Press Release: State aid: Commission approves Slovak bank support scheme

The European Commission has approved, under the Treaty on the Functioning of the EU state aid rules, a Slovak scheme aimed at maintaining stability in the Slovak banking sector by providing capital injections and guarantees to eligible financial institutions. After intensive exchanges with the Slovak authorities, the Commission found the scheme to be in line with its Guidance Communications on state aid to overcome the financial crisis. In particular, the measures provide for non-discriminatory access, are limited in time and scope, require market oriented remuneration and contain sufficient safeguards to avoid abuses. The Commission therefore concluded that the package was an adequate means to remedy a serious disturbance of the Slovak economy and as such is compatible with Article 107.3.b of the Treaty on the Functioning of the EU.