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Austrian banks are complying with EBA Recommendation without difficulty

Release Date: |

Erste Group Bank AG and Raiffeisen Zentralbank AG had more than fulfilled the increase of the Core Tier 1 (CT1) ratio to nine per cent required by the European Banking Authority (EBA) as at the end of June 2012. This is the result of preliminary calculations undertaken by the Oesterreichische Nationalbank (OeNB) and the Financial Market Authority (FMA). The final report including more details on the Austrian banks will be published in September.

Overall, 27 European systemic banks have been requested to build up capital by the EBA. This should help restore market confidence in the banks.

Österreichische Volksbanken AG (ÖVAG), which was also in the initial sample, has meanwhile been partially nationalised as part of a restructuring process and is therefore no longer included.

Journalists may address further enquiries to:
Klaus Grubelnik (FMA)
+43/(0)676/882 49 516

Dr. Christian Gutlederer (OeNB)
+43/(0)1/404 20-6609
+43/(0)664/515 36 18

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