Commission Decision (EU) 2015/657 of 5 February 2013 on State aid granted by Germany and Austria to Bayerische Landesbank (Case SA.28487 (C 16/09, ex N 254/09)) (notified under document C(2013) 507) (Text with EEA relevance)

The Commission Decision of 25 July 2012 on State aid granted by Germany and Austria to Bayerische Landesbank (Case SA.28487 (C 16/09, ex N 254/09)) is repealed.

1 The following measures constitute State aid within the meaning of Article 107(1) TFEU: (a) the recapitalisation of Bayerische Landesbank by the Land of Bavaria, in the amount of EUR 10 billion; (b) the second-loss guarantee in the form of a risk shield granted to Bayerische Landesbank by the Land of Bavaria, in the amount of EUR 4,8 billion; (c) the liability guarantees granted to Bayerische Landesbank by Germany, in the amount of EUR 15 billion; (d) the funding guarantee granted to Bayerische Landesbank by Austria, in the amount of EUR 2,638 billion; and (e) the transfer of EUR 1 billion in capital in Bayerische Landesbodenkreditanstalt from the Land of Bavaria to Bayerische Landesbank.

2 The State aid referred to in paragraph 1 is compatible with the internal market, in the light of the commitments set out in Annex I and Annex III and subject to the conditions set out in Annex II.

Germany shall ensure that the restructuring plan submitted on 6 June 2012 and supplemented on 12 June 2012 is implemented in full, including the commitments set out in Annexes I and III and the conditions set out in Annex II, in accordance with the schedule set out in those Annexes.

Germany shall inform the Commission within 2 months of notification of this Decision of the measures taken to comply with it.

This Decision is addressed to the Federal Republic of Germany and to the Republic of Austria.