OeNB Austrian National Bank

Hypo Group: Decision about Downsizing Expected Soon

At the beginning of next week the final report for the planned downsizing of Hypo Group will be presented.

March 4, 2014

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/Ukraine: Bank Accounts of Former Leading Politicians to be Frozen

Austria imposes unilateral sanctions against 18 members of the overthrown Ukrainian regime. Among the high-ranking officals are former president Viktor Yanukovych and his son Oleksander Yanukovych.

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

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 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

Nowotny: Negative Interest Rate Conveys Feeling of Crisis

Ewald Nowotny, member of the Council of the ECB (European Central Bank) and governor of the Austrian National Bank (OeNB), expressed his rejection regarding a possible negative interest rate for banks.

February 18, 2014

Government Downplaying Effects of Hypo Group Desaster

Today, both Chancellor Werner Faymann and Finance Minister Michael Spindelegger had to explain their actions in regard to Hypo Group Alpe Adria in parliament.

February 17, 2014

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

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-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: 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

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

Hypo Group Alpe Adria: Bankruptcy Would Affect Foreign Investors

In case of an unorderly insolvency of the Austrian nationalized lender, not only Austrian creditors would have to absorb losses. The majority of the bondholders are German and Swiss investors.

February 6, 2014

Austrian National Bank: Hypo Bankruptcy Would Cost € 24bn

The nationalized Balkan lender Hypo Group Alpe Adria causes major difficulties. Although the bankruptcy would be the cheapest option for Austrian taxpayers, the Austrian National Bank tries to prevent this scenario by all means.

February 5, 2014

Hypo Group Alpe Adria: Fitch Recommends “Joint Bad Bank”

According to the rating agency, the best alternative is a joint solution between the Austrian state and privately held banks. In return, the bank levy should be reduced, Fitch says.

February 5, 2014

“Hypo Group Bankruptcy Would Affect RBI Adversely“

According to the Vienna-based Raiffeisen Bank International, both a joint bad bank and Hypo Group´s insolvency have negative consequences on RBI´s share.

February 5, 2014

Austrian Government Does Not Rule Out Hypo Group´s Bankruptcy Anymore (2/2)

In the past few weeks, the Austrian government and the Austrian National Bank excluded this alternative categorically. Now, the bankruptcy scenario seems to be an option again.

February 4, 2014

Austrian Government Does Not Rule Out Hypo Group´s Bankruptcy Anymore (1/2)

In the past few weeks, the Austrian government and the Austrian National Bank excluded this alternative categorically. Now, the bankruptcy scenario seems to be an option again.

February 4, 2014

„Hungary and Austria Must not Become Enemies“

Ewald Nowotny, governor of the Austrian National Bank (OeNB) wants a solution between the Hungarian government and the Austrian banking sector.

February 4, 2014

Nowotny: “We Want Clarity“

The governor of the Austrian National Bank presses the government for swift actions to find an acceptable downsizing solution for Hypo Group. Further steps will only be made in February.

January 27, 2014

Hypo Group Alpe Adria: Austrian Government Is Helpless

The nationalized lender urgently needs a sustainable future concept. In reality, however, uncertainty is dominating.

January 27, 2014

Hypo Group Denies New Capital Shortfall

The nationalized Austrian lender Hypo Group Alpe Adria is said to require fresh founds in the amount of € 500m. The bank´s management claims the opposite.

January 25, 2014

Austria: OeNB Forecasts Modest Economic Growth

According to the Austrian National Bank (OeNB) economic growth in Austria only came at 0.3 percent last year.

January 24, 2014

Hypo Group: Decision Within First Quarter of 2014

The long-awaited meeting between the government and Hypo Group’s taskforce has been fixed to find a solution of the Austrian problem bank. The option of a bank participation is still on top of the list.

January 23, 2014

Austrian Bank Levy: “Penalty Gone Wild”

On the basis of a new method of calculation around € 90m more in bank levy should be generated compared to the previous year.

January 22, 2014

“No Real Wage Loss This Year“

In terms of real wages, Austria may face a trend reversal this year. In Southeastern Europe, by contrast, poverty is growing considerably.

January 21, 2014

Austria: Nowotny Calls for Fast Decision on Hypo Group

The Governor of the Austrian National Bank (OeNB) presses the government to act quickly and avoid further straining the budget and burdening the taxpayers.

