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€ 4.0bn Capital Requirement for Austrian Banks

Published: October 17, 2011; 16:42 · (FriedlNews)

After the industrialist Hannes Androsch, also the Vice-President of the Austrian Central Bank (OeNB), Wolfgang Duchatczek, sees a need to support domestic banks.

Regarding the current economic tendencies, the equity base of Austrian banks could be too weak. Hannes Androsch already emphasized several times his claim to strengthen the equity capital situation of Austrian banks.

Wolfgang Duchatczek, member of the board of the Austrian Central Bank, agrees with Androsch. According to Duchatczek, € 4.0bn could be needed soon. However, he believes that not the whole sum of € 4.0bn would be required immediately.

In 2009, the Austrian Ministry of Finance provided state capital of € 15.0bn to domestic banks in order to support their capital requirements. € 9.0 were used, € 6.0 are still left. Duchatczek states that the bank aid package could cost up to € 200 to 230m.

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Wolfgang Duchatczek, Hannes Androsch, Equity, Bank Aid, Participation Capital, Banking Industry