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The Commission authorised a further € 2.45 billion capital injection into the institution to be created by the merger between the Caisse d’Épargne and Banque Populaire groups, provided by the French Government.
The boards of the Caisse d'Epargne and Banque Populaire groups have approved a merger which will see them transfer most of the technical and human resources of their respective central bodies to a common central body.
On 22 April the French Government formally notified the Commission of its plan to increase the amount of EUR 2.55 billion already approved by the Commission by EUR 2.45 billion, to be paid to the Caisse d'Epargne and Banque Populaire groups under the second instalment of the recapitalisation scheme.
The two groups had already received EUR 2.05 billion under the first instalment of the scheme. Once the plan has been implemented, they will therefore have received a capital injection of EUR 7.05 billion in total.