2009/554/EC: Commission Decision of 21 October 2008 on a State aid scheme impleme... (32009D0554)
INHALT
2009/554/EC: Commission Decision of 21 October 2008 on a State aid scheme implemented by Italy to remunerate Poste Italiane for distributing postal savings certificates (C 49/06 (ex NN 65/06)) (notified under document number C(2008) 5585) (Text with EEA relevance )
- COMMISSION DECISION
- of 21 October 2008
- on a State aid scheme implemented by Italy to remunerate Poste Italiane for distributing postal savings certificates (C 49/06 (ex NN 65/06))
- (notified under document number C(2008) 5585)
- (Only the Italian text is authentic)
- (Text with EEA relevance)
- (2009/554/EC)
- I.
- PROCEDURE
- II.
- THE BUSINESS OF CDP AND PI/BANCOPOSTA — THE RELEVANT MARKETS
- II.1.
- CDP
- II.2.
- PI
- II.2.1.
- Postal services
- II.2.2.
- Financial services
- III.
- THE MEASURE UNDER ASSESSMENT
- III.1.
- Postal savings
- III.1.1.
- Postal savings books
- III.1.2.
- Savings certificates
- III.1.3.
- The funds raised
- III.2.
- Remuneration paid to PI for placing postal savings certificates
- IV.
- GROUNDS FOR INITIATING THE PROCEDURE
- V.
- COMMENTS FROM INTERESTED PARTIES
- VI.
- COMMENTS FROM ITALY
- VII.
- THE EXPERT STUDY
- VIII.
- ASSESSMENT OF THE MEASURE
- VIII.1.
- The context of the assessment
- VIII.2.
- Definition of the comparators
- VIII.2.1.
- Validation of the expert study by the Commission
- VIII.2.2.
- The Commission’s opinion on the arguments of the Italian authorities
- VIII.2.3.
- The Commission’s opinion on the arguments of ABI
- VIII.2.4.
- Conclusion
- VIII.3.
- Estimated market remuneration for postal savings certificates
- VIII.3.1.
- Methodology for evaluating market remuneration
- a)
- Postal savings certificates
- b)
- Comparables
- VIII.3.2.
- Analysis of market conformity
- a)
- Dematerialised certificates
- b)
- Paper 18-month certificates
- c)
- Paper ordinary certificates and paper fixed-term certificates
- VIII.3.3.
- Specific observations
- a)
- Variable annual remuneration methodology
- b)
- The remuneration for the production of paper certificates
- VIII.4.
- Reply to remaining comments by Italy and ABI
- VIII.4.1.
- Italy
- VIII.4.2.
- ABI
- VIII.5
- Separate accounting
- IX.
- CONCLUSIONS
- Article 1
- Article 2
Feedback