30.7.1999 Official Journal of the European Communities L 198/1 (Acts whose publication is not obligatory) COMMISSION COMMISSION DECISION of 14 October 1998 conditionally approving aid granted by France to Société Marseillaise de Crédit (notified under document number C(1998) 3210) (Only the French text is authentic) (Text with EEA relevance) (1999/508/EC) THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Community, and in particular the first subparagraph of Article 93(2) thereof, Having regard to the Agreement on the European Economic Area, and in particular point (a) of Article 62(1) thereof, Having given the parties concerned the opportunity to submit their comments, in accordance with the abovementioned Articles, Whereas: 1. INTRODUCTION In July 1993 the French authorities informed the Commission that between August 1993 and the beginning of 1994 Société Marseillaise de Crédit (SMC), a bank in which the French State was the sole shareholder, was to receive a capital injection from the State amounting to some FRF 860 million, in two instalments. After examining the case on the basis of the information provided by the French authorities, including the restructuring plan for the bank, the Commission concluded that no State aid was involved (letter of 13 October 1993, D[9462). By letter of 3 October 1996 the Commission notified the French authorities that on 18 September it had decided to initiate proceedings under Article 93(2) of the Treaty in respect of other State measures in support of SMC(!). The Commission took the view that the following measures might contain State aid components caught by Article 92(1) of the Treaty: (i) capital increases totalling FRF 1 241 million in 1994 and 1995 and (i) a projected capital increase of FRF 858 million in 1996. The Commission also said that it might re-examine the capital increases which had been notified in 1993, totalling FRF 860 million, if the information assembled in the course of the proceedings it was now initiating showed that the assessment which it had made in 1993 was based on incorrect information, or if there had been material changes in the circumstances which had led it to form a favourable opinion of the aid. By letter of 23 July 1998 the Commission informed the French authorities that on 14 July it had decided to extend the Article 93(2) proceedings to include a fresh injection of capital into SMC amounting to FRF 2 909 million, and a guarantee to cover possible claims of up to about FRF 400 million (?). () O] C 49, 19.2.1997, p. 10. () O] C 249, 8.8.1998, p. 11.