Austrian FMA Sharpens Lending Rules for Foreign Currency Loans

Published: January 2, 2013; 18:56 · (Vindobona)

The Austrian Financial Market Authority changes the rules for banks which grant foreign currency loans.

Austrian FMA Sharpens Lending Rules for Foreign Currency Loans / Picture: © SW Umwelttechnik

Austria´s FMA underlines that foreign currency loans are no “suitable financial product for housing loans”. Since 2008, Austrian banks must not grant foreign currency loans to private individuals. Since then, the exposure was down by € 14bn.

However, according to FMA, the foreign currency volume in Austria is still “extraordinarily high”. As a result, there is a…

This article includes a total of 97 words.

or Log In