UPDATE 1-Austrian bank Hypo needs another $2 bln emergency aid

Fri Mar 21, 2014 10:14am EDT

* Hypo Alpe Adria says needs 1.43 bln euros

* Says that sum would cover capital needs through September

* Needs money to maintain minimum regulatory capital levels

* Finance ministry says decision to be made in coming weeks (Adds company comment, finance minister comment, background)

FRANKFURT/VIENNA, March 21 (Reuters) - Nationalised Austrian lender Hypo Alpe Adria Bank International AG asked the government on Friday for another 1.43 billion euros ($2 billion) in emergency funds to cover its capital needs through September.

The bank earlier this month signalled the need for an unspecified amount of money to cope with writedowns and maintain minimum capital levels required by regulators until it transfers billions of euros worth of assets to a "bad bank" later this year.

The new request takes to around 6.2 billion euros the total aid the bank will have asked for or received since the financial crisis. The bank has received 4.8 billion euros in state aid since the crisis started in 2008.

"We informed the federal ministry about this calculation and asked for more intensive talks about ways to comply with regulatory capital rules," Chief Executive Alexander Picker said in a statement on Friday.

Austria nationalised Hypo in 2009 to avoid a failure that would have sent shockwaves across the region, and it finally ruled out the possibility of letting it go bust this month.

Instead, the government will wind down the bank via a "bad bank" that will take on 18 billion euros of Hypo assets, but it will take months until the wind-down facility is set up.

Earlier this month, Austria approved a capital injection for Hypo.

The finance ministry said on Friday a final decision on whether and how Hypo would receive financial support would be made in the coming weeks.

"Fresh money will only be paid once there is complete clarity on how it will be used," Finance Minister Michael Spindelegger said in a statement.

($1 = 0.7255 euros) (Reporting by Maria Sheahan and Angelika Gruber; Editing by Thomas Atkins and Erica Billingham)

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