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Foreign Currency Loans in Austria Fall to New Low in Q2 2024
The market for foreign currency loans in Austria continues to decline sharply. The Financial Market Authority (FMA) published a new survey for the second quarter of 2024, which shows a further significant decline in the outstanding volume of such loans.
The Swiss franc dominates Austria's foreign currency loans market, accounting for 98.6% of outstanding loans, with the remaining small proportion primarily in Japanese yen. / Picture: © Wikimedia Commons, Swiss National Bank, Public domain
Adjusted for exchange rate effects, the outstanding volume of foreign currency loans fell by EUR 360 million, which corresponds to a decrease of 5.3% compared to the previous quarter. Within the last twelve months, the volume fell by a total of 1.53 billion euros or 19.1%. As of June 30, 2024, 6.49 billion euros were still outstanding in foreign currency, marking a new low.
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