On 25 April 2012, the Commission announced that it has temporarily approved the Danish rescue aid granted to facilitate the merger of two Danish banks, Vestjysk Bank and Aarhus Lokalbank. The purpose of the merger is to address the continuing bank’s funding challenges and to improve its capital basis to meet the new capital requirements. The Commission has approved the rescue measures for reasons of financial stability for six months, or if Denmark submits a restructuring plan within six months, until the Commission adopts a final decision on this plan. The Commission has concluded that the measures are well-targeted, limited to the minimum necessary and provide sufficient safeguards to limit distortions of competition. Read more.