Einde inhoudsopgave
State aid to banks (IVOR nr. 109) 2018/12.3.1
12.3.1 Why is this a relevant characteristic?
mr. drs. R.E. van Lambalgen, datum 01-12-2017
- Datum
01-12-2017
- Auteur
mr. drs. R.E. van Lambalgen
- JCDI
JCDI:ADS588250:1
- Vakgebied(en)
Financieel recht / Europees financieel recht
Mededingingsrecht / EU-mededingingsrecht
Voetnoten
Voetnoten
Unlike the R&R-guidelines, the Crisis Communications do not require an own contribution of 50%. See also: WestLB, C43/2008, 12 May 2009, para. 78-79.
OVAG, SA.31883, 19 September 2012, para. 113; NordLB, SA.34381, 25 July 2012, para. 152; Sparkasse KolnBonn, C32/2009, 29 September 2010, para. 89; Monte dei Paschi di Siena (MPS), SA.36175, 27 November 2013, para. 144; CatalunyaBanc, SA.33735, 28 November 2012, para. 174.
In the decision on Commerzbank, the Commission explained that the sale of assets would lead to a reduction of the bank’s RWA and to an increase of the bank’s own funds (in case the assets are sold at a price exceeding their book value). Both these effects improve the capital ratios. See: Commerzbank, N244/2009, 7 May 2009, para. 106.
In section 11.8, it was explained that many beneficiary banks divested non-core activities. Divestments are not only relevant for the return to viability, they are also relevant for another reason: they constitute an own contribution of the beneficiary bank. Pursuant to point 24 of the Restructuring Communication, the bank should use its own resources to finance restructuring.1 This can be achieved selling assets. Many decisions contain the standard consideration that “the divestments of profitable non-core subsidiaries will generate proceeds, which can be used to finance the restructuring costs”.2 The fact that the beneficiary bank is divesting subsidiaries is thus a relevant characteristic.3