Press Release: State aid: Commission extends in-depth investigation into the orderly resolution plan of the Dexia group and temporarily approves prolongation of the refinancing guarantee to Dexia SA and DCL

The Commission has decided to extend its in-depth investigation procedure into Dexia SA and its subsidiary Dexia Crédit Local (DCL) in order to examine formally the orderly resolution plan of the Dexia group submitted by Belgium, France and Luxembourg on 21 and 22 March 2012. It has also invited the three Member States to comment on Arcofin's recapitalisation of Dexia SA in October 2008. Moreover, in a separate decision, the Commission has decided to approve a prolongation until 30 September 2012 of the €45 billion guarantee granted by the three Member States to Dexia SA and DCL to cover the group's refinancing needs.