Press Release: State aid: Commission approves Swedish rescue aid for Carnegie Bank

The European Commission has approved, under EC Treaty state aid rules, emergency liquidity assistance worth €225 million (SEK 2.4 billion) that the Swedish authorities have granted to Carnegie Investment Bank AB. The Commission found the measure to be in line with its Guidance Communication on state aid to overcome the current financial crisis. The measure constitutes an adequate means to remedy a serious disturbance in the Swedish economy while avoiding undue distortions of competition and is therefore compatible with Article 87.3.b. of the EC Treaty. In particular, the measures are limited in time and scope and contain sufficient safeguards to avoid abuses.