Dexia is a financial institution that is currently undergoing an "orderly wind-down" after being restructured following the 2008 financial crisis. It was previously a major Franco-Belgian banking and insurance conglomerate specializing in public finance. Following a liquidity crisis in 2008, and again in 2011-2012, Dexia received substantial capital injections from Belgium and France, and was placed under a resolution plan to manage its wind-down.Dexia is no longer commercially active, but its balance sheet remains significant, and it is managed by a structure owned by Belgium and France.