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ECB European Central Bank

Slovenia: „Irish or Greek Way“

The Slovenian economist Egon Zakrajsek explains that Slovenia´s illiquidity only a question of time. The problem banks should be sold, he recommends.

September 5, 2012

Slovenian Bankruptcy Would Hit Austria Particularly Hard

Prime Minister Janez Jansa announced that Slovenia may have to declare its national bankruptcy in October. Austria´s share in foreign direct investment made in Slovenia reaches about 50%.

September 3, 2012

FPÖ Wants Nowotny to Resign

The biggest Austrian opposition party criticizes the governor of Austrian Central Bank (OeNB) sharply. FPÖ´s leader Strache blames Nowotny to violate the “no bailout” clause.

September 1, 2012

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

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.

August 31, 2012

Pribil: „ECB Must Not Become Safe Haven for Zombie Banks”

At the European Forum Alpbach, the Director of the Austrian Financial Market Authority (FMA) Kurt Pribil stresses the importance of a centralized banking supervision authority.

August 31, 2012

Austrian Guarantees Total € 80bn

In the worst case, Austria´s public debt quota may increase up to 100%, the Austrian opposition warns.

August 27, 2012

Grexit: Aiginger Warns of Shock in the Balkan Region

Wifo´s (Austrian Institute of Economic Research) director Karl Aiginger thinks that a Greek exit would not only cause big problems for Greece itself, but for the whole Balkan region.

August 21, 2012

Great Demand for Polish Sovereign Bonds

Last week, the interest rate on Polish sovereign bonds fell to a all-time low of four percent. However, a trend reversal is not unlikely.

August 18, 2012

Investor Confidence in Austrian Issues Remains Very High

Austria’s government and corporate sectors are still able to borrow at historically low rates, the loss of the triple A sovereign rating notwithstanding.

August 3, 2012

Nowotny Wants Bank License for ESM

The governor of OeNB (Austrian Central Bank) Ewald Nowotny told the news agency Bloomberg that there would be some good reasons for this solution.

July 26, 2012

Austerity Program at RBI

Raiffeisen Bank International´s CEO Herbert Stepic is against a capital increase. The market conditions would be unfavorable.

July 20, 2012

Nowotny to be Re-Elected

The governor of OeNB (Austrian Central Bank) Ewald Nowotny is said to be re-elected in his current position.

July 18, 2012

Banking Supervision: Nowotny Warns of Botch

The governor of the Austrian Central Bank (OeNB) thinks that the timeline fort he planned unified banking supervision authority is „very short“.

July 10, 2012

Hungary: Negotiations on IMF Loan to be Concluded in Autumn

Since January, the Hungarian government tries to secure a € 15bn loan by IMF and the European Central Bank. A final solution may be found in the next months.

July 7, 2012

„ECB as Only Supervisor Not Likely“

OeNB`s (Austrian Central Bank) Governor Ewald Nowotny does not think that ECB will act as only banking supervision authority.

July 2, 2012

Euro-Crisis Continues

According to RCB, the factional dispute between Germany and France decisive for the eurozone. An easing of the situation is not expected.

June 29, 2012

WIFO Wants Unlimited Firewall

According to the Austrian Institute of Economic Research, the firewall must be big enough in order to make speculation against the euro unattractive.

June 28, 2012

Nowotny: „Bank Aids Rescue Economy“

The governor of the Austrian Central Bank OeNB underlines the necessity of the bail-out of Spanish banks.

June 23, 2012

Nowotny Pushes Spain to Call for Help

The governor of Austria´s Central Bank Ewald Nowotny appeals on the Spanish government to call for help and fears that the situation could become even worse for Spain otherwise.

June 9, 2012

Nowotny: „Keeping Greece in Eurozone Has Highest Priority“

The Governor of the Austrian Central Bank (OeNB), Ewald Nowotny thinks that ECB does not plan a new bond purchase program.

May 29, 2012

Greek Exit: € 5.0bn Costs for Austria „In the Best Case“

Bank Austria´s chief economist Stefan Bruckbauer warns of exorbitant costs in case of a Greek exit out of the Eurozone. A common solution would be the better alternative.

May 19, 2012

„ECB Must Help Spain“

If real estate price in Spain fall further, Spanish banks were not able to bear that risk. A Greek exit could cost Austria up to € 10bn.

May 18, 2012

Greek Exit: Costs of € 7.7bn for Austria

Austria could have to bear costs of up to € 7.7bn if Greece leaves the Eurozone. Austrian guarantees amount to € 3.1bn.

