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Nowotny: Austrian Banking Sector “More Boring, but More Stable”

Published: August 31, 2012; 12:01 · (Vindobona)

European Forum Alpbach: Ewald Nowotny, governor of the Austrian Central Bank (OeNB) thinks that banks will fight for deposits in future. In the last years, ECB had to prevent a collapse of the financial system several times.

Nowotny: Austrian Banking Sector “More Boring, but More Stable” / Picture: © Wikipedia / Christian Wirth (Wirthi)

On the occasion of the Alpbach Financial Market Market Symposium 2012, the future of the banking business was discussed. Nowotny explains that liquidity was no issue until August 2007. The subprime-crisis and the collapse of Lehman changed this situation, however. Now, liquidity is a dominating issue for both the banking sector and the real industrial sector, Nowotny says.

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