# Commission Decision (EU) 2015/454 of 9 July 2014 on the State aid SA.34823 (2012/C), SA.36004 (2013/NN), SA.37965 (2013/N), SA.37966 (2013/N), SA.37967 (2013/N) implemented by Greece for Alpha Bank Group relating to: Recapitalisation and restructuring of Alpha Bank S.A., Resolution of Cooperative Bank of Western Macedonia through a transfer order to Alpha Bank S.A., Resolution of Evia Cooperative Bank through a transfer order to Alpha Bank S.A., Resolution of the Cooperative Bank of Dodecanese through a transfer order to Alpha Bank S.A. (notified under document C(2014) 4662) (Only the English text is authentic) (Text with EEA relevance), Division (16)

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

The Credit Policy shall give clear instructions on the restructuring of loans. It clearly defines which loans are eligible, under which circumstances, and indicates the terms and conditions that can be proposed to eligible customers. For all the Greek banking activities, the Bank shall ensure that all restructurings aim at enhancing the future recoveries by the Bank, thus safeguarding the interest of the Bank. In no case the restructuring policy will jeopardise the future profitability of the Bank. For that purpose, the Bank’s Risk Management Department shall be responsible for developing and deploying adequate restructuring effectiveness reporting mechanisms, for performing in-depth analyses of internal and/or external best practices, reporting its findings at least on a quarterly basis to the Credit Committee and the Board Risk Committee, suggesting actionable improvements to the processes and policies involved and oversee and reporting on their implementation to the Credit Committee and the Board Risk Committee.

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Source: https://www.legislation.gov.uk/eudn/2015/454/annex/chapter/III/section/B/division/2/division/16 (the official version)
Page: https://openlegislation.uk/eu-decision-2015-454/annex/chapter-III/section-B/division-2/division-16
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.