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Hypo says suspended from ECB refinancing facilities
April 4, 2014 / 5:11 PM / 4 years ago

Hypo says suspended from ECB refinancing facilities

VIENNA, April 4 (Reuters) - Austrian nationalised bank Hypo Alpe Adria has been suspended from using European Central Bank’s refinancing facilities until further notice, it said on Friday.

Hypo said its access to Eurosystem monetary policy credit instruments and the ECB’s marginal lending facility had been suspended, and its senior unsecured bonds could not be used as eligible assets for Eurosystem credit operations.

It said it did not currently use any such ECB refinancing facilities and therefore no effects on its liquidity position were to be expected, and that the measures did not affect its subsidiaries outside Austria.

The bank said the reason given by the ECB was a recurring shortfall in regulatory capital, which it had taken steps to remedy by a fresh injection of state aid. (Reporting by Georgina Prodhan. Editing by Jane Merriman)

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