20/08/2009 (Agence Europe) - On 17 August, the Commission approved an extension of the Danish support scheme to credit institutions. The recapitalisation programme (see EUROPE 9833) will now continue until 20 December 2009, whilst the guarantee scheme will be extended by six months. The initial approval of this latter measure by the Commission, on 10 October 2008, was valid for two years (EUROPE 9760). The authorisation of 17 August also includes a modification to the recapitalisation programme, which gives credit institutions (banks, insurance, mortgage companies etc) issuing hybrid capital notes the option to convert them into ordinary shares. Capital is deemed to be hybrid when it combines shares and debts, allowing companies to access a less expensive investment option than simply selling off shares, whilst providing greater flexibility than straight loans. (C.D./trans.fl)