Press Release: State aid: Commission approves the provisional restoring to former level of a guarantee of German bank HSH Nordbank

The European Commission has provisionally approved the restoring of the guarantee provided by the regions of Hamburg and Schleswig-Holstein in favour of HSH Nordbank from EUR 7 billion to the original framework of EUR 10 billion under EU aid rules. The restoring of the guarantee framework to its former level by its majority shareholders will ensure that the bank has adequate capital ratios against a background of increased demands on the capital base and the ongoing crisis in shipping markets. The Commission's approval is provisional pending a final decision.

• Primary Source

ESO: Background Information: State aid: Commission approves restructuring of HSH Nordbank, subject to conditions http://www.europeansources.info/record/press-release-state-aid-commission-approves-restructuring-of-hsh-nordbank-subject-to-conditions/

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