Hypo Group May Need Further State Aid
The directors of the Austrian Financial Market Authority (FMA) did not exclude that the nationalized Hypo Group Alpe Adria has a substantial capital shortfall.
Helmut Ettl, director of FMA said that Hypo Group may need further funds from the owner, the Austrian state. At the moment, FMA waits for the analysis of the Austrian Central Bank (OeNB). In autumn, the analysis should be presented.
In March, FMA extended the deadline for Hypo Group to build up capital reserves. Based on the newest data, the capital shortfall should be examined…