On 2 March 2021, the Grand Chamber of the Court of Justice (“ECJ”) confirmed the judgment of the General Court (“GC”) in Tercas (19 March 2019, Italy and Others v Commission, Joined Cases T-98/16, T-196/16 and T-198/16). The judgments on appeal and at first instance provide important guidance on the concept of “State aid” in the sense of Article 107(1) TFEU and, in particular, on the question whether a measure adopted by a private entity can be “imputable” to a Member State within the meaning of that provision. The case concerns certain measures adopted by an Italian private consortium of banks called Fondo interbancario di tutela dei depositi (“FITD”). The establishment of FITD was authorised by the Italian central bank (“Bank of Italy”), which also approved its statutes. The Bank of Italy
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The EU Court of Justice rejects the Commission’s appeal concerning alleged aid granted to a bank and clarifies the requirements for the imputability test in the case of private entities (Banca Popolare di Bari)
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