Article Tools

Hypo Group: Urgent Need for Fresh Money

Published: November 11, 2013; 08:35 · (Vindobona)

The ailing nationalized bank Austrian Hypo Group Alpe Adria has a capital shortfall of € 1.3bn. The gap must be closed before the end of the year.

Hypo Group: Urgent Need for Fresh Money / Picture: © Wikipedia / JJ55 (30 March 2008)

In order to keep the equity quota above 8.0%, the Austrian state has to inject further funds. Until the end of the year, Hypo Group has to cover the capital shortfall amounting to € 1.3bn. Otherwise, the Austrian state would have to inform the ECB immediately. In this case, Hypo Group has to be liquidated within a few months. For the Austrian taxpayers, this would be the most…

This article includes a total of 255 words.

or Log In

Fast News Search