COM(2009)164 - State aid scoreboard - Spring 2009 update - Special edition on state aid interventions in the current financial and economic crisis

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Contents

  1. Key information
  2. Key dates
  3. Related information
  4. Full version
  5. EU Monitor

1.

Key information

official title

Report from the Commission - State aid scoreboard - Spring 2009 update - Special edition on state aid interventions in the current financial and economic crisis
 
Legal instrument Report
reference by COM-number111 COM(2009)164 EN
Additional COM-numbers COM(2009)164
CELEX number114 52009DC0164

2.

Key dates

Document 08-04-2009
Online publication 08-04-2009

3.

Related information

 

4.

Full version

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The full version is available for registered users of the EU Monitor by ANP and PDC Informatie Architectuur.

5.

EU Monitor

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  • 1. 
    The notion of aid is defined in Article 87 (1) of the EC Treaty and has been developed in the case law of the European Court of Justice. Further guidance is provided, in particular by references to case law, in the Commission notice on the enforcement of State aid law by national courts adopted on 25 February 2009.

     
  • 2. 
    European Commission, Directorate General for Economic and Financial Affairs, Interim Forecast, January 2009.

     
  • 3. 
    Communication from the Commission
     
  • 4. 
    Communication from the
     
  • 5. 
    Communication from the Commission on the Treatment of Impaired Assets in the Community banking sector, of 25 February 2009, OJ C 72, 26.3.2009, p. 1.

     
  • 6. 
    OJ C 16, 22.1.2009 p. 1-9.

     
  • 7. 
    Communication from the Commission
     
  • 8. 
    The High Level Group on Financial Supervision in the EU, chaired by Jacques de Larosière, Report, Brussels 25 February 2009; see also the 2008 OECD Financial Market Trends publication 'The Current Financial Crisis: Causes and Policy Issues'.

     
  • 9. 
    Point 5 of the
     
  • 10. 
    Communication from the Commission
     
  • 11. 
    Case C10/2008, Restructuring aid to IKB (decision 21.10.2008).

     
  • 12. 
    Case NN70/2007, Northern Rock (decision 5.12.2007).

     
  • 13. 
    Case NN25/2008, WestLB (decision 17.7.2008).

     
  • 14. 
    Case NN44/2008, Rescue aid to Hypo Real Estate (decision 2.10.2008).

     
  • 15. 
    Communication from the Commission
     
  • 16. 
    Communication from the Commission
     
  • 17. 
    Communication from the Commission
     
  • 18. 
    Communication from the Commission
     
  • 19. 
    Communication from the Commission
     
  • 20. 
    Communication from the Commission
     
  • 21. 
    Communication from the Commission
     
  • 22. 
    Communication from the Commission
     
  • 23. 
    OJ C 270, 25.10.2008, p.
     
  • 24. 
    OJ C 10, 15.1.2009, p. 2-10.

     
  • 25. 
    Communication from the Commission on the Treatment of Impaired Assets in the Community banking sector, of 25 February 2009, OJ C 72, 26.3.2009, p. 1.

     
  • 26. 
    Guarantee schemes and schemes combining guarantee with other measures.

     
  • 27. 
    The total volume of guarantees under the scheme was originally estimated at
     
  • 28. 
    Although the total amount of the guarantee could not be identified ex ante, the Irish scheme is limited in its material and temporal scope. The scheme covers, for the period from 30 September 2008 to 29 September 2010, liabilities existing at close of business on 29 September 2008 or at any time thereafter, up to 29 September 2010, in respect of retail and corporate deposits, interbank deposits, senior unsecured debt, asset covered securities, dated subordinated debt excluding any intra-group borrowing and any debt due to the European Central Bank arising from Eurosystem monetary operations institution. No call may be made under the guarantee after 29 September 2010.

     
  • 29. 
    Initial volume of
     
  • 30. 
    Under the Italian scheme, a State guarantee can be provided until 31 December 2009 on liabilities of Italian banks issued after 13 October 2008 and until 31 December 2009. Subordinated debt, guaranteed bank bonds, structured instruments or complex products, or products with a derivative component are explicitly excluded from the eligibility for the guarantee, and so is regulatory capital. Only liabilities with residual maturity of no less than three months and no more than five years are eligible and those with a maturity longer than 3 years cannot exceed 25 % of the total value of the liabilities covered by the State guarantee. In addition, the scheme includes a ceiling for each beneficiary bank.

     
  • 31. 
    Limit established : 20 % GDP (exchange rate of 20 February 2009).

     
  • 32. 
    1500 HUF (exchange rate of 18 February 2009).

     
  • 33. 
    Part of the
     
  • 34. 
    This amount corresponds to two different schemes: Case N507/2008 approved on 13.10.2008
     
  • 35. 
    2005 data.

     
  • 36. 
    See footnote 38.

