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Commission approves prolongation of #Poland resolution scheme for co-operative and small commercial banks
The European Commission has approved, under EU state aid rules, the prolongation of the Polish resolution scheme for six months. The scheme was initially approved in December 2016. It has been prolonged three times, last time in October 2019. This fourth prolongation also sets out the criteria for equity injections to bridge institutions.
In addition, in line with the 2013 Banking Communication, the prolongation will allow for a longer period for the sale of bridge institutions and for the provision of liquidity support to such institutions. 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.56141 once any confidentiality issues have been resolved.
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