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The European Commission plans to step up an investigation into rescue packages for two German banks hit by the subprime mortgage crisis, a source familiar with the situation told the media on Tuesday.
The Commission's competition authorities will formally agree to intensify the probe on Wednesday, the source said. Investigators aimed to assess whether state loans granted to lenders IKB and SachsenLB were made under the normal capital market conditions, the source added.
A spokesman for EU competition commissioner Neelie Kroes said the EU was analysing the information provided to them by the German government