     
  • 37. 
    Communication from the Commission
     
  • 38. 
    Recapitalisation schemes and schemes combining recapitalisation with other measures.

     
  • 39. 
    Fund for the Acquisition of Financial Assets; the Spanish scheme does not represent a classical recapitalisation scheme, although it might produce effects similar to recapitalisation.

     
  • 40. 
    The overall budget of the guarantee and the liquidity schemes is capped at
     
  • 41. 
    50 billion SEK.

     
  • 42. 
    See footnote 50.

     
  • 43. 
    Communication from the Commission
     
  • 44. 
    On the same data, the Commission has opened formal investigation to analyse whether the restructuring plan for the Dexia group will restore the long term viability.

     
  • 45. 
    10 per year in 2009 and 2010.

     
  • 46. 
    Application of the German support scheme for financial institutions.

     
  • 47. 
    Guarantee against legal risks. Budget not available at this stage.

     
  • 48. 
    See footnote 56.

     
  • 49. 
    OJ C 16, 22.1.2009 p. 1-9. The consolidated version, integrating the amendments adopted by the Commission on 25 February 2009, is published in OJ C 83, 7.4.2009, p. 1-15.

     
  • 50. 
    Communication from the Commission
     
  • 51. 
    OJ C 16, 22.1.2009 p. 1-9. The consolidated version, integrating the amendments adopted by the Commission on 25 February 2009, is published in OJ C 83, 7.4.2009, p. 1-15.

     
  • 52. 
    OJ C 281, 17.9.1997, p. 4.

     
  • 53. 
    Aid up to
     
  • 54. 
    The notion of aid is defined in Article 87 (1) of the EC Treaty and has been developed in the case law of the European Court of Justice. Further guidance is provided, in particular by references to case law, in the Commission notice on the enforcement of State aid law by national courts adopted on 25 February 2009.

     
  • 55. 
    Modifications to the original schemes are not taken into account.

     
  • 56. 
    The notion of aid is defined in Article 87 (1) of the EC Treaty and has been developed in the case law of the European Court of Justice. Further guidance is provided, in particular by references to case law, in the Commission notice on the enforcement of State aid law by national courts adopted on 25 February 2009.

     
  • 57. 
    European Commission, Directorate General for Economic and Financial Affairs, Interim Forecast, January 2009.

     
  • 58. 
    Communication from the Commission
     
  • 59. 
    Communication from the
     
  • 60. 
    Communication from the Commission on the Treatment of Impaired Assets in the Community banking sector, of 25 February 2009, OJ C 72, 26.3.2009, p. 1.

     
  • 61. 
    OJ C 16, 22.1.2009 p. 1-9.

     
  • 62. 
    Communication from the Commission
     
  • 63. 
    The High Level Group on Financial Supervision in the EU, chaired by Jacques de Larosière, Report, Brussels 25 February 2009; see also the 2008 OECD Financial Market Trends publication 'The Current Financial Crisis: Causes and Policy Issues'.

     
  • 64. 
    Point 5 of the
     
  • 65. 
    Communication from the Commission
     
  • 66. 
    Case C10/2008, Restructuring aid to IKB (decision 21.10.2008).

     
  • 67. 
    Case NN70/2007, Northern Rock (decision 5.12.2007).

     
  • 68. 
    Case NN25/2008, WestLB (decision 17.7.2008).

     
  • 69. 
    Case NN44/2008, Rescue aid to Hypo Real Estate (decision 2.10.2008).

     
  • 70. 
    Communication from the Commission
     
  • 71. 
    Communication from the Commission
     
  • 72. 
    Communication from the Commission
     
  • 73. 
    Communication from the Commission
     
  • 74. 
    Communication from the Commission
     
  • 75. 
    Communication from the Commission
     
  • 76. 
    Communication from the Commission
     
  • 77. 
    Communication from the Commission
     
  • 78. 
    OJ C 270, 25.10.2008, p.
     
  • 79. 
    OJ C 10, 15.1.2009, p. 2-10.

     
  • 80. 
    Communication from the Commission on the Treatment of Impaired Assets in the Community banking sector, of 25 February 2009, OJ C 72, 26.3.2009, p. 1.

     
  • 81. 
    Guarantee schemes and schemes combining guarantee with other measures.

     
  • 82. 
    The total volume of guarantees under the scheme was originally estimated at
     
  • 83. 
    Although the total amount of the guarantee could not be identified ex ante, the Irish scheme is limited in its material and temporal scope. The scheme covers, for the period from 30 September 2008 to 29 September 2010, liabilities existing at close of business on 29 September 2008 or at any time thereafter, up to 29 September 2010, in respect of retail and corporate deposits, interbank deposits, senior unsecured debt, asset covered securities, dated subordinated debt excluding any intra-group borrowing and any debt due to the European Central Bank arising from Eurosystem monetary operations institution. No call may be made under the guarantee after 29 September 2010.

