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Austrian federal government is now sole owner of the Federal Reserve

Published: May 27, 2010; 00:00 · (Vindobona)

The price fluctuations in international currency markets helped the Austrian National Bank (OeNB) in 2009 to a strong profit increase.

Austrian federal government is now sole owner of the Federal Reserve / Picture: © Wikipedia / My Friend (Sitzungssaal des Ministerrates)

The OeNB in 2009 made a profit of 318 million euros, while in 2008 it was only 47 million.

The fluctuations have helped the OeNB two-ways. On the one hand, the bank earned far higher returns from the sale of dollars, yen, Swiss franc etc. compared to 2008.

Federal government benefits

The largest profiteer of this development is the federal government. The Treasury…

This article includes a total of 363 words.

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