Commission approves prolongation of Polish bank guarantee scheme

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. In February 2012, the pricing conditions of the scheme were brought in line with the requirements of the Commission’s2011 Communication on state aid to banks during the crisis. Other conditions of the original scheme remain unchanged. The 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 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. More information will be available on the Commission’s competition website, in the public case register, under the case number SA.43924.