The Commission approved the package of amendments to the Swedish state guarantee scheme for financial institutions. The changes concern the prolongation of the scheme's validity until 31 October 2009 and the extension of its scope.
The Commission approved the package of amendments to the Swedish state guarantee scheme for financial institutions. The changes concern the prolongation of the scheme's validity until 31 October 2009 and the extension of its scope.
On 16 March 2009, Sweden notified the following modifications to its support measures for the banking industry:
Ø Prolongation of the period during which guarantees until 31 October 2009.
Ø Extension of the material scope of the scheme by including uncollateralised debt instruments with a term of up to five years.
Ø Amendment of the eligibility criteria for institutions covered by the scheme. Participating banks will only need to meet the basic legal capital requirements.
Press release
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