The European Commission approves rescue aid of about 2 billion € for German financial institution (Bankgesellschaft Berlin)

"Germany – Commission approves rescue aid of about Euro 2 billion for Bankgesellschaft Berlin AG (BGB)"* On 25 July 2001, the Commission approved the Federal Government’s application in respect of rescue aid of about € 2 billion to be granted by the Land of Berlin toBankgesellschaft Berlin AG (BGB) with a view to enabling it to restore in the short term its pre-crisis solvency ratio. The aid had become necessary following substantial losses by BGB above all in the real estate sector, which caused its equity capital to fall below the statutory solvency ratio; otherwise, the Federal Banking

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  • European Commission - DG ENER

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Stefan Moser, The European Commission approves rescue aid of about 2 billion € for German financial institution (Bankgesellschaft Berlin), 25 July 2001, e-Competitions Bulletin Financial services, Art. N° 38986

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