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Updated restructuring plan for Hungarian bank FHB approved

By  |  February 22, 2012

The European Commission has approved a Hungarian restructuring plan for FHB, a Hungarian bank. The measures are HUF 30 billion in recapitalization (approximately €100 million) and a HUF 120 billion loan (approximately €400 million).

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    The Commission found that the state support measures do not violate state aid rules for banks during crisis. The plan will keep distortion of competition at a minimum while restoring FHB viability.

    Source: EC Press Release

     

    Related content: Stability and Competition in EU Banking During the Financial Crisis: The Role of State Aid Control (Gert-Jan Koopman, European Commission)