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EU approves recapitalisation plan for Austria's Bank Hypo Tirol.

Global Banking News-17 June 2009-EU approves recapitalisation plan for Austria's Bank Hypo Tirol(C)2009 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 17 June 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

The European Commission has approved a EUR100 million recapitalisation for Austrian bank Hypo Tirol, as part of its efforts to boost lending.

'The measure will enable Hypo Tirol to continue lending to the real economy, whilst avoiding disproportionate distortions of competition,' competition commissioner Neelie Kroes said.

The Austrian plan is aimed at providing a guarantee on capital subscribed by private investors and also ensuring an adequate capital ratio for the bank.

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Publication:Global Banking News (GBN)
Date:Jun 17, 2009
Words:129
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