Let´s bail ´em in! Austria and its failing Hypo Alpe-Adria-Bank/HETA

Banking & Finance

ILO Newsletter, 15. Mai 2015

Since the bail-in of Hypo Alpe-Adria-Bank International AG, the government has enacted legislation which fully implements the EU Bank Recovery and Resolution Directive, including the bail-in tool. In addition, the Financial Markets Authority - in its capacity as the resolution authority - recently issued an administrative ruling based on the act, imposing a moratorium on all liabilities owed by the wind-down entity HETA until May 2016.