Authorisation for State aid pursuant to Articles 87 and 88 of the EC Treaty — Cases where the Commission raises no objections (Text with EEA relevance )
Date: 2009-06-27
Institutions: European Commission
Subjects: Germany, Hungary, Latvia, State aid, United Kingdom, control of State aid, economic recession, exchange of information, financial institution








C_2009147EN.01000101.xml










27.6.2009   


EN


Official Journal of the European Union


C 147/1





Authorisation for State aid pursuant to Articles 87 and 88 of the EC Treaty
Cases where the Commission raises no objections
(Text with EEA relevance)
2009/C 147/01






Date of adoption of the decision


24.11.2008




Reference number of State aid


NN 68/08




Member State


Latvia




Region


—




Title (and/or name of the beneficiary)


Public support measures to JSC Parex Banka




Legal basis


Law on Budget and Financial Management




Type of measure


Individual aid




Objective


Aid to remedy serious disturbances in the economy




Form of aid


Guarantee, Other forms of equity intervention, Soft loan




Budget


Overall budget: LVL 945 million




Intensity


100 %




Duration (period)


11.11.2008-11.5.2009




Economic sectors


Financial intermediation




Name and address of the granting authority







Ministry of Finance




Smilšu 1




Rīga, LV-1919




LATVIJA








Other information


—




The authentic text(s) of the decision, from which all confidential information has been removed, can be found at:
http://ec.europa.eu/community_law/state_aids/index.htm






Date of adoption of the decision


21.4.2009




Reference number of State aid


N 664/08




Member State


Hungary




Region


—




Title (and/or name of the beneficiary)


Support measure for the banking industry in Hungary




Legal basis


Reinforcement of the Stability of the Financial Intermediary System (2008. évi CIV. törvény a pénzügyi közvetítőrendszer stabilitásának erősítéséről)




Type of measure


Aid scheme




Objective


Aid to remedy serious disturbances in the economy




Form of aid


Guarantee, Recapitalisation




Budget


Overall budget: HUF 300 billion for the recapitalisation and HUF 1 500 billion for the guarantee




Intensity


—




Duration (period)


Recapitalisation: 31 March 2009
Guarantee measure: 30 June 2009




Economic sectors


Financial intermediation




Name and address of the granting authority


Ministry of Finance




Other information


—




The authentic text(s) of the decision, from which all confidential information has been removed, can be found at:
http://ec.europa.eu/community_law/state_aids/index.htm






Date of adoption of the decision


11.2.2009




Reference number of State aid


NN 3/09




Member State


Latvia




Region


—




Title (and/or name of the beneficiary)


Amendments to the Public support measures to JSC Parex Banka




Legal basis


The Government Regulation ‘Issuing and supervision of guarantees for bank loans’, Law on Bank takeover, Parex investment agreement, Individual decision taken by the Government




Type of measure


Individual aid




Objective


Aid to remedy serious disturbances in the economy




Form of aid


Guarantee, other forms of equity intervention, soft loan




Budget


Overall budget: LVL 2 245 million




Intensity


—




Duration (period)


11.11.2008-11.5.2009




Economic sectors


Financial intermediation




Name and address of the granting authority







Ministry of Finance




Smilšu 1




Rīga, LV-1919




LATVIJA








Other information


—




The authentic text(s) of the decision, from which all confidential information has been removed, can be found at:
http://ec.europa.eu/community_law/state_aids/index.htm






Date of adoption of the decision


21.4.2009




Reference number of State aid


N 232/09




Member State


United Kingdom




Region


—




Title (and/or name of the beneficiary)


Assets Backed Securities Scheme




Legal basis


Section 228 of the Banking Act 2009




Type of measure


Aid scheme




Objective


Aid to remedy serious disturbances in the economy




Form of aid


Guarantee




Budget


Overall budget: EUR 50 000 million




Intensity


—




Duration (period)


until 22.11.2009




Economic sectors


Financial intermediation




Name and address of the granting authority







HM Treasury




1 Horse Guards Road




London




SW1A 2HQ




UNITED KINGDOM








Other information


—




The authentic text(s) of the decision, from which all confidential information has been removed, can be found at:
http://ec.europa.eu/community_law/state_aids/index.htm






Date of adoption of the decision


7.5.2009




Reference number of State aid


N 244/09




Member State


Germany




Region


—




Title (and/or name of the beneficiary)


Commerzbank




Legal basis


Gesetz sur Errichtung eines Sonderfonds Finanzmarktstabilisierung




Type of measure


Aid scheme




Objective


Aid to remedy serious disturbances in the economy




Form of aid


Direct grant




Budget


Overall budget: EUR 1 820 million




Intensity


—




Duration (period)


—




Economic sectors


Financial intermediation




Name and address of the granting authority







Sonderfonds Finanzmarktstabilisierung (SoFFin)




Finanzmarktstabilisierungsanstalt




Taunusanlage 6




60329 Frankfurt am Main




DEUTSCHLAND








Other information


—




The authentic text(s) of the decision, from which all confidential information has been removed, can be found at:
http://ec.europa.eu/community_law/state_aids/index.htm