The EU Commission finds that Greek plans aimed at supporting the reduction of non-performing loans of Greek banks are in line with EU State aid rules

STATE AID: COMMISSION APPROVES MARKET CONFORM ASSET PROTECTION SCHEME FOR BANKS IN GREECE* The European Commission has found Greek plans aimed at supporting the reduction of non-performing loans of Greek banks to be free of any State aid. The Commission found that, under the asset protection scheme (known by the name of “Hercules”), the Greek State will be remunerated in line with market conditions for the risk it will assume by granting a guarantee on securitised non-performing loans. If a Member State intervenes as a private investor would do, and is remunerated for the risk assumed in a way a private investor would accept, such interventions do not constitute State aid. The Commission therefore concluded that the Greek measure does not involve State aid within the meaning of the

Access to this article is restricted to subscribers

Already Subscribed? Sign-in

Access to this article is restricted to subscribers.

Read one article for free

Sign-up to read this article for free and discover our services.

 

PDF Version

Author

Quotation

European Commission, The EU Commission finds that Greek plans aimed at supporting the reduction of non-performing loans of Greek banks are in line with EU State aid rules, 10 October 2019, e-Competitions Bulletin November 2019, Art. N° 92094

Visites 202

All issues

  • Latest News issue 
  • All News issues
  • Latest Special issue 
  • All Special issues