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Image header Agence Europe
Europe Daily Bulletin No. 11639
Contents Publication in full By article 19 / 30
ECONOMY - FINANCE - BUSINESS / State aid

Green light to Croatian bank resolution scheme

On Wednesday 5 October, the European Commission announced that it had approved a Croatian bank resolution scheme, to be used for smaller banks with total assets not exceeding €1.5 billion. This support measure would be used only if these banks were considered to be in distress by the competent national authorities. The resolution scheme will use the tools available in the framework of the Bank Recovery and Resolution Directive (BRRD) (2014/59). In particular, the Commission explains, as required by the state aid rules, the support would be limited to the minimum necessary, with the provisions of the BRRD applicable, to facilitate an orderly exit of a failing bank from the market. The Commission's authorisation will be valid for six months, but may be prolonged following a further assessment by the Commission.  (Original version in French by Elodie Lamer)

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