Austrian Clearingbank Concludes Activities

Politics ♦ Published: March 5, 2011; 11:23 ♦ (Vindobona)

The activities of the Oesterreichische Clearingbank, founded in 2008 to handle liquidity shortages at commercial banks end presently.

Austrian Clearingbank Concludes Activities / Picture: ©

The Austrian Clearingbank was created on occasion of the bank aid package which amounted to € 100bn. The bulk of the package was in the form of guarantees. The bank has completed its work by now and has already submitted the termination of its concession to the Financial Market Authority (FMA). The liquidation is to take place in the coming months.

The Clearingbank had the task…