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Belgium, European Union, Netherlands, United Kingdom
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November 18 2009
Today, the European Commission (EC) announced decisions regarding state aid for KBC Group NV (KBC), ING Groep NV (ING) and Lloyds Banking Group (Lloyds), which will "secure their long term viability," "require each of these banks to contribute substantially to the financing of their restructuring," and "ensure that none of these banks will enjoy an unfair competitive advantage as a result of the very large-scale public support they have received."
Today, Royal Bank of Scotland Group Plc (RBS) announced that it is close to agreement with HM Treasury with respect to its proposed participation in the U.K. Government's Asset Protection Scheme (GAPS), which would provide protection against certain credit losses incurred on one or more portfolios of defined assets
Today, the European Commission announced it has extended the scope of its April 2 in-depth investigation into the UK's aid package and restructuring plan for Northern Rock Plc
