Austria: Less Money in Foreign Currency Credits

Business › Currencies ♦ Published: March 7, 2013; 18:03 ♦ (Vindobona)

The volume of foreign currency loans has decreased further at the end of 2012.

Austria: Less Money in Foreign Currency Credits / Picture: © Vindobona.org

Moreover, the percentage in credits of foreign money has dropped below 25 %. According to the Financial Market Authority (FMA), the volume of outstanding foreign currency credits of private persons, which are mostly in Swiss francs, was at a total of € 31.7bn at the end of December in 2012. Adjusted for currency translation effects, this is a total of € 5.6bn which is almost 15 %…

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