Austria: OeNB Positive About Hypo’s Future

Politics ♦ Published: May 14, 2013; 15:21 ♦ (Vindobona)

Issuing Bank Director Ittner is confident that it will not come to a liquidation of the ailing banking institute.

Austria: OeNB Positive About Hypo’s Future / Picture: © Oesterreichische Nationalbank AG (OeNB) /meinradphotography

The Austrian National Bank (OeNB) does not fear that it will come to an immediate liquidation of Hypo Group. The government is, according to Issuing Bank Director Andreas Ittner, well on track to avoid such scenarios.

An immediate winding down of Hypo might burden the country up to € 16bn including follow-up costs for the Balkan affiliates. The OeNB itself has estimated these…