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Corporate Restructuring Summit 2012 Bank Restructuring A perspective from the European Commission

Corporate Restructuring Summit 2012 Bank Restructuring A perspective from the European Commission. Alberto Bacchiega Head of Unit Task Force Financial Crisis DG Competition European Commission

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Corporate Restructuring Summit 2012 Bank Restructuring A perspective from the European Commission

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  1. Corporate Restructuring Summit 2012Bank Restructuring A perspective from the European Commission Alberto Bacchiega Head of Unit Task Force Financial Crisis DG Competition European Commission The views expressed in this document are those of the author and may not in any circumstances be regarded as stating an official position of the European Commission

  2. The European Commission in the Financial Crisis Respect of Maastricht criteria, Excessive DeficitProcedures, Fiscal consolidation programs (DG ECFIN) CRD IV, resolutionframework, banking union, SSM (DG MARKT, DG ECFIN) State aid control Restructuring of problematic institutions (DG COMP)

  3. Member States' response to thefinancial crisis State-guaranteed funding Recapitalisation by the State Impaired assets measures • Guarantees of impaired assets • Purchase of impaired assets • Hybrid schemes State aid potentially triggering need for in-depth restructuring

  4. Competition Policy in the Crisis

  5. EU State aid control in the financial crisis: Instruments 5 5

  6. 3 pillars in bank restructuring

  7. Viability assessment

  8. Measures to restore viability: examples

  9. Viability is not a given

  10. Burden sharing: examples

  11. Reasons to limit distortions of competition

  12. Competition measures: examples

  13. Monitoring

  14. The record so far

  15. State aid control and sovereign crisis

  16. Same principles – new challenges

  17. Meeting the challenges

  18. Lessons learned

  19. Thank you for your attention!

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