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Hypo Group Alpe Adria

Hypo Group: Risk Identified Already in 2009

Three months after a report on the risk and susceptibility to fraud of Hypo Group’s leasing affiliates was published by PwC, ailing Hypo Group was nationalized.

March 3, 2014

„Austria Needs an Excellent Minister of Finance“

Andreas Treichl, CEO of the third-biggest lender in Central, Eastern and Southeastern Europe expressed subtle doubt as to whether Michael Spindelegger is the right person for the job.

March 2, 2014

Treichl: „Not Afraid of Hypo Group Bankruptcy“

Andreas Treichl, CEO of Vienna-listed Erste Group does not think that a potential bankruptcy of the nationalized lender Hypo Group Alpe Adria would affect Erste Group´s rating.

March 1, 2014

Hypo Group: Five Potential Buyers for CESEE Affiliates

Alexander Picker, CEO of the nationalized bank Hypo Group Alpe Adria, is optimistic that the affiliates in the Western Balkan countries may be sold until the end of 2014.

March 1, 2014

Moody´s Confirms Austria´s Rating Despite Hypo Group Disaster

The rating agency has reiterated Austria´s top sovereign debt rating. Moreover, the outlook was upgraded from “negative” to “stable”.

March 1, 2014

Hypo Group: Decision about Future Delayed

The decision about the future of Austrian problem bank Hypo will be delayed.

February 28, 2014

Hypo Group: “Worst Thing If Government Does Not Make Decision”

According to Felderer, President of the Fiscal Council, a downgrade in the country rating must not be taken “too seriously”.

February 28, 2014

Hypo Group: New Figures Added to Number Games

The number games in regard to Hypo Group’s downsizing to not seem to cease. New figures will be released by the bank’s task force at the beginning of next week.

February 27, 2014

Hypo Group Insolvency to Cost € 10bn at Least

Taxpayers in Austria would be burdened with at least € 10bn if Hypo Group was sent into insolvency.

February 26, 2014

Austria: National Assembley Rejects Investigation Committee

The parliamentary investigation committee for Hypo Group, demanded by the opposition parties, was rejected in a roll-call vote in the National Assembley.

February 26, 2014

Austria: Hypo Group Council to Strain Budget Even More

The Finance Ministry will appoint an international consulting team for the downsizing of nationalized problem bank Hypo Group Alpe Adria. However, costs are increasing dramatically by this step.

February 25, 2014

Austria: “Council of the Wise“ for Hypo Group

Instead of a parliamentary investigation committee the coalition expressed its wish to appoint a “Council of the Wise” for the the assessment of the ailing bank’s nationalization.

February 25, 2014

Hypo Group: Nowotny Calls for Fast Proceeding

Newly designated head of Hypo Group’s task force, Governor of the Austrian National Bank (OeNB) Ewald Nowotny, calls upon the government to fastly proceed with the downsizing of the ailing bank.

February 24, 2014

Austria: Spindelegger under Attack

Finance Minister Spindelegger is under attack by former head of Hypo Group’s task force, Liebscher.

February 24, 2014

Hypo Group: Nowotny to Replace Liebscher

After Liebscher, head of Hypo Group’s task force, announced throwing in the towel Nowotny, Governor of the Austrian National Bank (OeNB), will become his successor.

February 22, 2014

Hypo Group: 35 Percent Say FPÖ Has Main Share of Blame

According to a survey conducted by Austrian news magazin “Profil”, 35 percent consider the Austrian Freedom Party (FPÖ) to bear the main share of the blame in regard to the financial disaster of Hypo Group.

February 22, 2014

Felderer: Insolvency More Expensive Than Bad Bank

According to Felderer, president of the fiscal council, the option of insolvency for Hypo Group Alpe Adria is more expensive than the establishing of a national bad bank

February 22, 2014

Austria: Investment Banker Part of Hypo’s Expert Group

A former investment banker is supposed to support Austrian government in the Hypo Group issue.

February 21, 2014

Austria: Head of Hypo Group’s Task Force to Resign

Klaus Liebscher, head of Hypo Group’s task force, steps down.

February 21, 2014

Government Examines Haircut of Hypo Group’s Investors

Ignoring the warnings of Hypo Group’s task force, Finance Minister Michael Spindelegger now wants investors in Hypo Group to participate in the restructuring of the ailing bank.

February 21, 2014

Fitch Keeps Rating for Austria at High Level

According to the Rating agency the downsizing of Hypo Group will burden the debt rate. However, the outlook for the country’s credibility was left at a “stable” outlook.

February 21, 2014

Spindelegger: Taxpayers Should Not Carry Whole Load

Finance Minister Spindelegger declared himself in favor of a haircut of creditors of problem bank Hypo Group.

February 20, 2014

Austria: Rating Endangered

US-based rating agency Fitch will update its country rating for Austria tomorrow. Finance Minister Spindelegger is in favor of a haircut for investors of Hypo Group Alpe Adria.

February 20, 2014

Austrian Government Wants International Group of Experts

More and more voices for a parliamentary investigation committee for ailing bank Hypo Group Alpe Adria are being raised even within the SPÖ and the ÖVP. However, the government has other plans.

February 20, 2014

Hypo Österreich = Austrian Anadi Bank

Hypo Österreich will be renamed to “Austrian Anadi Bank”.

February 20, 2014

Liebscher: Government Is to Blame

Head of Hypo Group’s Task Force Klaus Liebscher rejects being turned into the scapegoat of delaying important decisions about the downsizing of the problem bank. Instead, he points his finger to the Austrian government.

