{
  "url": "https://openlegislation.uk/eu-decision-2014-341/annex/division-n2/division-V/division-3",
  "json_url": "https://openlegislation.uk/eu-decision-2014-341/annex/division-n2/division-V/division-3.json",
  "legislation": "eudn/2014/341",
  "legislation_title": "Commission Decision of 3 September 2013 State aid SA.32554 (09/C) Restructuring aid for Hypo Group Alpe Adria implemented by Austria (notified under document C(2013) 5648) (Only the German text is authentic) (Text with EEA relevance) (2014/341/EU)",
  "legislation_url": "https://openlegislation.uk/eu-decision-2014-341",
  "path": "annex/division/n2/division/V/division/3",
  "kind": "division",
  "number": "3",
  "heading": "Wind-down of HBI",
  "text": "In order to prevent market distortion during the resolution of Retail-Bank HBI and deposit outflows, and to cushion against HBI’s resulting additional liquidity requirements, the following provisions will apply to HBI:\n3.1. HBI will not transact any new business, save as otherwise provided below.\n3.2. HBI’s assets will be gradually reduced through sales of portfolios or individual assets, further restructuring transactions (i.e. transfers of portfolios and/or assets to the wind-down entity) and also by the amortisation of existing assets.\n3.3. The wind-down of the liabilities on HBI’s balance sheet will follow the wind-down of the assets on its balance sheet and will be determined by the latter. HBI’s liabilities will therefore be reduced proportionally to the reduction on the asset side.\n3.4. At present, the following key steps are planned for the wind-down of HBI:\nreduction in the current balance-sheet total of approximately EUR 3 billion by around […] % by the end of 2013 through further portfolio transfers to the local wind-down entity (HLI);\nreduction in the balance-sheet total of the remaining amounts receivable by contractual maturity of around EUR […] to some EUR […] by the end of 2018;\n[…]\n[…]\n[…]\n[…]\n[…]\n[…]\n[…]\n[…]\n[…]\n[…]\n[…]\n[…]\n[…]\n[…]\n[…]\n[…]\n[…]\n[…]\n[…]\n[…]\n[…]\n[…]\n3.5. In order to secure […] own refinancing by HBI in the wind-down stage and avoid the need for additional liquidity, HBI may […], provided this is necessary in order to prevent or offset an undershoot of the existing […].\n3.6. HBI will offer/take deposits only at nominal interest rates below the average of the best reference rates offered in the same period by HBI’s five leading unassisted competitors […] for comparable products.\n3.7. […].\n3.8. Save as otherwise provided above, the provisions concerning the wind-down part in V.1 and V.2 shall apply mutatis mutandis to the wind-down of HBI.",
  "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/2014/341/annex/division/n2/division/V/division/3",
    "retrieved_at": "2026-11-01T15:14:45.373906+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."
}