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Banks: prolongation Polish scheme approved by EU Commission

In line with state aid rules

03 February, 11:54

(ANSA) - BRUSSELS - The European Commission has authorised under EU state aid rules the prolongation of the Polish bank guarantee scheme until 30 June 2016. The scheme covers guarantees and other liquidity support measures in favour of solvent credit institutions in Poland. It was initially approved in September 2009 and prolonged several times, last time in August 2015.

The EU Commission found the prolongation of the scheme to be in line with its guidelines on state aid to banks during the crisis because it is well targeted, proportionate and limited in time and scope. During the application of the extraordinary crisis rules for state aid to banks, the EU Commission is authorising guarantee schemes on banks' liabilities for periods of six months in order to be able to monitor developments and adjust conditions accordingly. (ANSA).

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