State aid: Commission finds Portuguese recapitalisation of Caixa Geral de Depósitos involves no new aid

On March 2017 the European Commission found Portugal's plans to strengthen the capital position of fully state-owned Caixa Geral de Depósitos (CGD) by €3.9 billion are in line with EU state aid rules. The measures are carried out on market terms and therefore involve no new aid in favour of the bank.

• Primary Source

ESO: Background information: Press Release: State aid: Commission finalises discussions on restructuring plans for Portuguese banks CGD, Banco BPI, BCP http://www.europeansources.info/record/press-release-state-aid-commission-finalises-discussions-on-restructuring-plans-for-portuguese-banks-cgd-banco-bpi-bcp/

ESO: Background information: Competition policy http://www.europeansources.info/record/competition-policy-3/

European Commission: DG Communication MEMO/17/557, 10.03.17: State aid: Commission clearance of Portuguese recapitalisation of Caixa Geral de Depósitos (CGD) - how the rules apply to bank recapitalisations http://europa.eu/rapid/press-release_MEMO-17-557_en.htm

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