Country

Type of commitment (political/legal)

Material scope

Eligibility

Time

Austria
deposit guarantee scheme

Government approved a detailed deposit guarantee plan (8/10/08);
Measure to be passed by Parliament on 28/10/08.

Unlimited deposit guarantee for private customers.

Entry into force (retroactively) on 1/10/08.

Austria
other

Government decided to guarantee deposits (8/10/08)

Measures for protecting financial stability:
- create liquidity clearing point; possible state guarantee for clearing point to borrow on markets;
- create legal basis for state guarantees for support measures for individual banks;
- create legal basis for state to intervene in case needed with capital.

Belgium
deposit guarantee scheme

Increase of bank deposit guarantee of up to EUR100,000

Belgium
other

Announcement by Belgian PM (9/10/08)

State offers to guarantee all new bank loans of "systemic" Belgian banks, i.e. inter-bank deposits, bonds and institutional investments.
(Guarantees on same terms as Dexia guarantee: obligations expiring before 30.10.2011 and issued until 31.10.09 renewable for a further year. Banks will have to pay a fee for the guarantee "reflecting the advantage the entities get").

Until 31/10/2009.

Belgium/France/Luxembourg
Dexia, Individual rescue aid

Notified between 30/09/2008 and 13/10/2008

Recapitalisation and guarantee

Dexia

Belgium/Netherlands/Luxembourg
Fortis, Individual rescue aid

Notified between 30/09/2008 and 10/10/2008

Recapitalisation and asset sale

Fortis

Bulgaria

Government decision on 9/10/08. Amendment to the existing law will be proposed.

Increase of bank deposit guarantee to EUR50,000.

Cyprus
deposit guarantee scheme + other

Government announcement;
Legislation will be prepared.

Increase of bank deposit guarantee of up to EUR100,000.

Government has EUR2bn in reserve to bail out the banking sector if need be.

Czech Republic
deposit guarantee scheme

Government decision on 9/10/08.
Amendment to the law to be proposed.

Increase of deposit guarantee to EUR 50,000.
Customers of bankrupt banks will be compensated for 100% of their savings (instead of so far 90%).

Denmark
Guarantee scheme
for banks in Denmark

Scheme notified to the Commission on 08/10/2008.
Bill passed on 10 October (Financial Stability Act).

Commission decision on 10/10/2008 (Scheme is aid compatible under 87(3)(b)) IP/08/1483

Scheme comprises two components:
- a State Guarantee that covers depositors and 'creditors' of all scheme member banks (for the amounts that are not covered by the Danish Deposit Guarantee Scheme)
- A winding up company / vehicle that will be set up, owned and capitalised by the State to be available for any scheme member banks that fail.

All solvent banks in DK are eligible to participate (including foreign branches of Danish banks and Danish branches of foreign banks).

10/10/08 to 30/09/2010 (prolongation conditional to approval by the Commission).

Denmark
deposit guarantee scheme

Law adopted on 10/10/08

The law gives unlimited state guarantee for all domestic and foreign claims by depositors (see above).

05/10/08 to 30/09/10

Denmark
Roskilde Bank, Individual rescue aid

Measure notified to Commission on 08/10/2008, approved on 10/10/2008 (IP/08/1222)

Liquidity facility and guarantee

Danish Roskilde Bank

11/07/2008 to 11/01/2009

Finland
deposit guarantee scheme

Increase of deposit guarantee from EUR25,000 to EUR50,000 (08/10/08)

Until end 2009.

France
other

Announcement by PM (13/10/08)
Amendment to finance law to be proposed.

Plan to stabilise the financial sector including:
- Liquidity and lending guarantees of up to EUR320bn
- Bank recapitalisation of up to EUR40bn

In principle solvent banks.

France
Individual rescue aid to Dexia à see Belgium

Germany
deposit guarantee scheme

Political declaration (no legislation planned)

Unlimited guarantee on all retail deposits in German banks

Not mentioned.

Germany
Rescue package

Decision to be taken by law on 17/10/08.

Rescue package of up to EUR500bn:
- the Government will provide up to EUR400bn in liquidity or lending guarantees;
- the Government will provide up to EUR80bn in state funds for bank recapitalisation.

In principle solvent companies.

31 December 2009

Germany
HRE group, Individual rescue aid

Measure communicated to Commission on 30/09/2008, approved on 02/10/2008 (IP/08/1453

Loan guarantees

Hypo Real Estate Holding AG

October 2008 to April 2009

Germany
BayernLB, Individual rescue aid

Notified on 29/08/2008

Risk shield

BayernLB

Germany
WestLB, Individual restructuring aid

Commission in-depth investigation opened on 01/10/2008

Restructuring

WestLB

Germany
SachsenLB, Individual restructuring aid

Commission approved in June 2008 (IP/08/849

Restructuring

Sachsen LB

Germany
IKB, Individual restructuring aid

Commission in –depth investigation opened on 27/02/2008

Restructuring

IKB

Italy
deposit guarantee scheme
+other

Government decree approved on 8/10/08.







