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2012/660/EU: Commission Decision of 27 March 2012 on the measures SA. 26909 (2011/C) implemented by Portugal for the restructuring of Banco Português de Negócios (BPN) (notified under document C(2012) 2043) Text with EEA relevance

2012/660/EU: Commission Decision of 27 March 2012 on the measures SA. 26909 (2011/C) implemented by Portugal for the restructuring of Banco Português de Negócios (BPN) (notified under document C(2012) 2043) Text with EEA relevance

Decision · 3 articles

Data as of 2026-07-04 · Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗

Article 1

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1.   The following measures granted by Portugal constitute state aid: i. Loans granted by CGD before nationalisation; ii. Loans and liquidity lines granted by CGD to BPN after nationalisation and before the sale, with or without an explicit state guarantee; iii. Transfer of assets from BPN to the SPVs at book value before and after the sale; iv. Capital injection by the State of 15 February 2012; v. Liquidity lines to be granted by CGD requested by BIC for the combined entity; vi. Right for BIC to transfer deposits with a pricing above […] bps to the State, or to have the State remunerate the difference; and vii. Transfer to the State of costs linked to litigation. 2.   The aid measures set out in paragraph 1 are compatible with the internal market in light of the commitments set out in Section 5.2.

Article 2

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Within two months of notification of this Decision, Portugal shall inform the Commission of the measures it has taken to comply with this Decision. Furthermore, Portugal shall submit detailed reports on the measures taken to comply with it, starting six months from the date of this Decision.

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Source: EUR-Lex (Publications Office of the EU), © European Union, reuse permitted under Commission Decision 2011/833/EU.

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