2012/118/EU: Commission Decision of 18 July 2011 on State aid C 15/09 (ex N 196/0... (32012D0118)
2012/118/EU: Commission Decision of 18 July 2011 on State aid C 15/09 (ex N 196/09), which Germany implemented and is planning to implement for Hypo Real Estate (notified under document C(2011) 5157) Text with EEA relevance
- COMMISSION DECISION
- of 18 July 2011
- on State aid C 15/09 (ex N 196/09), which Germany implemented and is planning to implement for Hypo Real Estate
- (notified under document C(2011) 5157)
- (Only the German text is authentic)
- (Text with EEA relevance)
- (2012/118/EU)
- I.
- PROCEDURE
- II.
- THE BENEFICIARY AND THE AID MEASURES
- II.1.
- The beneficiary
- II.2.
- HRE’s difficulties in the context of the financial crisis
- II.3.
- The State aid measures
- II.3.1.
- Capital injections
- II.3.1.1.
- Capital injection of EUR 60 million
- II.3.1.2.
- Capital injection of EUR 2,96 billion
- II.3.1.3.
- Capital injection of EUR 3 billion
- II.3.1.4.
- Capital injection of up to EUR 1,85 billion
- II.3.1.5.
- Capital injection of EUR 2,08 billion
- II.3.2.
- Guarantees
- II.3.2.1.
- Guarantees of EUR 35 billion
- II.3.2.2.
- Guarantees of EUR 52 billion
- II.3.2.3.
- Guarantee of EUR 8 billion
- II.3.2.4.
- Guarantee of EUR 10 billion
- II.3.2.5.
- Guarantee of EUR 20 billion
- II.3.2.6.
- Guarantee of up to EUR 20 billion
- II.3.3.
- Transfer of assets to a winding-up institution
- II.4.
- Grounds for initiating and extending the in-depth investigation
- II.5.
- Main features of the restructuring plan
- III.
- COMMENTS FROM INTERESTED PARTIES
- IV.
- COMMENTS FROM GERMANY ON THE COMMENTS FROM INTERESTED PARTIES
- V.
- POSITION OF GERMANY
- VI.
- ASSESSMENT OF THE AID
- VI.1.
- Existence of State aid under Article 107(1) TFEU and potential beneficiaries
- VI.2.
- Compatibility of the aid with the internal market
- VI.2.1.
- Application of Article 107(3)(b) TFEU
- VI.2.2.
- Assessment on the basis of the Impaired Asset Communication (IAC)
- VI.2.3.
- Compatibility with the Restructuring Communication
- VI.2.3.1.
- Restoration of the long-term viability of PBB
- VI.2.3.2.
- Own contribution/burden sharing
- VI.2.3.3.
- Measures limiting the distortion of competition
- VII.
- MONITORING
- VIII.
- CONCLUSION
- Article 1
- Article 2
- Article 3
- ANNEX
- COMMITMENTS DOCUMENT IN STATE AID PROCEEDINGS SA.28264 (C 15/09) HYPO REAL ESTATE — GERMANY
- 1.
- General
- 2.
- Restriction of new business to the PBB sub-group
- 3.
- Reprivatisation of the PBB sub-group
- 4.
- Restriction of growth of the PBB sub-group
- 5.
- Active reduction of the business activities of the DEPFA plc sub-group
- 5.1.
- Business activities of the DEPFA plc sub-group
- 5.2.
- Sale of DEPFA plc or participations held by DEPFA plc (HPFB, HPBI and ACS)
- 5.3.
- Sale of credit portfolios
- 6.
- Winding-up institution
- 7.
- Active reduction and run-down of business lines
- 8.
- Reduction in market presence
- 8.1.
- Reduction in market presence in the public investment finance and budget finance business lines
- 8.2.
- Reduction in market presence in the real estate finance business line
- 8.3.
- Reactivation of branches or sales offices
- 8.4.
- Restriction of the countries with new business activity
- 9.
- Own contribution
- 9.1.
- Remuneration for using the winding-up institution
- 9.2.
- Restrictions regarding coupon payments and profit distributions
- 9.3.
- Restrictions regarding paybacks
- 10.
- Other commitments
- 10.1.
- Sound, prudent business policy, taking into account the borrowing requirement of the EU economy
- 10.2.
- Ban on advertising with State support
- 10.3.
- Acquisition ban
- 10.4.
- Commitments relating to information technology of HRE/PBB
- 10.5.
- Commitment relating to RAROC
- 11.
- Terms and conditions of divestiture
- 12.
- Monitoring Trustee
- ANNEX
- THE TRUSTEE
- A.
- Appointment
- B.
- Duties and obligations of Trustees
- C.
- Duties and obligations of HRE
- D.
- Replacement, discharge and reappointment of the Trustee
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