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Austrian Banking Package: Losses total € 1.9bn
Politics ♦
Published: December 13, 2012; 18:57 ♦ (Vindobona)
According to Austria´s Financial State Secretary Andreas Schieder, preliminary losses of the banking package come at € 1.9bn. Further losses are expected.
Austrian Banking Package: Losses total € 1.9bn / Picture: © Vindobona.org
Schieder explains that the figure does not contain the fourth quarter. Hence, the capital injection for Hypo Group has not been taken into account yet. Hypo Group´s current capital shortfall totals € 2.2bn. Until the end of the year, the Austrian Ministry of Finance will transfer another € 500m. Moreover, Hypo Group issued publicly guaranteed bonds at the beginning of December. At…
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