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Banking Supervision: Nowotny Warns of Over-Ambition
According to the governor of OeNB (Austrian Central Bank), it would be dangerous to establish new institutions without a democratic legitimization.
September 18, 2012
Implementation of Banking Union to be Postponed
Initially, the Commission of the EU intended to introduce the banking union in 2013. After the fierce resistance of some member states, the Commission gives up its plans for the time being.
September 17, 2012
Poland Rejects Joining Banking Union
According to Poland´s Minister of Finance, a common supervision for banks is “not interesting”.
September 17, 2012
Banking Union: Austrian FMA Wants to Integrate Eastern European Countries
According to the board of Austria´s Financial Market Authority, not only the banks of the Eurozone should be supervised.
September 13, 2012
Nowotny: Not Overcharging ECB
Ewald Nowotny, governor of Austrian Central Bank (OeNB) argues that ECB should not control all banks.
September 13, 2012
Infringement Proceedings Against Hungary?
The Commission of the European Union is said to start infringement proceedings against Hungary because of the introduction of financial transaction taxes.
September 13, 2012
Banking Union: Poland Demonstrates Skepticism
Yesterday, the EU-Commission has made proposals regarding the banking union. The decision making process for non-Eurozone members would be unclear.
September 13, 2012
Slovenian Crisis: Opposition Reassures
Recently, Prime Minister Janez Jansa warned of a national bankruptcy. For the opposition, Slovenia is far from declaring its illiquidity.
September 11, 2012
Nowotny Hopes for ESM
The governor of OeNB (Austrian Central Bank) thinks that the bond purchases are not sufficient. Politics must help ECB, he argues.
September 10, 2012
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
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