March 12, 2014 / 8:27 AM / 3 years ago

Austria authorises quick capital shot for Hypo

VIENNA, March 12 (Reuters) - The Austrian government has approved a quick capital injection for ailing state lender Hypo Alpe Adria, Finance Minister Michael Spindelegger said on Wednesday, adding he did not know exactly how much the bank needed.

"Auditors have sent a warning letter. We need fresh capital for Hypo and relatively quickly. We have provided for this and got cabinet authorisation for it," he told reporters after a cabinet meeting.

Hypo Alpe Adria, which has already got 4.8 billion euros ($6.66 billion) in state aid, said on Monday it may need more help quickly to close out its 2013 accounts and meet minimum capital standards, creating another headache for the government.

$1 = 0.7212 Euros Reporting by Angelika Gruber, Editing by Michael Shields

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