     
  • 84. 
    Initial volume of
     
  • 85. 
    Under the Italian scheme, a State guarantee can be provided until 31 December 2009 on liabilities of Italian banks issued after 13 October 2008 and until 31 December 2009. Subordinated debt, guaranteed bank bonds, structured instruments or complex products, or products with a derivative component are explicitly excluded from the eligibility for the guarantee, and so is regulatory capital. Only liabilities with residual maturity of no less than three months and no more than five years are eligible and those with a maturity longer than 3 years cannot exceed 25 % of the total value of the liabilities covered by the State guarantee. In addition, the scheme includes a ceiling for each beneficiary bank.

     
  • 86. 
    Limit established : 20 % GDP (exchange rate of 20 February 2009).

     
  • 87. 
    1500 HUF (exchange rate of 18 February 2009).

     
  • 88. 
    Part of the
     
  • 89. 
    This amount corresponds to two different schemes: Case N507/2008 approved on 13.10.2008
     
  • 90. 
    2005 data.

     
  • 91. 
    See footnote 38.

     
  • 92. 
    Communication from the Commission
     
  • 93. 
    Recapitalisation schemes and schemes combining recapitalisation with other measures.

     
  • 94. 
    Fund for the Acquisition of Financial Assets; the Spanish scheme does not represent a classical recapitalisation scheme, although it might produce effects similar to recapitalisation.

     
  • 95. 
    The overall budget of the guarantee and the liquidity schemes is capped at
     
  • 96. 
    50 billion SEK.

     
  • 97. 
    See footnote 50.

     
  • 98. 
    Communication from the Commission
     
  • 99. 
    On the same data, the Commission has opened formal investigation to analyse whether the restructuring plan for the Dexia group will restore the long term viability.

     
  • 100. 
    10 per year in 2009 and 2010.

     
  • 101. 
    Application of the German support scheme for financial institutions.

     
  • 102. 
    Guarantee against legal risks. Budget not available at this stage.

     
  • 103. 
    See footnote 56.

     
  • 104. 
    OJ C 16, 22.1.2009 p. 1-9. The consolidated version, integrating the amendments adopted by the Commission on 25 February 2009, is published in OJ C 83, 7.4.2009, p. 1-15.

     
  • 105. 
    Communication from the Commission
     
  • 106. 
    OJ C 16, 22.1.2009 p. 1-9. The consolidated version, integrating the amendments adopted by the Commission on 25 February 2009, is published in OJ C 83, 7.4.2009, p. 1-15.

     
  • 107. 
    OJ C 281, 17.9.1997, p. 4.

     
  • 108. 
    Aid up to
     
  • 109. 
    The notion of aid is defined in Article 87 (1) of the EC Treaty and has been developed in the case law of the European Court of Justice. Further guidance is provided, in particular by references to case law, in the Commission notice on the enforcement of State aid law by national courts adopted on 25 February 2009.

     
  • 110. 
    Modifications to the original schemes are not taken into account.

     
  • 111. 
    De Europese Commissie kent nummers toe aan officiële documenten van de Europese Unie. De Commissie maakt onderscheid in een aantal typen documenten door middel van het toekennen van verschillende nummerseries. Het onderscheid is gebaseerd op het soort document en/of de instelling van de Unie van wie het document afkomstig is.
     
  • 112. 
    De Raad van de Europese Unie kent aan wetgevingsdossiers een uniek toe. Dit nummer bestaat uit een vijfcijferig volgnummer gevolgd door een schuine streep met de laatste twee cijfers van het jaartal, bijvoorbeeld 12345/00 - een document met nummer 12345 uit het jaar 2000.
     
  • 113. 
    Het interinstitutionele nummer is een nummerreeks die binnen de Europese Unie toegekend wordt aan voorstellen voor regelgeving van de Europese Commissie.
    Binnen de Europese Unie worden nog een aantal andere nummerseries gebruikt. Iedere instelling heeft één of meerdere sets documenten met ieder een eigen nummering. Die reeksen komen niet overeen met elkaar of het interinstitutioneel nummer.
     
  • 114. 
    Deze databank van de Europese Unie biedt de mogelijkheid de actuele werkzaamheden (workflow) van de Europese instellingen (Europees Parlement, Raad, ESC, Comité van de Regio's, Europese Centrale Bank, Hof van Justitie enz.) te volgen. EURlex volgt alle voorstellen (zoals wetgevende en begrotingsdossiers) en mededelingen van de Commissie, vanaf het moment dat ze aan de Raad of het Europees Parlement worden voorgelegd.
     
  • 115. 
    Als dag van bekendmaking van een Europees besluit geldt de dag waarop het besluit in het Publicatieblad wordt bekendgemaakt, en daardoor in alle officiële talen van de Europese Unie bij het Publicatiebureau beschikbaar is.