Press Release: State aid: Commission approves Dutch emergency recapitalisation of ING

The European Commission approved, under EC Treaty state aid rules, an emergency intervention in the form of recapitalisation, that the Dutch authorities intend to grant to ING Groep N.V.. The Commission found the measure to be in line with its Guidance Communication on state aid to overcome the current financial crisis. The measure constitutes an adequate means to remedy a serious disturbance in the Dutch economy while avoiding undue distortions of competition and is therefore compatible with Article 87.3.b. of the EC Treaty. In particular, the measure is limited in time and scope, requires an adequate remuneration and provides safeguards to minimise distortions of competition.