Press Release: State aid: Commission authorises amendment of Italian scheme to inject capital in credit institutions

The European Commission approved, under EC Treaty state aid rules, amendments to the Italian recapitalisation scheme which was approved by the Commission on 23 December 2008. The changes essentially give banks another option for remunerating bonds. The modified scheme is consistent with the Commission's guidance on support measures for banks during the financial crisis. It provides in particular for an adequate remuneration of the state intervention and appropriate incentives for an early exit of the aid scheme. The modified measures are therefore compatible with Article 87.3.b of the EC Treaty allowing aid to remedy a serious disturbance in a Member State's economy.