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Image header Agence Europe
Europe Daily Bulletin No. 10872
Contents Publication in full By article 13 / 37
ECONOMY - FINANCE - BUSINESS / (ae) state aid

Restoring of HSH Nordbank guarantee

Brussels, 21/06/2013 (Agence Europe) - On Friday 21 June, the European Commission provisionally approved the restoring of the guarantee provided by the regions of Hamburg and Schleswig-Holstein in Germany for HSH Nordbank from €7 billion to the original €10 billion under EU aid rules. The restoring of the guarantee framework to its former level by its majority shareholders will ensure that the bank has adequate capital ratios against a background of increased demands on the capital base and the ongoing crisis in shipping markets. The Commission's approval is provisional pending a final decision. At the same time, the Commission opened an in-depth investigation to assess whether the measure is in line with EU state aid rules. The Commission has doubts about whether, given changed market circumstances, the restoring of the guarantee is still covered by its earlier decision and whether it is appropriate. (LC/transl.fl)

 

Contents

ECONOMY - FINANCE - BUSINESS
SECTORAL POLICIES
EXTERNAL ACTION