As part of a larger scheme to rescue banks in difficulty, the German Government has developed an asset relief scheme which it notified to the European Commission (Commission) for approval under the State aid rules. On 31 July 2009, the Commission authorised the scheme having concluded that it provides sufficient transparency and disclosure of impairments, valuation of the assets based on their real economic value, a fair sharing of the burden of costs related to the operation and adequate remuneration. In these respects, the scheme is consistent with guidelines developed under the Commission's Communication on the treatment of impaired assets.
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German asset relief scheme approved
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