Regulatory Alerts2009-01-01
Act No 276/2009 on measures to mitigate the effects of a global financial crisis on the banking sector
The National Council of the Slovak Republic enacted this Act to establish a framework for providing temporary stabilisation aid to banks impaired by financial crises. The legislation defines eligible aid forms, including capital injections, temporary public ownership, and special guarantees, subject to strict approval procedures involving the Ministry of Finance, the National Bank of Slovakia, and the European Commission. Beneficiaries must adhere to rigorous conditions regarding capital raising, bail-in measures, remuneration caps, and the prohibition of dividend payments to ensure financial stability and prevent misuse of public funds.
Share