Press Release: State aid: Commission approves Polish bank recapitalisation scheme

The European Commission has approved, under EU state aid rules, a Polish scheme aimed at maintaining stability in the Polish financial sector by underwriting capital increases to eligible financial institutions. This scheme complements the liquidity support granted under the support scheme for banks' funding in Poland. The Commission found the recapitalisation scheme to be in line with its Guidance Communications on state aid to overcome the financial crisis. In particular, the scheme is limited in time and scope, requires market oriented remuneration and contains sufficient safeguards to avoid abuses. The Commission therefore concluded that the scheme is an adequate measure to remedy a serious disturbance of the Polish economy and is as such compatible with Article 107.3.b of the Treaty on the Functioning of the EU (TFEU).

• Primary Source