Deputy Director General – State Aids, European Commission – DG Competition
New State Aid rules for banks have entered into force on 1 August 2013. These new rules aim at ensuring faster decision making and greater burden sharing in bank restructuring and resolution. Pending the adoption of the BRRD (and the SRM) these rules constitute the main co-ordination mechanism in the internal market for such operations. All new cases, including those emanating from stress test exercises will be subject to these new rules. Early contacts with the Commission are strongly encouraged to facilitate the treatment of potential cases. Drawing on case practice now covering 25% of all EU banks (by assets), the Commission will pro-actively provide guidance and support.
9. September 2013