# Commission Decision of 18 July 2011 on State aid C 15/09 (ex N 196/09), which Germany implemented and is planning to implement for Hypo Real Estate (notified under document C(2011) 5157) (Only the German text is authentic) (Text with EEA relevance) (2012/118/EU), Division 8.4: Restriction of the countries with new business activity

Extent: E+W+S+N.I.

Germany will ensure that the PBB sub-group only concludes new business in the following countries:
(i) Real estate finance:
(a) Core markets: Germany, United Kingdom, France, Spain.
(b) Further markets: Sweden, Poland, Czech Republic, Belgium, Netherlands, Luxembourg, Austria, Switzerland, Denmark, Finland, Norway, Slovakia, Hungary.
(ii) Public investment finance:
(a) Core markets: Germany, France, Spain, Italy.
(b) Further markets: Switzerland, Austria, Poland, Hungary, Czech Republic, Slovakia, Sweden, Norway, Denmark, Finland, Belgium, Netherlands, Luxembourg, United Kingdom.

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Source: https://www.legislation.gov.uk/eudn/2012/118/annex/division/8/division/8.4 (the official version)
Page: https://openlegislation.uk/eu-decision-2012-118/annex/division-8/division-8.4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.