Relevant:
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- Austria Just Announced A 54% Haircut Of Senior Creditors In First "Bail In" Under New European Rules
- An Austrian Province Just Requested A State Bailout
- One Month After Austria's Black Swan Shocker, The ECB Quietly Asks Banks to "Detail Their Exposure"
- Heta Damage Spreads in Austrian Downgrades, German Losses
2015-03-02 — bloomberg.com
Hypo Alpe-Adria-Bank International AG creditors face losses after the Austrian government ruled out providing fresh capital and put the failed lender into resolution.
After 5.5 billion euros ($6.2 billion) of taxpayer money was injected into Hypo Alpe over five years, Chancellor Werner Faymann's administration decided on March 1 to stop supporting Hypo Alpe's bad bank, Heta Asset Resolution AG, when it was told Heta may need another 7.6 billion euros.
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