The European Commission has approved under EC state aid rules a
Polish scheme for financial institutions in the times of financial
crisis.
The Commission approved the measure, as it provides for
non-discriminatory access for eligible financial institutions
having its seat in Poland, is limited in time and scope and
includes safeguards to minimise distortions of competition.
The scheme foresees two categories of support measures
concerning the financial crisis:
- State Treasury guarantees for the issuance of new senior debt
by banks, and
- liquidity support measures in the form of Treasury bonds,
either as a loan or to be sold with deferred payment.
The guarantees and loans will be provided with respect to
measures with maturity from three months up to five years. In case
the maturity exceeds three years, the bank loan will be restricted
to maximum 1/3 of the value of all the beneficiary's bank loans
that are supported by the scheme.
