State aid: Overview of national measures adopted as a response to the financial and economic crisis
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1 MEMO/09/174 Brussels, 22 April State aid: Overview of national measures adopted as a response to the financial and economic crisis (See table attached in annex) This information is compiled from a range of sources and is provided for information only. The European Commission cannot confirm the completeness or accuracy of the information.
2 Communications from the Commission to provide guidance to Member States Communication from the Commission The application of State aid rules to measures taken in relation to financial institutions in the context of the current global financial crisis, 13 October 2008 (see IP/08/1495) Communication from the Commission The recapitalisation of financial institutions in the current financial crisis: limitation of aid to the minimum necessary and safeguards against undue distortions of competition, 5 December 2008 (see IP/08/1901) Communication from the Commission - Temporary framework for State aid measures to support access to finance in the current financial and economic crisis, 17 December 2008 (see IP/08/1993). Amendment of the Temporary Framework, 25 February. Communication from the Commission - Temporary framework for State aid measures to support access to finance in the current financial and economic crisis (consolidated version) OJ C83 of Communication from the Commission on the Treatment of Impaired Assets in the Community Banking Sector, 25 February (see IP/09/322).
3 Cases of state aid for financial sector - situation as of 22 April Decisions adopted by the Commission in 2008/ Member State Type of measure / Beneficiary Type of Decision Date of adoption 1 Austria Aid scheme for the Austrian financial sector (guarantees, recapitalisation & other) 2 Belgium/France/ Luxembourg Guarantee on liabilities of Dexia IP/08/1933 IP/08/ December November Belgium/France/ Luxembourg 4 Belgium/Luxembourg /Netherlands Guarantee in favour of Dexia on certain assets in FSA Measures in favour of Fortis IP/09/399 IP/08/ March 19 November Belgium/Luxembourg /Netherlands Restructuring aid to Fortis Bank and Fortis Bank Luxembourg IP/08/ December Belgium Recapitalisation measure in favour of KBC 7 Belgium Capital injection for Ethias group 8 Denmark Rescue aid to Roskilde Bank IP/08/2033 IP/09/254 (IP/08/1222) 18 December February 31 July Denmark Liquidation aid Roskilde bank 10 Denmark Guarantee scheme for banks in Denmark 11 Denmark Recapitalisation scheme and amendment of the guarantee scheme IP/08/1633 IP/08/1483 raise objectives IP/09/ Finland Finnish guarantee scheme IP/08/ Finland Guarantee for Kaupthing Bank Finland 14 France Financial support measures to the banking industry in France (Refinancing) IP/09/82 IP/08/ November October February 14 November January October
4 15 France Financial support measures to the banking industry in France (Recapitalisation) Amendment to the Decision Amendment to the Decision 16 Germany Restructuring aid to Sachsen LB 17 Germany Restructuring aid to IKB 18 Germany Rescue aid to Hypo Real Estate Holding 19 Germany Aid scheme for financial institutions in Germany (guarantees, recapitalisations & other) IP/08/1900 IP/09/158 IP/09/461 Conditional decision (after formal investigation procedure IP/08/849 Conditional decision (after formal investigation procedure) IP/08/1557 IP/08/1453 IP/08/ December January 23 March 4 June October October October 2008 Amendment to the Decision IP/08/ Germany Guarantee and recapitalisation for Bayern LB IP/08/ Germany Guarantee for NordLB IP/08/ Germany Guarantee for IKB IP/08/ December December Germany Guarantee for SdB Sicherungseinrichtungsgesells chaft deutscher Banken mbh 24 Greece Aid scheme to the banking industry in Greece (guarantees, recapitalisation & other) 25 Hungary Support package for Hungarian financial institutions in form of recapitalisation and guarantee scheme 26 Ireland Guarantee scheme for banks in Ireland IP/09/114 IP/08/1742 IP/09/253 IP/08/ January 19 November February 13 October
