| Author (Corporate) | European Commission: DG Communication |
|---|---|
| Series Title | Press Release |
| Series Details | IP/13/1173 (27.11.13) |
| Publication Date | 27/11/2013 |
| Content Type | News |
|
On 27 November 2013 the European Commission approved under EU state aid rules the orderly resolution of Crédit Immobilier de France (CIF) for reasons of financial stability. France will provide up to €28 billion of state guarantees to fund the orderly resolution. According to the resolution plan CIF will cease any new business and run off its assets over a period of up to 22 years. This will eliminate any distortions of competition caused by the state guarantee. |
|
| Source Link | Link to Main Source http://europa.eu/rapid/press-release_IP-13-1173_en.htm |
| Subject Categories | Business and Industry, Internal Markets |
| Countries / Regions | Europe, France |
