{
  "url": "https://openlegislation.uk/eu-decision-2009-971/annex/division-1/division-4.6",
  "json_url": "https://openlegislation.uk/eu-decision-2009-971/annex/division-1/division-4.6.json",
  "legislation": "eudn/2009/971",
  "legislation_title": "Commission Decision of 12 May 2009 on State aid which Germany proposes to grant towards the restructuring of WestLB AG (C 43/08 (ex N 390/08)) (notified under document C(2009)3900) (Only the German text is authentic) (Text with EEA relevance) (2009/971/EC)",
  "legislation_url": "https://openlegislation.uk/eu-decision-2009-971",
  "path": "annex/division/1/division/4.6",
  "kind": "division",
  "number": "4.6",
  "heading": null,
  "text": "In the capital markets, wholesale banking and structured financing business area, the following restrictions are to apply to wholesale banking and structured financing business pending the sale:\n(a) New wholesale banking and structured financing business is not to exceed EUR [20-40] billion in the 2009 balance sheet, by 31 December 2009, EUR [15-35] billion in 2010, by 31 December 2010, and EUR [10-30] billion in 2011, by 31 December 2011.\n(b) The risk-weighted assets attributable to wholesale banking and structured financing business may not exceed EUR [30-60] billion on 31 December 2009, EUR [20-50] billion on 31 December 2010, and EUR [20-50] billion on 31 December 2011.\n(c) The following locations are to be closed as quickly as possible and no later than […] 2010:\nMünster,\nBielefeld,\nCologne,\nDortmund,\nMainz.\n(d) The subsidiaries, branches and representation offices in the following locations are to be closed as quickly as possible and no later than […] 2010:\nToronto,\nHouston,\nMexico City,\nMadrid,\nMilan,\nParis,\nKiev,\nDubai,\nJohannesburg,\nPrague,\nShanghai,\nSingapore,\nTokyo,\nMumbai,\nSeoul,\nBeijing.\n(e) If WestLB is sold as a whole or in separate units by 31 December 2010, the purchaser may maintain three further locations.\n(f) Existing business that has not been fully run down at the time of the closure of the locations referred to in points 4.6(c) and (d) is to be transferred or wound up in some other appropriate fashion.\n(g) The following locations may be maintained:\nLondon,\nNew York,\nHong Kong,\nMoscow,\nSydney,\nIstanbul,\nSão Paulo,\nDüsseldorf,\nBerlin,\nFrankfurt am Main,\nHamburg,\nMunich,\nStuttgart.\n(h) Pending the sale of WestLB, no subsidiary, branch or representation office may be established in any new location.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eudn/2009/971/annex/division/1/division/4.6",
    "retrieved_at": "2026-11-01T15:16:17.507762+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}