Contribution of the Austrian Government's Financial Market Interventions by HETA Asset Resolution AG to the Stabilisation of the Austrian Financial Market
This study assesses the contribution of the financial market interventions undertaken by the Austrian government to the stabilisation of financial markets in the country in the case of the processing of Hypo Alpe-Adria-Bank International AG via HETA Asset Resolution AG and examines, whether the measures taken achieved the economic policy objectives set by law. According to this law the Austrian Minister of Finance is empowered to take recapitalisation steps for financial market participants in order to prevent the Austrian economy from severe disruptions and to ensure its balanced development. Furthermore, he is authorised to establish resolution entities – such as HETA Asset Resolution AG, which was created to serve for the resolution of Hypo Alpe-Adria-Bank International AG.