Austrian Banks Claim to Continue „Vienna Initiative“

People ♦ Published: January 18, 2012; 17:33 ♦ (Vindobona)

In 2009, international banks agreed on maintaining their lending operations in Eastern Europe. Now, the cooperation should be extended.

Austrian Banks Claim to Continue „Vienna Initiative“ / Picture: © Flickr / St. Petersburg International Economic Forum

Three years ago, at the peak of the financial crisis, banks from Western Europe and the USA agreed to provide further liquidity to the CEE economies in order to avoid a credit crunch. This was the so called “Vienna Initiative”. Banks were also obliged to hold their sovereign bonds of CEE countries and to convert mature bonds into new ones.

Now bank representatives claim to…

or Log In

Fast News Search
Related News
Hungary: High Losses for Banks (January 4, 2012)
Critics for FMA and Central Bank (December 28, 2011)
OeNB: Developments in the Sovereign Debt Crisis Will Be Crucial for Financial Stability (December 16, 2011)
Romania Protests Against Austria´s Banks (November 28, 2011)
Austrian Central Bank Calls for Rise in Equity for Banks (November 21, 2011)
Read More
EBA European Banking Authority, OeNB Austrian National Bank, Ewald Nowotny, Herbert Stepic, Banking Industry, CESEE, Basel III, Equity Markets, Lending, Vienna Initiative
Featured
Fair for Art Vienna 2021: The Red Carpet for Art
See latest Vindobona Newsletter