Press Release: State aid: Commission approves Hungarian liquidity support scheme

The European Commission has approved under EU state aid rules a Hungarian measure aimed at providing liquidity to eligible financial institutions in Hungary to support lending to the economy. The Commission is satisfied that the measure is compatible with Article 107(3)(b) of the Treaty on the Functioning of the European Union (TFEU). In particular, the measure is appropriate, necessary and proportional to support the Hungarian financial system against the exceptional turbulence encountered by Hungarian banks in the midst of the global financial crisis, while limiting distortions of competition.

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