State aid: Commission approves prolongation of the Polish resolution scheme for cooperative and small commercial banks

The European Commission has approved, under EU State aid rules, the prolongation of the Polish resolution scheme for twelve months until 29 October 2021. The scheme was initially approved in December 2016. It has been prolonged four times, last time in April 2020. This fifth prolongation does not introduce any changes to the previous scheme. The measure will continue to be available for cooperative banks and small commercial banks with total assets below €3 billion, only if they are placed in resolution by the competent national authorities. The objective of the scheme is to facilitate the work of the Polish resolution authorities, should a concrete case and need arise for it. The Commission found the prolongation of the scheme to be in line with EU State aid rules, in particular the 2013 Banking Communication and EU banking rules. More information will be available on the Commission’s competition website in the case register under the case SA.58389 once any confidentiality issues have been resolved.