February 20, 2014

Hypo Disaster: Who Are the Beneficiaries?

International investment companies, funds and domestic banks are the major recipients of the billions of Euros in the Hypo Group disaster.

February 19, 2014

Picker: Hypo to Cost Taxpayers “Only” up to € 4bn

According to CEO of Hypo Group Alpe Adria Picker, the ailing bank will burden taxpayers with “only“ € 4bn at the most. Head of IHS, Keuschnigg, warns the Austrian policy-makers of forwarding costs to bondholders.

February 19, 2014

Austria: Moody’s Downgrades Four Bonds

Moody’s downgraded four bonds of Austrian banks on Tuesday. The outlook is negative.

February 19, 2014

Hypo-Disaster: Government Playing Hide and Seek

After the emergency sitting in the National Assembley, which was demanded by the opposition parties and took place yesterday, the Austrian government refused to answer questions to the press and the public.

February 18, 2014

Hypo Bankruptcy Could Severly Harm BayernLB

Rating agency Moody’s sees German BayernLB impacted by the critical capital situation in the coming years.

February 18, 2014

Austria: Still No Clarity in Hypo Group Disaster

The Austrian parliamentary parties continue to shift the blame onto each other. Details still have not been presented yet.

February 17, 2014

Hypo Group: „Austrian Government Has Negotiated Poorly“

In the cause of the nationalized Balkan lender Hypo Group Alpe Adria, the performance of the Austrian government is miserable, according to Austrian economist Christian Keuschnigg.

February 16, 2014

Threat of Bankruptcy: Moody´s Cuts Hypo Group Alpe Adria´s Rating

The U.S. rating agency downgrades the rating of the Austrian nationalized lender by four notches. Moody´s referred to the uncertainty and the vague statements of the Austrian government.

February 15, 2014 · Updated: February 15, 2014; 18:47

Hypo Group Alpe Adria: Nowotny Attacks Fekter

Governor of the Austrian National Bank (OeNB) Ewald Nowotny criticizes former Minister of Finance Maria Fekter sharply and blames her for inactivity.

February 15, 2014 · Updated: February 15, 2014; 18:19

EU Puts Limit to State Aids for Hypo Group

So far, € 4.8bn in capital aids had to be injected into ailing bank Hypo Group Alpe Adria. According to an EU statement, the Austrian state is only permitted to spend € 3.65bn on Hypo Group.

February 14, 2014

„We Were Cheated by BayernLB“

Hannes Androsch, head of the Hypo Group task force, thinks that the former Austrian government has made serious mistakes.

February 13, 2014

IHS Rejects Hypo Group’s Bankruptcy

According to Keuschnig, it is also a question about a “national bankruptcy“.

February 13, 2014

Spindelegger: “Hypo Already Burdened Budget in Past”

The government has still not yet published figures in regard to the current fiscal burden emerging from the winding-up of problem bank Hypo Group Alpe Adria.

February 13, 2014

Hypo Group: Emergency Sitting in National Assembley Fixed

An extraordinary session in the National Assembley will take place next Monday in regard to Hypo Group Alpe Adria.

February 12, 2014

Hypo Group: Bad Bank Active at Least 10 Years

Austria’s rating by Standard & Poor’s (“AA+”, stable outlook) is currently not compromised. Because of the establishing of the bad bank the debt rate will rise four to six percent.

February 12, 2014

Hypo-Disaster: Harsh Criticism from Opposition

The opposition parties have expressed their unanimous criticism about the government failing to come to a joint decision with the Austrian banks and consequently forwarding all costs to the taxpayers.

February 11, 2014

Austria: Hypo Group Becomes Fiasco for Taxpayers

The most expensive solution for the winding up of troubled Hypo Group becomes imminent.

February 11, 2014

Austria: Bank Participation for Hypo Off

A participation model with Austrian banks can be ruled out for ailing Hypo Group. Instead, a more expensive version will be applied.

February 10, 2014

FMA: Hypo Group Bankruptcy Incalculable Risk

The government does not dismiss the idea of a bankruptcy of ailing Hypo Alpe Adria. However, the Financial Market Authority (FMA) has expressly warned of this form of downsizing of the state bank.

February 10, 2014

Hypo Group Alpe Adria: The War of Nerves Has Begun

The Austrian government puts enormous pressure on the Austrian banking sector and does not exclude Hypo Group´s orderly bankruptcy anymore. The Austrian banking sector insistently warns of this option.

February 9, 2014 · Updated: February 9, 2014; 23:41

Hypo Group Alpe Adria: Sevelda Rejects „Joint Bad Bank“

Karl Sevelda, CEO of Vienna-listed RBI (Raiffeisen Bank International), does not want to become shareholder of the common bad bank for the nationalized lender Hypo Group Alpe Adria.

February 9, 2014

Hypo Group Alpe Adria: Extreme Burden for Austrian State Budget Ahead

The bad news about the nationalized Balkan lender do not break up. In 2014, the Austrian problem bank may cause costs in the amount of € 9bn.

February 7, 2014

Hyp Group Alpe Adria: “No Unnecessary Bankruptcy”

Klaus Liebscher, president of Hypo Group´s supervisory board, points out that Hypo Group´s bankruptcy would involve enormous risks. The Austrian government remains conspicuously calm.

February 7, 2014

Hypo Group Alpe Adria: Harsh Criticism on Austrian Government

The Austrian opposition blames the government for concealing the biggest financial disaster in Austria´s history. Governor of the Austrian National Bank Ewald Nowotny is under fire too.

February 6, 2014
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