aid Decision not to raise objections for Hypo Group Alpe Adria 24 May 2011 IP/11/636 [decision replaced – see below] SA.32172 and SA.32554 – Replacement decision: Decision not to raise objections 19 July 2011 Temporary approval of aid for Hypo Group Alpe Adria Decision to open an in-depth SA.31883 – Restructuring of Österreichische procedure 9 December 2011 Volksbanken AG IP/11/1522 SA.31189 – BAWAG Amendment Decision Decision not to raise objections 19 December 2011 SA.31883 – Restructuring of Österreichische Final decision 19 September 2012 Volksbanken AG IP/12/982 Decision not to raise objections SA.34716 - Recapitalisation of Hypo Tirol 4 October 2012 IP/12/1067 SA.32554 - Temporary approval of an emergency Decision not to raise objections 5 December 2012 recapitalisation in favour of Hypo Group Alpe Adria IP/12/1315 Decision not to raise objections SA.32745 - Run-off plan of Kommunalkredit 19 July 2013 EXME/13/19.07 Final decision SA.32554 - Liquidation of Hypo Group Alpe Adria 3 September 2013 IP/13/811 SA. 31883 (2015/N) – Restructuring of Österreichische Volksbanken AG (OVAG): MEX/15/5303 2 July 2015 authorisation for the amended restucturing plan Belgium Belgium/Luxembourg Decision not to raise objections 19 November 2008 NN45-49-50/2008 – Guarantee on liabilities of Dexia IP/08/1745 Prolongation IP/09/1662 30 October 2009 Belgium/France/Luxembourg C9/2009 – Guarantee in favour of Dexia on certain Decision not to raise objections 13 March 2009 assets in FSA IP/09/399 Final conditional decision after C9/2009 – Approval of restructuring plan for Dexia formal investigation procedure 26 February 2010 IP/10/201 SA.33760, SA.33763, SA.33764 – Temporary Opening decision approval of guarantees on the refinancing of Dexia IP/11/1592 21 December 2011 and DCL and opening of in-depth investigation SA.33760, SA.33763, SA.33764 (2011/C) - Dexia – prolongation of guarantees and extension of the in IP/12/523 31 May 2012 depth investigation SA.34925 - Dexia – Increase of guarantee ceiling IP/12/578 6 June 2012 SA.34925-SA.34927- SA.34928 (2012/C) - Dexia – MEX/12/0926 26 September 2012 prolongation of guarantees SA.33751, SA.33760, SA.33763, SA.33764 (2011/C) IP/12/1447 28 December 2012 and SA.30521 (MC2/2010) - Dexia and Belfius dcision not to raise objectionsn Belgium/Luxembourg/Netherlands Decision not to raise objections N574/2008 – Measures in favour of Fortis 19 November 2008 IP/08/1746 NN42-46-53A/2008 – Restructuring aid to Fortis Bank Decision not to raise objections 03 December 2008 and Fortis Bank Luxembourg IP/08/1884 Belgium/Luxembourg N255/2009 and N274/2009 – Additional aid measures Decision not to raise objections 12 May 2009 in favour of Fortis Bank and Fortis Bank Luxembourg IP/09/743 Belgium N602/2008 – Recapitalisation measure in favour of Decision not to raise objections 18 December 2008 KBC IP/08/2033 Decision not to raise objections NN57/2008 – Capital Injection for Ethias Group 12 February 2009 IP/09/254 C18/2009 – Recapitalisation and asset relief for KBC Decision not to raise objections 30 June 2009 Group IP/09/1063 Final conditional decision after C18/2009 – Asset relief and restructuring package for formal investigation procedure 18 November 2009 KBC IP/09/1730 N 256/2009 – Restructuring aid for Ethias Decision not to raise objections 20 May 2010 IP/10/592 SA.29833 – Monitoring of KBC: extension of the target 16 December 2010 date of certain divestments by KBC SA.29833 – Monitoring of KBC: Amendment of certain 27 July 2011 measures in the Restructuring Plan SA.30962 – Monitoring of Ethias 12 September 2011 SA.33751 – Temporary approval of rescue aid for IP/11/1203 17 October 2011 Dexia Bank Belgium and opens in depth investigation SA.29833 – Monitoring of KBC: extension of the target 22 December 2011 date of certain divestments by KBC and amendment of restructuring commitments SA.9833 (MC11/2009) – KBC – phasing out and Decision not to raise objections 20 December 2012 divestment EXME/12 / 21.12 SA.30962 - Amendment amendments to the IP/14/672 12 June 2014 restructuring plan of Ethias SA.33927 - Recover state aid from financial Final decision 3 July 2014 cooperative ARCO IP/14/773 SA.43306 - Amendment amendments to the restructuring plan of Ethias: issuance of additional MEX/15/5901 23 October 2015 subordinated debt Bulgaria SA.38994 - Liquidity scheme in favour of Bulgarian IP/14/754 29 June 2014 banks Decision not to raise objections SA.39358 – Liquidity support to First Investment Bank 25 November 2014 IP/14/2124 Cyprus N511/2009 - Cypriot scheme to support credit Decision not to raise objections 22 October 2009 institutions (guarantee) IP/09/1569 SA.34827 - Rescue recapitalisation of Cyprus Popular Decision not to raise objections 13 September 2012 Bank (ex-Marfin) IP/12/958 Decision not to raise objections SA.35499 - State guarantee scheme for Cypriot banks 6 November 2012 IP/12/1171 SA.35852 - Prolongation EXME/13/22.01 22 January 2013 SA.36930 - Prolongation EXME/13/25.07 25 July 2013 SA.37870 - Prolongation EXME/13/18.12 18 December 2013 SA.38867 - Prolongation EXME/14/25.06 25 June 2014 SA.35334 - Restructuring of Cypriot cooperative credit Decision not to raise objections 24 February 2014 institutions IP/14/186 SA.40027 – Fifth Prolongation of Cypriot guarantee EXME/15/3280 14 January 2015 scheme for banks H1 2015 SA.42080 – Sixth Prolongation of Cypriot guarantee 13 July 2015 scheme for banks H2 2015 SA.43367 – 2015 Additional restructuring aid to the IP/15/6365 18 December 2015 cooperative Central Bank Ltd SA.43874 – Seventh Prolongation of Cypriot 11 January 2016 guarantee scheme for banks H1 2016 Denmark NN36/2008 - Rescue aid to Decision not to raise objections 31 July 2008 Roskilde Bank IP/08/1222 NN39/2008 - Liquidation aid Decision not to raise objections 5 November 2008 Roskilde bank IP/08/1633 SA.31867 – Amendments to liquidation aid for Decision not to raise objections 24 May 2011 Roskilde bank EXME 11 / 24.05 Decision not to raise objections NN51/2008 - Guarantee scheme for banks in Denmark 10 October 2008 IP/08/1483 N31a/2009 – Amendment
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