On 23.04.2014, employees of the Competition Council with representatives of the National Bank has met in a working session on the correct application of the Law on State aid.
During the meeting they discussed the role of the NBM in the supervision of financial institutions, to ensure their stability and about the cases in which NBM may be the State aid provider.

     Later discussions focused largely on the exposure of state aid measures from EU practice.
Thus main topics that were discussed were related to:

      * NBM role in maintaining financial stability;

      * Methods of lending emergency credits to financial institutions;

      * NBM role in the supervision and special management of financial institutions in cases of their mismanagement;        

      * Forms of state aid if the financial institution stay in difficulty;

      * Clarification the situation related to multitude of ways to recapitalize banks;

      * Cases of delay or cancellation of loans granted by BNM to institutions
financial.

We remind you that the Law on state aid came into force on 16 August 2013 It establishes the legal framework for licensing arrangements, monitoring and reporting of State aid beneficiaries in all sectors of the national economy, except agriculture, in order to maintain a normal competitive environment.

 

Competition Council

25.04.2014