Deposit Guarantee Funds and State Aid: Bank Tercas

By Andrew Ward, Ana Belén Blasco and Silvia Fiz

The General Court of the European Union (“GC”) has annulled European Commission (“EC”) decision in the Tercas case. The GC argued that the EC wrongly classified as State aid under article 107 of the Treaty on the Functioning of the European Union (“TFEU”) the measures adopted for the benefit of Tercas by the Fondo Interbancario di Tutela dei Depositi (“FITD”), a deposit guarantee fund.

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