Loan agreements between the Central Bank of Iceland and Arion Bank from 2009 did not involve state aid

The EFTA Surveillance Authority (ESA) today published its conclusion of a formal investigation into loan agreements concluded between the Central Bank of Iceland (CBI) and Arion Bank hf. in 2009. ESA concludes that the loan agreements were on market terms and consequently did not constitute state aid within the meaning of the EEA rules. The conclusion is in line with the Bank´s expectations.

More on ESA’s statement here.