On Tuesday, 3 March, the European Commission initiated a call for evidence from stakeholders on the revision of a June 2008 notice (see EUROPE 9666/32) that establishes, based on specific criteria, to what extent a State guarantee does not constitute undue State aid.
In an evaluation published in October 2025 (see EUROPE 13730/26), the EU institution had identified possible improvements to the current guidelines, including updating the parameters to be taken into account so as to ensure the amount of aid given to final beneficiaries is properly accounted for.
The consultation is open until the end of March. In its consultation document, the European Commission also notes that the ‘fixed safe-harbour premium’ option for SMEs tends to produce higher premiums than those in line with market conditions. It adds that such a situation causes the amount of public aid to be overestimated or produces more onerous conditions than those that the market would require for aid-free measures.
Sometime in 2026, the European Commission will draft a revision of the 2008 notice, which will then be submitted for stakeholder consultation. The goal is to finalise the revised framework for State guarantees by June 2027.
The notice’s revision will also aim to reduce costs for guarantors and borrowers, for instance, through new frameworks for sharing information and a higher degree of standardisation as well as solutions to implementation and interpretation issues that were identified in practice.
See the consultation document: https://aeur.eu/f/kzr (Original version in French by Mathieu Bion)