EC to investigate creation of "bad bank" for WestLB

12/22/2009 | Wall Street Journal, The

The European Commission said it will conduct an in-depth investigation into the establishment of a "bad bank" as well as a €3 billion capital injection for Germany's WestLB. The commission temporarily approved the measures but voiced concerns that they might be in violation of laws on state subsidies. The bad bank will take on troubled assets as well as nonstrategic assets from WestLB.

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