Memo: State aid: Commission adapts crisis rules for banks – frequently asked questions

In 2008-2009, following the collapse of Lehman Brothers, the Commission adopted a comprehensive framework for coordinated action to support the financial sector during the crisis, so as to ensure financial stability while minimising distortions of competition between banks and across Member States in the single market.

It spells out common conditions at EU level on how Member States can support banks hit by the crisis in line with EU state aid principles and comprises the Banking Communication, the Recapitalisation Communication, the Impaired Assets Communication and the Restructuring Communication ('Crisis Communications').

The 'Crisis Communications' have been updated several times to adapt to the evolution of the crisis - in 2009, in 2010, and a third time in July 2013 through the adoption of a new Banking Communication.

ESO: Background information: State aid: Commission adapts crisis rules for banks http://www.europeansources.info/record/press-release-state-aid-commission-adapts-crisis-rules-for-banks/

---