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The Commission approved the emergency support for JSC Parex Banka. The package consists of a state guarantee covering certain existing and new loans, of a state 1-year deposit to support the bank's immediate liquidity needs and of sub-ordinated loans to strengthen its capital base. The maturity for new loans is limited to three years and for sub-ordinated loans to five years.
The measures will be remunerated by significant fees and a series of behavioural commitments will be imposed on JSC Parex Banka. These include a limit on growth in balance sheet, marketing restrictions relating to the state support and limitation to acquire businesses or companies, while it benefits from the aid.