Press Release: State aid: Commission opens in-depth investigation into public support measures in favour of Latvian Reverta (formerly Parex) and Citadele banka

On 15 April 2014, the European Commission opened an in-depth investigation to assess whether the additional state support measures granted by Latvia to AS Parex banka (rebranded "Reverta") and AS Citadele banka in the context of their restructuring were in line with EU state aid rules. The Commission also had doubts that the implementation of the approved restructuring plan respects the commitments given by Latvia, aimed at restoring the banks' viability and at limiting distortions of competition.

ESO: Background information: State aid: Commission approves amendments to Latvian support for JSC Parex Banka http://www.europeansources.info/record/press-release-state-aid-commission-approves-amendments-to-latvian-support-for-jsc-parex-banka/

ESO: Background information: State aid: Commission approves Latvian state support for JSC Parex Banka http://www.europeansources.info/record/press-release-state-aid-commission-approves-latvian-state-support-for-jsc-parex-banka/

European Commission: Competition: State Aid: Cases http://ec.europa.eu/competition/state_aid/register/

European Commission: DG Competition http://ec.europa.eu/competition/index_en.html

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