May 14, 2012

Nowotny: “ECB Uses Bond-Buying Program Extremely Cautiously”

The governor of Austrian Central Bank (OeNB) Ewald Nowotny said the bank only buys government bonds in certain situations and with “extreme” caution.

April 21, 2012

Austria Rejects Bank Bonds of Southern Euro-Members

The Austrian Central Bank will join Germany’s Bundesbank in rejecting as collateral bank bonds guaranteed by member states receiving aid from the European Union and the International Monetary Fund.

April 4, 2012

Nowotny: “Portugal in Much Better Shape Than Greece”

The Governor of the Austrian Central Bank (OeNB) and ECB Council Member Ewald Nowotny is optimistic on Portugal´s medium-term prospects. The country faces much less liquidity constraints than Greece.

March 21, 2012

Modest Economic Spring With Upward Potential

Bank Austria Business Indicator for February confirms that the economic turnaround has already begun. The outlook is positive.

March 19, 2012

OeNB´s Nowotny Says Regaining AAA Credit Rating Can Take Years

European Central Bank Governing Council member Ewald Nowotny said history has shown that it can take years for a country to win back an AAA rating.

February 25, 2012

Austrian Central Bank Lets Eligibility Criteria Ease

OeNB: ECB governing council endorses expansion of eligibility criteria for nonmarketable assets.

February 10, 2012

Strache Claims Cut in Subsidies

The chairman of the Austrian opposition party FPÖ criticized the government fiercely for its fiscal policy.

January 23, 2012

Conference on European Economic Integration

“European Integration in a Global Economic Setting – CESEE, China and Russia“. Conference jointly organized by the Oesterreichische Nationalbank and Suomen Pankki – Finlands Bank.

November 18, 2011

OeNB and People’s Bank of China Sign Investment Agreement

The agreement enables the Austrian National Bank to Invest via PBC in Renminbi-denominated assets.

November 10, 2011

Tumpel-Gugerell Appointed to the Supervisory Board of ÖBB

The former central banker will join the Supervisory Board of the Austrian Federal Railways’ holding company.

August 18, 2011

Austrian Banks React to ECB’s Interest Rate Decision

The Austria banks quickly passed on the interest rate hike to their customers. Christoph Leitl regards the decision as an impediment for budgetary consolidation.

July 8, 2011

Lending Behavior of Banks Remains Stable

The credit policy of Austrian banks remained stable for the third year running in the first quarter of 2011 and it is also expected to remain unchanged in the second quarter of 2011.

April 28, 2011

Austrian National Bank Expects Tougher "Stress Tests"

The EU-wide bank stress tests planned for 2012 should turn out to be more rigorous, according to the Oesterreichische Nationalbank (OeNB).

March 19, 2011

Increase of Inflation Forecast

The Austrian Institute of Advanced Studies (IHS) increases its inflation expectations to 2.4% due to the increase in energy prices

February 24, 2011

ECB: Praet Succeeds Tumpel-Gugerell

The Belgian Peter Praet succeeds the Austrian Gertrude Tumpel-Gugerell as new member of the Executive Board of the ECB (European Central Bank).

February 15, 2011

Austrian Inflation to be well above 2% in 2011

Temporary price-drivers of fuels, commodities as well as the budget consolidation spurring inflation on, but lack of cyclical inflationary pressures.

January 27, 2011

EU: New Early Warning System Against Financial Market Risks

Two Austrian officials point out the relevance of the new institution, which will particularly benefit Austria.

January 21, 2011

Pröll is Against the Extension of the Euro Shield

The Austrian Finance Minister, Josef Pröll (ÖVP), called for stricter budget discipline and pronounces himself against a more extensive rescue shield

January 20, 2011

Nowotny: No Euro-bonds Yet

Although he supports the euro-bonds in principle, the time has not come yet for the Governor of the Austrian National Bank.

December 10, 2010

Trichet Succession: The Austrian Nowotny Has Chances As Outsider

The European Central Bank (ECB) will appoint a new president in November 2011. The favorites are the German Axel Weber and the Italian Mario Draghi. But Nowotny has outsider chances.

November 5, 2010

Local banks in stress test "within normal range"

OeNB Governor criticizes EU Commission: State aid procedure too long - debt reduction, dampening the economy Austria's banks performed within "the normal range, in midfield," the Governor of the Austrian National bank (OeNB) and Governing Council memb

July 13, 2010