Distressed Oevag splits bank the old way

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Distressed Oevag splits bank the old way

The assets of distressed Austrian bank Oevag will be divided between a bad bank and Volksbank Wien-Baden. Unlike the case of Kommunalkredit however, all of the bank’s outstanding covered bonds will be transferred to Volksbank. Analysts say this indicates the Austrian regulator is returning to a more traditional and investor friendly method of bank splitting.

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