INHALT

2011/823/EU: Commission Decision of 5 April 2011 on the measures C 11/09 (ex NN 53b/08, NN 2/10 and N 19/10) implemented by the Dutch State for ABN AMRO Group NV (created following the merger between Fortis Bank Nederland and ABN AMRO N) (notified under document C(2011) 2114) Text with EEA relevance

COMMISSION DECISION
of 5 April 2011
on the measures C 11/09 (ex NN 53b/08, NN 2/10 and N 19/10) implemented by the Dutch State for ABN AMRO Group NV (created following the merger between Fortis Bank Nederland and ABN AMRO N)
(notified under document C(2011) 2114)
(Only the English text is authentic)
(Text with EEA relevance)
(2011/823/EU)
1.
PROCEDURE
2.
DETAILED DESCRIPTION OF THE BENEFICIARIES AND THE MEASURES
2.1.
The creation of ABN AMRO Group
Separation of ABN AMRO N
Creation of ABN AMRO Group
2.2.
Beneficiaries
2.2.1.
Economic activities of ABN AMRO N and ABN AMRO Z
2.2.2.
Fortis Bank Nederland (FBN)
2.2.3.
ABN AMRO Group
2.3.
Description of the Restructuring Plan of December 2009 and the updated Restructuring Plan of November 2010
2.4.
Description of the measures
2.4.1.
Measures covered by the Decision of 8 April 2009
2.4.2.
Measures covered by the Decision of 5 February 2010
3.
GROUNDS TO OPEN
3.1.
Grounds to open in the Decision of 8 April 2009
3.2.
Grounds to extend the proceedings in the Decision of 5 February 2010
4.
COMMENTS FROM INTERESTED PARTIES
4.1.
First set of comments from Van Lanschot (letter of 6 May 2009)
4.2.
Follow-up comments of Van Lanschot (letters of 21 and 28 August 2009)
4.3.
Comments from ABN AMRO Bank (letter of 6 July 2009)
5.
COMMENTS FROM THE DUTCH STATE
5.1.
Comments from the Dutch State on the Decision of 8 April 2009
5.2.
Comments from the Dutch State on the Decision of 5 February 2010
5.3.
Comments from the Dutch State on the comments of interested parties
5.3.1.
Comments from the Dutch State on the complainant’s letter of 6 May 2009
5.3.2.
Comments from the Dutch State on the complainant’s arguments of 21 and 28 August 2009
5.3.3.
Comments from the Dutch State on the comments of ABN AMRO Bank
6.
ASSESSMENT
6.1.
Existence of aid
6.1.1.
Measures Y1 and Y2 of 3 October 2008
6.1.2.
Applicability of the MEIP for the measures implemented after the initial aid of 3 October 2008
6.1.3.
Existence of an advantage and conclusion on the existence of aid for the measures implemented after integrated transactions of 3 October 2008
6.1.4.
Quantification of the State aid
6.2.
Compatibility of the different aid measures
6.2.1.
Compatibility of Measures Y1 and Y2 under the Banking Communication
6.2.2.
Compatibility of Measures Z, B3 (namely EUR 500 million), B4 and B5 and C under the Recapitalisation Communication
6.2.3.
Compatibility of the capital relief instrument with the principles set forward in the Impaired Asset Communication
6.3.
Assessment of the aid and of the December 2009 Restructuring Plan and the updated November 2010 Restructuring Plan under the Restructuring Communication
6.3.1.
Viability
6.3.2.
Burden-sharing/Minimum necessary
6.3.3.
Measures to limit distortions of competition
6.3.4.
Conclusion
7.
CONCLUSION
Article 1
Article 2
Article 3
Article 4
Article 5
Article 6
Article 7
Article 8
Article 9
Article 10
Article 11