12/23/2015 15:56
The letter of 19 November Padoan
(Il Sole 24 Ore Thomson Financial) – Milan, Dec. 23 – “If a state
member decides to use a mechanism of deposit guarantee
to recapitalize a bank, which as indicated rightly
your services and ‘allowed under Article 11
the directive on deposit guarantee mechanism,
Nevertheless, the involvement of such a mechanism and ‘subject
European rules on state aid contained in
Communication on the banks. “And ‘what they write
Margrethe Vestager and Jonathan Hill, the EU Commissioners
Competition and Stability ‘financial, in the letter
sent to the Minister of Economy Pier Carlo Padoan 19
November, shortly before then, of government intervention that
saved Banca Marche, Banca Etruria, and CariChieti
CariFerrara through activation of the bail-in, which has
caused the loss of investment for holders
subordinated bonds. According to the government and ‘it was this
letter dated 19 November to prevent a less bloody solution
through the use of the Deposit Protection Fund (FITD).
“If an assessment leads to the conclusion that the use of
mechanism of deposit insurance is state aid
- Reads the letter of Commissioners – then it will be ‘made
take the resolution of the bank under the Directive
the recovery and resolution of banks that defines
the “extraordinary public financial support” as “” help
status … in order to preserve or restore the
sustainability ‘, liquidity’ or solvency ‘of an institution
financial “. Therefore, the commissioners added,” would
applying the conditionality ‘based on the Directive on
recovery and resolution of banks “. If you use
the protection fund would not be considered as aid
state but as a purely private action, then
would trigger the Directive on the reorganization and
bank resolution.
Cop
(RADIOCOR) 12/15/23 15:56:15 (0304) 3 NNNN


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