The Austrian Financial Market Authority (FMA) has today recalled Michael Spitzer by means of an administrative decision with immediate effect from his role as temporary administrator pursuant to Article 46 of the Federal Act on the Recovery and Resolution of Banks (BaSAG) of “Raiffeisenbank Althofen – Guttaring, registrierte Genossenschaft mit beschränkter Haftung” (RB Althofen) with its registered address at Kreuzstraße 15, 9330 Althofen. The need for early intervention pursuant to Article 44 para. 2 BaSAG at Raiffeisenbank Althofen-Guttaring reg.Gen.m.b.H., which necessitated the appointment of a temporary administrator on 20.01.2022, no longer exists. Yesterday, at a general meeting, Raiffeisenbank Althofen-Guttaring reg.Gen.m.b.H. decided to merge with three other primary Raiffeisen banks, namely Raiffeisenbank Gurktal eGen, Raiffeisen Regionalbank Längsee-Hochosterwitz eGen as well as Raiffeisenbank Hüttenberg-Wieting reg.Gen.m.b.H.
The appointment of a temporary administrator constitutes an early intervention measure, and allows the FMA to counteract actual or potential breaches against provisions under supervisory law at the earliest possible stage. This early intervention measure applies until the need for early intervention is lifted, but is limited to a maximum period of twelve months.
Journalists may address further enquiries to:
Klaus Grubelnik (FMA Media Spokesperson)
+43 0 676 88249516
+43 (0)1 249 59 – 6006