Raiffeisen Research Comments on ECB’s Asset Quality Review of Austrian Banks

Businessn.a. ♦ Published: October 23, 2014; 09:00 ♦ (Vindobona)

With regard to the ECB’s asset quality review of Austrian banks, according to Bloomberg ECB Governor Nowotny has stated that Austrian institutes will largely pass the tests. When asked about Volksbank and that it might fail the tests, Nowotny stated that it is no secret that there will be one institution that might have gaps that need filling but there are precautions taken.

Banks in Austria that were examined in the course of the stress tests are: Bawag P.S.K., Erste Group, RLB OOE, ÖVAG, RLB NOE and RZB / Picture: © Vindobona.org

Furthermore, Raiffeisen Research emphasizes that the rumours being spread via various media should be taken with a great deal of salt.

Even the ECB has issued a press release addressing these rumours and announced that the banks involved in the tests have not received any final results.

According to the ECB the results are only final after the ECB Governing…