Romania Protests Against Austria´s Banks

Politics ♦ Published: November 28, 2011; 14:25 ♦ (Vindobona)

The Austrian Central Bank and the Financial Market Authority announced to oblige domestic banks to reduce their exposure in the CEE region. Romania fears a credit crunch.

Romania Protests Against Austria´s Banks / Picture: ©

Last week, the Austrian Financial Market Authority (FMA) and the Austrian Central Bank (OeNB) published a package of measures for domestic banks in order to strengthen their capital base. The business model in the CESEE region should become more sustainable. Besides this, the refunding structure of subsidiaries in the region should be improved.

According to the plans by OeNB and…