Brussels, 02/07/2015 (Agence Europe) - On 2 July, the European Commission approved the amended restructuring plan of the Austrian bank Österreichische Volksbanken AG (ÖVAG) and of Volksbanken-Verbund (Verbund, association of co-operative banks).
The banking sector health check carried out by the ECB in 2014 showed a deficit of own funds in the order of €865 million for the cooperative banking sector. In June of this year, Austria notified the Commission of the amendments made to the...