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European Commission: DG Competition State Aid Decisions 12th May 2009: Bank Re-Capitalisations

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The European Commission announced some important decisions yesterday in regard to its process of investigating the Bank re-capitalisation schemes of the member states under state aid rules. The speech of the commissioner (Neelie Kroes) gives some context to the framework within which the Directorate General Competition is operating and the thinking behind the process, it is interesting. Below we itemise the decisions.

Speech by Neelie Kroes, European Commissioner for Competition Policy - State aid decisions on Landesbanken

Specific Commission Decisions (DG Competition)

Commission approves extension of French scheme for refinancing credit institutions

Commission approves recapitalisation of Allied Irish Bank

Commission approves additional aid measures from Belgium and Luxemburg for Fortis

Commission approves aid package for German bank WestLB and

Commission opens in-depth investigation into aid package for German Landesbank BayernLB and its Austrian subsidiary Hypo Group Alpe Adria

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