Sunday, 11. March 2012
Topic: AUSTRIA - on March 11, 2012 at 11:07:00 AM CET
Austria Faces $1.3 Billion Bank Injection After ISDA Triggers Greek CDS
Austria is facing a capital injection of as much as 1 billion euros ($1.3 billion) into KA Finanz AG less than two weeks after bailing out Oesterreichische Volksbanken AG. (VBPS)
The International Swaps & Derivatives Association yesterday ruled that Greece’s use of collective action clauses forcing investors to take losses under the nation’s debt restructuring will trigger default insurance payouts.
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