Commission Decision (EU) 2015/657 of 5 February 2013 on State aid granted by Germ... (32015D0657)
Commission Decision (EU) 2015/657 of 5 February 2013 on State aid granted by Germany and Austria to Bayerische Landesbank (Case SA.28487 (C 16/09, ex N 254/09)) (notified under document C(2013) 507) (Text with EEA relevance)
- COMMISSION DECISION (EU) 2015/657
- of 5 February 2013
- on State aid granted by Germany and Austria to Bayerische Landesbank (Case SA.28487 (C 16/09, ex N 254/09))
- (notified under document C(2013) 507)
- (Only the German text is authentic)
- (Text with EEA relevance)
- 1.
- PROCEDURE
- 2.
- THE FACTS
- 1.
- Description of the beneficiary
- (12)
- 2.
- The aid measures
- (a)
- The capital injection
- (b)
- The EUR 4,8 billion risk shield
- (c)
- The liability guarantees
- (d)
- The funding guarantee for liquidity granted by Austria
- (e)
- The BayernLabo capital transferred to BayernLB
- 3.
- The restructuring plan notified by Germany
- (a)
- Description of the business model
- (b)
- Reduction of business activities
- (c)
- Regional focus
- (d)
- Capital-enhancing measures
- (e)
- Description of the financial planning
- —
- Assumptions
- —
- Financial projections
- —
- Business areas projections and profitability
- —
- Funding
- —
- MKB
- —
- EBA stress test
- —
- Regulatory assumptions
- (f)
- Additional risk position reduction
- 4.
- Repayment schedule
- 5.
- Commitments provided by Germany
- 3.
- SUMMARY OF THE OPENING DECISION AND ITS EXTENSION
- 4.
- COMMENTS FROM GERMANY
- 5.
- ASSESSMENT OF THE AID TO BAYERNLB
- 1.
- Existence of State aid
- (a)
- The recapitalisation by the Land of Bavaria
- (b)
- The risk shield
- (c)
- The liability guarantees
- (d)
- The Austrian rescue measures
- (e)
- BayernLabo capital transferred to BayernLB
- (f)
- Conclusion as to the total amount of aid
- 2.
- Compatibility of the aid
- (a)
- Application of Article 107(3)(b) of the Treaty
- (b)
- Compliance of the impaired asset measure with the Impaired Assets Communication
- (c)
- Compatibility of the restructuring aid
- 6.
- ADVANTAGE TO THE SAVINGS BANKS ASSOCIATION
- Article 1
- Article 2
- Article 3
- Article 4
- Article 5
- ANNEX I
- A.
- GENERAL COMMITMENTS
- B.
- REDUCTION OF BALANCE SHEET TOTAL/RESTRICTION OF BUSINESS ACTIVITIES
- C.
- CLOSURE OF LOCATIONS/DIVESTMENT OF SHAREHOLDINGS
- D.
- OTHER BEHAVIOURAL OBLIGATIONS/CORPORATE GOVERNANCE
- E.
- CONTRIBUTION BY THE BAVARIAN SAVINGS BANKS
- F.
- BAYERNLABO
- G.
- REMUNERATION OF THE GUARANTEE/CLAW-BACK
- H.
- REPAYMENT OF BAVARIA'S SILENT PARTICIPATION OF EUR 3 BILLION
- ANNEX II
- CONDITIONS
- ANNEX III
- FURTHER REDUCTION IN HOLDINGS
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