11.6.3.3 Banks without a funding problem

Not all beneficiary banks had funding problems. In several decisions, it is underlined that the beneficiary bank did not have funding problems. For instance, the Commission noted that Commerzbank had a stable base of customer deposits1 and that Landesbank Baden-Württemberg (LBBW) had a diversified financing mix.2 Likewise, the Commission noted that NordLB was well-positioned to fund itself.3 In that case, the Commission noted positively that throughout the crisis the bank was able to issue debt on the capital markets without State support and is in a good position to obtain funding in the future.4 Another example is the decision on the Belgian bank KBC. KBC had a relatively limited reliance on funding from capital markets.5 This was based on the fact that 64% of KBC’s debt instruments were of a duration of longer than 1 year. The decision on KBC also mentions that KBC did not suffer from any liquidity problems. Other examples are the decision on BAWAG (“strong liquidity position”)6 and the 2010 decision on SNS REAAL (“relatively well-diversified funding strategy”).7 In total, there are 9 decisions in which the Commission explicitly indicated that the bank did not have any funding problems.8