Commission approves Portuguese support scheme for financial institutions
30 October 2008
The Commission approved the Portuguese rescue package aimed at stabilising financial markets. The total budget of the scheme is €20 billion.
The Commission approved the Portuguese rescue package aimed at stabilising financial markets.
The scheme provides state guarantees for financing agreements and the emission of non subordinated short and medium term debt of solvent credit institutions incorporated in Portugal. The total budget of the scheme is €20 billion. Guarantees will be available for instruments with a maximum maturity of three years, or exceptionally five years only when duly justified by the Portuguese Central Bank.
Press release
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