Brussels, 29/06/2012 (Agence Europe) - On Friday 29 June, the European Commission temporarily authorised an impaired asset measure and an asset relief measure in favour of FIH Erhvervsbank A/S. The public support measures were approved for a period of six months in order to preserve financial stability. In parallel, the Commission opened a formal investigation because it is concerned that the State may not be adequately remunerated for its support and because of the risks remaining in FIH's balance sheet.
FIH issued state guaranteed bonds of approximately DKK 42 billion (€5.7 billion) which will expire in 2012 and 2013. The guarantees were provided within the framework of the Danish Guarantee Scheme approved by the European Commission in 2008. The measures approved comprise an impaired asset measure in the amount of DKK 2 billion (€269 million) and an asset relief measure amounting to DKK 17.1 billion (€2.315 billion). (LC/transl.jl)