Recital 22

(22) Where de minimis aid is provided through financial intermediaries, Member States should ensure that the latter do not receive any State aid. This can be done, for example, (i) by requiring financial intermediaries that benefit from a State guarantee to pay a market-conform premium, or (ii) by fully passing on any advantage to the final beneficiaries, or (iii) by complying with the de minimis ceiling and other conditions of this Regulation at the level of the intermediaries. In order to simplify the treatment of financial intermediaries implementing de minimis aid schemes, where Member States rely on option (iii), this Regulation should provide for a clear rule that is easy to apply and takes into account the overall amount of loans involving de minimis aid issued by the financial intermediary over 3 years. Based on the Commission’s experience, financial intermediaries granting guaranteed de minimis loans and operating a mechanism to pass on the advantage contained in the guarantee to the final beneficiaries may be considered as receiving a gross grant equivalent not exceeding the de minimis ceiling if the total portfolio amount of guaranteed de minimis loans is less than EUR 10 million, or if the total portfolio amount of guaranteed de minimis loans is less than EUR 40 million and composed of individual de minimis loan amounts of less than EUR 100 000, provided that the de minimis scheme is available on equal terms to financial intermediaries operating in the Member State concerned.

← Recital 21 · All articles · Recital 23 →

Source: EUR-Lex (Cellar) · retrieved 2026-11-06 · Text as adopted (Official Journal); later amendments are not incorporated in this text.