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State Aid

State aid rules on financial crisis measures prolonged

14.12.2011

PR(11)75

The Authority updates and prolongs its state aid rules on support measures in favour of banks in the context of the financial crisis.

The Authority has since the beginning of the financial crisis adopted four sets of Guidelines specifically addressing state aid measures to the banking sector.

The Authority has today prolonged and amended those Guidelines by adding a new Chapter clarifying the application of state aid rules, as from January 2012, to measures supporting banks in the context of the financial crisis. The new Financial Crisis Guidelines will apply as long as required by market conditons.

The crisis-related state aid guidelines are maintained, but further guidance is provided for pricing and conditions for state recapitalisations and state guarantees.

The new guidelines explain in more detail how to ensure that the State is adequately remunerated if EFTA States decide to recapitalise their banks using instruments such as ordinary shares, for which remuneration is not fixed in advance.

The new methodology also concerns the remuneration of gurantees for banks' funding needs to ensure that banks pay fees reflecting their intrinsic risks rather than the risk related to the EFTA State concerned or the market as a whole.

The new guidelines are available here.

 

For further information, please contact:

Mr. Trygve Mellvang-Berg
Press & Information Officer
tel. (+32)(0)2 286 18 66
Mob. (+32)(0)492 900 187




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