January 21, 2014

Austria: Real Estate Prices Surging since Financial Crisis

Prices in the Austrian real estate market have been rising dramatically since the financial crisis broke out.

January 20, 2014

Austrian Banks to Resist Further Burdens?

Podium discussion at Viennese law firm Binder Grösswang.

January 20, 2014

Mitterlehner: „Hypo Group Must Not Burden State Budget“

Austria´s Minister of Economics underlined that the Austrian government is looking for an effective and cost-saving solution for the nationalized Lender Hypo Group Alpe Adria.

January 20, 2014

Austria Inflation Rate Dropped in 2013

Last year the overall annual inflation rate dropped to 2.0 percent after 2.4 percent in the previous year.

January 16, 2014

Hypo Group: No Alternative to Bad Bank

The time pressure on the Austrian government is growing day by day. The nationalized Austrian problem bank urgently needs a bad bank.

January 14, 2014

Nowotny Sees Growth Potential in Eurozone and CEE

According to Ewald Nowotny, governor of the Austrian National Bank (OeNB), the outlooks for economic upturn in the Eurozone and Central/Eastern Europe have improved significantly compared to only a year ago.

January 14, 2014

Austria: Expert Paper for Hypo Group’s Bad Bank

An expert paper about possible downsizing options for state-controlled problem bank Hypo Group Alpe Adria is expected to be handed in to the government until the middle of the week.

January 13, 2014

Austria: Distribution of Wealth Extremely Unequal

The top one percent of Austrian households possesses more than 50 percent of all investment income.

January 13, 2014

Hypo Group: Fatal Errors of Austrian National Bank

Before Hypo Group Alpe Adria was nationalized in late 2009, the Austrian National Bank (OeNB) has misjudged the situation of the problem bank completely. The Austrian government demonstrates its incompetence once again.

December 30, 2013

Hypo Group: Austrian Government Seems Aimless

Although the restructuring of the nationalized Austrian lender is one of the most pressing issues, the Austrian government could not present a sound concept yet.

December 27, 2013

Austria: Slight Lending Growth

The Austrian National Bank (OeNB) rejects reports on credit shortages. In contrast to the Eurozone, Austria´s banking industry expands lending.

December 20, 2013

Austria: Options of Bad Bank for Hypo under Examination

Finance Minister Spindelegger intends to meet with experts to discuss options of a bad bank for Hypo Group Alpe Adria.

December 20, 2013

Hypo Group´s Bankruptcy: Major Threat for Raiffeisen Sector

In case of Hypo Group Alpe Adria´s bankruptcy, the Austrian banking sector would have to absorb enormous write-offs. Above all, mortgage institutions in the Raiffeisen sector would be endangered.

December 19, 2013

Hypo Group Insolvency: Total Damage of € 26bn

Ewald Nowotny, governor of the Austrian National Bank (OeNB), warns of follow-up costs in case of a bankruptcy of the Austrian nationalized lender.

December 17, 2013

Austrian Banks: “Less than No Interest” in Bad Bank Participation

According to Felderer, Austrian major banks have “less than no interest” in a participation of a Hypo Group’s bad bank.

December 17, 2013

Austria: Fate of Hypo Group Still Unclear

Only next year the fate of ailing bank Hypo Group Alpe Adria will be determined.

December 16, 2013

Capital Injection for Hypo Group Approved

In the general assembley of Hypo Group the path was cleared for a further capital injection in the amount of € 800m.

December 13, 2013

Austria: Hypo Group Insolvency Best Solution for Taxpayers

According to consulting agency Oliver Wyman, an insolvency of ailing bank Hypo Group would be the most favorable option for taxpayers as instead of domestic banks foreign banking institutes will be burdened.

December 12, 2013

Austrian Banking Industry Depends on Russia and Czech Republic

For the Austrian banking sector, the CESEE region is highly heterogeneous. In the first six months of 2013, net earnings totaled € 1.4bn in the region.

December 12, 2013

Austria: Nowotny Reiterates Statement

Ewald Nowotny, governor of the Austrian National Bank (OeNB), reiterated his view on Hypo Group.

December 11, 2013

OeNB Calls on Austrian Banks to Strengthen Their Capital Base Further

Presentation of the Financial Stability Report 26 of the Oesterreichische Nationalbank (OeNB).

December 11, 2013

Hypo Group Alpe Adria to Receive Next Capital Injection

On Friday the ailing bank is expected to receive fresh money again in association with the extraordinary general meeting.

December 11, 2013
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