The EU Court of Justice confirms the validity of the EU Commission’s 2013 Banking Communication (Kotnik)

In its judgment of 19 July 2016, the Court of Justice of the European Union confirmed that the European Commission’s 2013 Banking Communication is not contrary to EU law. The Court clarified that the burden-sharing requirements do not apply automatically and that in exceptional cases the Commission could approve State aid which does not meet the conditions of the Banking Communication. The judgment also endorses the cross border recognition of regulatory measures effecting burden-sharing. The Banking Communication The 2013 Banking Communication (the “Banking Communication”) [1] was intended as an evolution in the crisis rules for restructuring banks in difficulty. These rules adopted by the Commission provide guidance on the criteria for the compatibility of State aid with the internal

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Auteur

  • Shearman & Sterling (London)

Citation

James Webber, The EU Court of Justice confirms the validity of the EU Commission’s 2013 Banking Communication (Kotnik), 19 juillet 2016, e-Competitions July 2016, Art. N° 81142

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