Press Release: State Aid: Commission approves additional aid for IKB

On 17 August, 2009, the European Commission approved, under EC Treaty state aid rules, guarantees amounting up to EUR 7 billion to the German bank IKB, a bank that received aid in the past, in the context of the financial crisis. Additional support became necessary to protect IKB's liquidity and financial stability in Germany. After obtaining a commitment from Germany to provide a revised restructuring plan within three months, the Commission considered the measure as compatible with Article 87.3.b of the EC Treaty, in line with its Banking communication.