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Commission approves second prolongation of Slovenian liquidity scheme for the financial sector

The European Commission has authorised, under EU state aid rules, the second prolongation until 30 June 2010 of a Slovenian liquidity scheme for the financial sector.

The Commission found the second prolongation of the measure, previously prolonged on 19 October 2009 and initially approved on 20 March 2009, to be in line with its guidance on support measures for banks during the financial crisis. In particular, the extended measure is limited in time and scope. The Commission therefore concluded that the second prolongation of the scheme represents an appropriate means of remedying a serious disturbance in the Slovenian economy and as such is compatible with Article 107(3)(b) of the Treaty.

On 20 March 2009, the Commission found that the scheme is non-discriminatory, limited in time and scope, provides for behavioural constraints to avoid abuses and is subject to a market-oriented remuneration from the beneficiaries. The Commission therefore concluded that the scheme was an adequate means to remedy a serious disturbance of the Slovenian economy and as such in line with Article 87.3.b of the EC Treaty.

The objective of the liquidity scheme is to provide short and medium term financing to the credit institutions which are unable to obtain funds on the financial markets under the previously approved Slovenian guarantee scheme and to other financial institutions.


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