Author Topic: Bad Bank Proposals for Hypo Alpe-Adria Delayed to Mid-November  (Read 2171 times)

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Offline mayya

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Bad Bank Proposals for Hypo Alpe-Adria Delayed to Mid-November
« on: October 28, 2013, 18:47:17 PM »
  • October 28, 2013, 9:25 a.m. ET

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Bad Bank Proposals for Hypo Alpe-Adria Delayed to Mid-November

By Nicole Lundeen

VIENNA--The committee looking into splitting off the bad assets of Austrian nationalized lender Hypo Alpe-Adria-Bank International AG into a so-called "bad bank" won't be ready to submit its proposals to the government until the middle of November, the head of the committee said Monday.
Submission of the proposals had previously been expected by the beginning of October.
"The entire matter has turned out to be very complex and therefore has unfortunately taken somewhat longer," committee head Klaus Liebscher said in an interview with Austrian state radio Oe1.
Mr. Liebscher declined to give any details about the proposals or even how many there are.
He said his preference is for private banks to participate in the split-off bad bank. If the government had to assume sole responsibility, the bad assets would have to be included in the state's debt calculations, he said.
Hypo Alpe-Adria-Bank was nationalized in 2009 after it nearly collapsed in the wake of the financial crisis and high exposure to the Balkan region. The bank has received almost EUR3 billion ($4.14 billion) in state aid from the Austrian government.

Write to Nicole Lundeen at [email protected]


http://online.wsj.com/article/BT-CO-20131028-705257.html