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State Aid

Invitation to comment on investigations into the restructuring of Icelandic banks



The Authority calls for comments from interested parties into three investigations that have been opened into state aid granted in 2008 and 2009 to rescue domestic operations of the three main Icelandic banks; Glitnir, Kaupthing and Landsbanki; and to establish and capitalise new successor banks, now called Islandsbanki, Arion Bank and NBI (Landsbankinn) respectively.

The Authority initiated formal investigations in the case of each bank on 15 December 2010 (see PR(10)69).

Today, summaries of the opening decisions were published in the Official Journal of the European Union in all languages of the 27 EU member states, and in the EEA supplement to it in the languages of the EFTA states (see the Official Journal for 10 February 2011). Furthermore, the non-confidential versions of the decisions are available in English on the Authority's website (see Decisions Numbers 492/10, 493/10, and 494/10).

Stakeholders and other interested parties are invited to submit their observations to the Authority by 11 March 2011.

As is required under the relevant procedural rules, the observations received will be submitted to the Icelandic authorities for comments. If requested, an interested party's identity can be withheld on grounds of potential damage (see Article 6 of Part II of Protocol 3 to the Surveillance and Court Agreement).

For further information, please contact:

Mr. Trygve Mellvang-Berg,
Press and Information Officer
tel: (+32)(0)2 286 1866
mob: (+32)(0) 492 900187

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