CASE COMMENT : STATE AID - NOTION OF AID – ADVANTAGE – RETURN ON POSTAL CURRENT ACCOUNTS

Notion of aid: The General Court annuls, for manifest error of appraisal, a decision of the Commission establishing the existence of an advantage in the return on current accounts opened by a public bank (Poste Italiane)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. Factual and legal background - Complaint and Commission decision An Italian decree of 1945 requires the Italian Post Office (Poste Italiane SpA, Banco Posta for financial services) to transfer the funds collected from its customers to a current account of the Caisse des dépôts et de prêts (of the Treasury since 2003). This obligation is known as the "obligation to use". Pursuant to a law of 2005, the Treasury and Poste Italiane concluded an agreement setting out the market parameters and the method of calculating the rate of remuneration for the deposit with the Treasury of the liquid funds from postal current accounts. The Italian banking association

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Authors

  • Sheppard, Mullin, Richter & Hampton (Brussels)
  • Hogan Lovells (Brussels)

Quotation

Jacques Derenne, David Dauchez, Notion of aid: The General Court annuls, for manifest error of appraisal, a decision of the Commission establishing the existence of an advantage in the return on current accounts opened by a public bank (Poste Italiane), 13 September 2013, Concurrences N° 4-2013, Art. N° 59352, p. 132

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