{"id":19819,"date":"2016-04-11T20:23:10","date_gmt":"2016-04-12T01:23:10","guid":{"rendered":"http:\/\/olduvai.ca\/?p=19819"},"modified":"2016-04-11T20:23:43","modified_gmt":"2016-04-12T01:23:43","slug":"bank-bail-ins-begin-as-eu-bank-bailed-in-in-austria","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=19819","title":{"rendered":"Bank Bail Ins Begin as EU Bank \u201cBailed In\u201d In Austria"},"content":{"rendered":"<h3 class=\"entry-title\"><a href=\"http:\/\/www.goldcore.com\/us\/gold-blog\/bank-bail-ins-begin-as-eu-bank-bailed-in-in-austria\/\" target=\"_blank\">Bank Bail Ins Begin as EU Bank \u201cBailed In\u201d In Austria<\/a><\/h3>\n<div>\n<p>Bank bail ins in the EU are here after Austria\u2019s financial markets regulator FMA imposed a hefty haircut on creditors in an Austrian bank. Creditors in the\u00a0bank\u00a0Heta Asset Resolution will receive less than half of their money back according to the country\u2019s financial regulator, the FMA.<\/p>\n<p><a href=\"http:\/\/info.goldcore.com\/what-savers-and-depositors-need-to-do-to-protect-their-savings-and-deposits-from-bank-bail-ins\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-3187 size-full\" src=\"http:\/\/www.goldcore.com\/ie\/wp-content\/uploads\/sites\/19\/2015\/06\/euro_drachma.png?7151f9\" alt=\"euro_drachma\" width=\"448\" height=\"337\" \/><\/a><\/p>\n<p>Senior bondholders in the so called \u201cbad bank\u201d could expect to receive around \u20ac0.46 for each euro which would be paid from the realisation of assets by 2020, according to the\u00a0FMA statement. It said that this had been calculated using\u00a0<em>\u201cvery conservative\u201d<\/em>\u00a0assumptions.<\/p>\n<p><em>\u201cThis package of measures also ensures the equal treatment of creditors. Orderly resolution is more advantageous than insolvency proceedings,\u201d t<\/em>he FMA said.<\/p>\n<p>Bond maturities, however, will be extended to 31 December 2023 as \u201call currently outstanding legal disputes will realistically only be concluded by the end of 2023\u201d. \u201cOnly at that point will it be possible to finally distribute the assets and to liquidate the company,\u201d the regulator said.<\/p>\n<p>In November 2015, the largest collection of creditors, which included Pacific Investment Management Co (PIMCO), Commerzbank , FMS Wertmanagement AoeR and a collection of distressed debt investors, proposed to extend bond maturities for 30 years in return for repayment in full.<\/p>\n<p>Representatives of Austrian province Carinthia and creditors of the failed regional lender are to meet in London tomorrow to try to break the impasse over a bond buyback scheme, an Austrian newspaper reported.\u00a0Carinthia, a southern Austrian province, guaranteed the debt of local lender Hypo Alpe Adria before the bank collapsed and now faces the threat of insolvency if it had to honour the 10.8 billion euro ($12.3 billion) debt in full.<\/p>\n<p>Heta Asset Resolution was formed to wind down the bank but regulators froze Heta\u2019s debt repayments after discovering a gaping capital hole at the bad bank.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bank Bail Ins Begin as EU Bank \u201cBailed In\u201d In Austria Bank bail ins in the EU are here after Austria\u2019s financial markets regulator FMA imposed a hefty haircut on creditors in an Austrian bank. Creditors in the\u00a0bank\u00a0Heta Asset Resolution will receive less than half of their money back according to the country\u2019s financial regulator, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[42,3855,1074,63,13415,284,8689,13416,3856,11511],"class_list":["post-19819","post","type-post","status-publish","format-standard","hentry","category-economics","tag-austria","tag-bad-bank","tag-bail-ins","tag-banks","tag-bondholders","tag-european-union","tag-goldcore-com","tag-heat-asset-resolution","tag-hypo-alpe-adria","tag-mark-obyrne"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/19819","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19819"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/19819\/revisions"}],"predecessor-version":[{"id":19821,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/19819\/revisions\/19821"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19819"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19819"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19819"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}