11.7.4 Concluding remarks

The Commission welcomes cost-cutting measures (see subsection 11.7.1). Thus, the fact that the bank has implemented cost-cutting measures is a relevant characteristic, but the same cannot be said for the modalities of the cost-cutting measures, such as the extent of cost-cutting. Although the extent of cost-cutting is mentioned in the decision, it is not explicitly taken into account in the assessment of the viability and burden-sharing (see subsection 11.7.3). There are a few exceptions, such as the aforementioned example of BayernLB. In my opinion, the decision on BayernLB shows how – in future bank State aid cases – the Commission should take into account the modalities of the cost-cutting measures.