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Bank Insolvency Act to be Finished by Summer 2012

Published: March 7, 2012; 19:12 · (Vindobona)

According to the government´s plans, the Austrian financial market authority (FMA) should obtain more competences.

Bank Insolvency Act to be Finished by Summer 2012 / Picture: © Vindobona.org

After the bail-out of VBAG, the coalition parties SPÖ and ÖVP draw conclusions. Until summer, a new bank insolvency act should be finalized. First ideas arose already in 2009, when Hypo Group Alpe Adria was nationalized.

The social democrats prefer the German model. There, the bank supervision is enabled to overrule the bank´s owners, as soon as problems are emerging.…

This article includes a total of 185 words.

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