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E.U.: State aid: Commission approves restructuring aid to Austrian bank ÖVAG

By  |  September 21, 2012

The European Commission has concluded that restructuring aid granted by Austria to the Austrian bank Österreichische Volksbanken AG (ÖVAG) is in line with state aid rules. Public support was granted to ÖVAG in the form of capital injections totaling 1,250 million EUR (1,750 million USD), liquidity guarantees totaling 3,000 million EUR (3,500 million USD) and an asset guarantee of 100 million (125 million USD). 

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