EU
Commission approves new prolongation of #PolishCreditUnion liquidation scheme
The European Commission has authorized, under EU state aid rules, the ninth prolongation of the Polish credit union liquidation scheme until 15 July 2020.
The measure will continue to be available for credit unions that are member-owned entities and provide loans, savings accounts and payment services only to their membership. Credit unions fall outside the scope of the bank resolution regime in Poland. The Commission found the prolongation of the scheme to be in line with EU state aid rules, in particular its 2013 Banking Communication.
This is because it is well targeted, proportionate and limited in time and scope. The scheme, initially approved in February 2014, has been prolonged several times since then, the last time in August 2018.
More information will be available on the Commission's competition website in the public case register under the case number SA.54734 once any confidentiality issues have been resolved.
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