5 27 Ireland Recapitalisation of Anglo Irish Bank 28 Ireland Recapitalisation of Bank of Ireland 29 Italy Guarantee scheme for Italian banks 30 Italy Recapitalisation scheme IP/09/50 IP/09/483 IP/08/1706 IP/08/ January 26 March 14 November December 2008 Amendment to the Decision IP/09/ Latvia Public support measures to Parex Banka IP/08/ Latvia Guarantee scheme for banks IP/08/ Netherlands Guarantee scheme for Dutch financial institutions IP/08/ Netherlands Measure in favour of ING IP/08/ Netherlands Measure in favour of Aegon IP/08/ Netherlands SNS Reaal/New capital injection by Dutch authorities IP/08/ Netherlands ING Illiquid asset facility IP/09/ Portugal Guarantee scheme for credit institutions in Portugal IP/08/ February 24 November October November November December March 29 October Portugal State guarantee for Banco Privado Português 40 Slovenia Guarantee scheme for credit institutions in Slovenia 41 Spain Fund for the Acquisition of Financial Assets in Spain 42 Spain Spanish guarantee scheme for credit institutions 43 Sweden Support measures for the banking industry in Sweden Amendment to the decision 44 Sweden Emergency rescue measures regarding Carnegie Investment Bank IP/09/400 IP/08/1964 IP/08/1630 IP/08/2049 IP/08/1600 IP/09/186 IP/08/ March 12 December November October January 15 December
6 45 Sweden Swedish recapitalisation scheme 46 United Kingdom Rescue aid to Bradford and Bingley 47 United Kingdom Aid scheme to the banking industry in the UK (guarantees, recapitalisation & other) Amendment to the Decision IP/09/241 IP/08/1437 IP/08/1496 IP/08/ February 1 st October October 2008 Prolongation 48 United Kingdom Homeowners mortgage support scheme 49 United Kingdom Asset - Backed Securities Guarantee Scheme IP/09/586 IP/09/602 IP/09/ April 20 April 21 April Remark: As a general rule, each of these schemes is reviewable after six months. This means that the first wave of reviews will start as from April. Also some of the individual decisions are subject to a review and possible restructuring plan. Cases currently under formal investigation procedure (in-depth investigation under the EC Treaty s rules on state aid) Country Type of measure / Beneficiary Date of decision regarding the opening of formal investigation 1 Germany Restructuring of West LB 1 October 2008 (IP/08/1435) 2 United Kingdom Restructuring aid for Northern Rock 2 April 2008 (IP/08/489) 3 Belgium/France/ Restructuring of Dexia 13 March Luxembourg IP/09/399 4 Netherlands ING Illiquid asset facility 31 March IP/09/514 5 Netherlands State measures in favour of Fortis Bank Nederland (FBN) and the activities of ABN Amro 8 April IP/09/565 5
7 Real economy cases falling under the Temporary Framework - situation as of 22 April Decisions adopted by the Commission in 2008/ Member State Type of measure / Beneficiary Type of decision Date of adoption 1 Austria N 47/a/- Temporary scheme (aid 20 March 2 Austria N 47/d/- Temporary scheme (risk capital) 3 Belgium N 117/- Temporary scheme (subsidised guarantees) 4 France N 7/ Temporary scheme (aid 5 France N 15/ - Temporary scheme (reduced interest rates) IP/09/454 IP/09/484 IP/09/447 IP/09/72 IP/09/ March 20 March 19 January 4 February 6 France N 11/ - Temporary scheme (reduced interest rates to producers of green products) 7 France N 23/ - Temporary scheme (subsidised guarantees) 8 France N 119/ - modification of French risk capital scheme 9 Germany N 661/2008 KfW run special program (interest subsidies) 10 Germany N 668/2008 Temporary scheme (limited amount of compatible aid) 11 Germany N 39/ Temporary adaptation of risk-capital schemes 12 Germany N 27/ - Temporary scheme (guarantees) 13 Germany N 38/ - Temporary scheme (reduced interest rates) 14 Hungary N 114/- Temporary scheme (guarantees) 15 Hungary N 77/ - Temporary scheme (aid 16 Hungary N 78/ Temporary scheme (subsidised interest rates) IP/09/205 IP/09/332 IP/09/406 (IP/08/2063) IP/08/2063 IP/09/214 IP/09/331 IP/09/296 IP/09/387 IP/09/325 IP/09/325 3 February 27 February 16 March 30 December December February 27 February 19 February 10 March 24 February 24 February 6
8 17 Ireland N 186/ Temporary scheme (aid 18 Latvia N 124/ Temporary scheme (aid 19 Luxembourg N 99/ Temporary scheme (aid 20 Luxembourg N 128/ Temporary scheme (guarantees) 21 Luxembourg N 50/ Temporary scheme (export-credit insurance) 22 Netherlands N 156/ Temporary scheme (aid 23 Portugal N 13/ Temporary scheme (aid 24 Spain N 140/ Temporary scheme (aid for green cars) 25 United Kingdom N 43/ Temporary scheme (aid 26 United Kingdom N 71/ Temporary scheme (guarantees) 27 United Kingdom N 72/ Temporary scheme (to businesses producing green products) IP/09/585 IP/09/442 IP/09/334 IP/09/392 IP/09/603 IP/09/527 IP/09/71 IP/09/499 IP/09/215 IP/09/333 IP/09/ April 19 March 26 February 11 March 20 April 1 April 19 January 29 March 4 February 27 February 27 February 7
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