State aid and deposit guarantee schemes. The CJEU decision on Tercas and the role of DGSs in banking crises

1. Introduction 2. The case 2.1 The acquisition of Tercas by Banca Popolare di Bari (‘BPB’) 2.2 The Commission’s Decision on Tercas 2.3 The impact of the Decision on the Italian banking system 3. The Judgment of the Court in Case T-98/16. Italian Republic and Others v European Commission 3.1 Notion of State aid according to CJEU case law 3.2 Imputability to the Italian Republic of the measures - (i) The scope of the public mandate entrusted to the FITD - (ii) The autonomy of the FITD when deciding on the intervention 3.3 The financing of the intervention through state resources 4. Conclusion 4.1 State Aid and the Judgment in Tercas 4.2 State Aid and the role of DGSs in banking crises after Tercas