Government Decree approved on 13/10/08.

Two instruments to protect systemic stability:
- Government will be able to intervene through recapitalisation or purchase of assets if a private bank is in trouble. It was decided to create a special EUR20bn fund as an emergency credit line.
- second grade guarantee fund for all bank deposits up to EUR103,000.


The Decree provides for State guarantees for banks' debt and the possibility to exchange government bonds for bank obligations.

Entry into force upon publication in the Gazzetta Ufficiale.

Ireland
Guarantee scheme

Government Decision (30/09/08) & Bill (Credit Institutions Financial Support Act N° 18 of 2008), approved by Commission on 13/10/2008 (IP/08/1497)

Guarantee scheme for deposits (retail, commercial, institutional and interbank), bonds and debts.

Initially six main Irish banks –
Press release of 09/10/08 announcing eligibility of foreign banks' subsidiaries.

2 years (+ review clause)

Lithuania
deposit guarantee scheme

Government is currently seeking Parliamentary approval for the proposal (emergency bill).

Increase of deposit guarantee from EUR22,000 to EUR100,000.

1 year (until October 2009)

Luxembourg
Individual rescue aid to Dexia à see Belgium

Luxembourg
Individual rescue aid to Fortis à see Belgium

Netherlands
Individual rescue aid to Fortis à see Belgium

Portugal
deposit guarantee scheme

Political declaration by the Minister of Finance (6.10.2008)

Bank deposit guarantee increased from EUR25,000 to EUR100,000.

Portuguese nationals who have deposits in Portuguese banks.

Portugal
other

Announcement by the government on 12/10/08.

Guarantee scheme for the financing of credit institutions up to a maximum value of EUR20bn, with a view to improving conditions of access to liquidity in the financial markets.

Applies to credit institutions with registered office in Portugal.

Romania
deposit guarantee scheme

Increase of bank deposit guarantee of up to 50,000 Euro (now the guarantee is up to 20,000).

Slovak Republic
deposit guarantee scheme

Government decision (8/10/08). To be approved by Parliament in the coming days.

Unlimited guarantee of deposits of physical persons and some categories of legal persons.

Slovenia
deposit guarantee scheme

Announcement in press conference (8/10/08);
banking act to be changed.

Introduction of an unlimited guarantee on deposits (so far EUR 22,000).

Applies to banks operating on Slovenian territory.

Temporary measure (until the end of the financial crisis)

Spain
deposit guarantee scheme

Announcement by the Prime Minister (7/10/08)

Increase of the cap of the deposit guarantee from EUR20,000 to EUR100,000.

Spain
other

Law decree adopted on 10/10/08.

Notified to the Commission on 10/10/08.

Creation of a fund of up to EUR50bn to buy Spanish top rated assets from banks and other financial institutions.

Sweden
deposit guarantee scheme

Proposal to Parliament
(will apply as from 6 October 2008 if the bill passes)

This concerns changes to the Swedish implementation of the deposit guarantee directive 94/19/EC

Measure A) Bank deposit guarantee (all types of accounts of private and legal persons) to be increased from SEK250 000 to SEK500 000
(EUR25.000 to EUR50.000 EUR).

Measure B) For Swedish branches of foreign banks (EEA or third country) for which deposits are covered by a guarantee scheme in the banks home country, the government may, if the home country guarantee fails to perform AND this failure is deemed to disturb the Swedish financial system, step in and compensate the depositors on the terms of the home country scheme.

Measure A: Applies to banks and branches in accordance with Directive 94/19/EC.

Measure B) Concerns branches of non-Swedish bank (EEA or third country)

Not mentioned.

UK
deposit guarantee scheme

Political statement at this stage.

UK is to increase its cap on the amount it will guarantee to savers from 35,000 to 50,000 pounds, starting on 7/10/08.

UK
other

Announcement by the UK government. Approved by Commission on 13/10/2008, IP/08/1496

Rescue package for the banking system worth £500bn.
Extra capital will be made available to eight of UK's largest banks and building societies in exchange for preference shares or equity.

Other section of the scheme: short-term liquidity of £200bn will be made available from the Bank of England and £250bn in loan guarantees will be made available at commercial rates to encourage banks to lend to each other.

Eight of UK's largest banks are covered, but other banks and building societies can also apply.

UK
Bradford & Bingley Individual rescue aid

Notified to Commission on 30/09/2008, approved on 01/10/2008 (IP/08/1437)

Liquidity facilities, guarantees

Bradford & Bingley

29/09/2008 – 29/03/2009

UK
Northern Rock, Individual restructuring aid

Restructuring plan notified to Commission on 17/03/2008, in-depth investigation openend on 02/04/2008 (IP/08/489)

Restructuring

Northern Rock