September 26, 2012 / 10:13 AM / 5 years ago

EU approves state guarantees for Dexia until end Jan

BRUSSELS (Reuters) - The European Commission said on Wednesday it had approved a four-month extension of temporary state guarantees to Franco-Belgian Dexia (DEXI.BR).

France, Belgium and Luxembourg have provided up to 55 billion euros ($71.29 billion) of guarantees to cover the funding of Dexia, which was bailed out for a second time in three years in October 2011.

The EU’s approval was due to expire at the end of September. It will now run until January 31, 2013. ($1 = 0.7715 euros)

Reporting by Ethan Bilby, writing by Philip Blenkinsop

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