Today on The Janssen Report (#94): the first bank bail-in of 2015 may have arrived! In Austria of all places (considered a very stable economy!), the HETA Asset Resolution AG turns out to have a capital shortfall of more than 7 billion euros. HETA is in fact the entity that was supposed to wind down the assets of the failed Hypo Bank. This process already cost the Austrian tax payer 5.5 billion euros, on a population of slightly under 8.5 million!

According to Bloomberg:
“Austria’s decision to cut funding to the vehicle that’s winding down assets of the failed Hypo Alpe-Adria-Bank International AG is the first test of the European Union’s Bank Recovery and Resolution Directive, which takes full effect across the bloc next year. The rules, which Austria implemented earlier than most EU member states, give regulators the power to impose losses on both shareholders and creditors in the event of a bank collapse”.

As I explained on November 17, 2014, the G20 decided to implement a bail-in policy across the board (The Janssen Report #86).

Watch this episode of The Janssen Report here:

Folks, money confiscation might be coming to a bank near you, sooner than you think. Educate yourself, act and become self-reliant.

Sources:

• http://orf.at/stories/2267206/2267207/ (in German)
• Your Bank Deposits Are No Longer Considered Money: New G20 Bail In Policy
• http://www.bloomberg.com/news/articles/2015-03-01/austria-on-track-to-bail-in-heta-creditors-after-aid-stop
• http://www.bloomberg.com/news/articles/2015-03-02/heta-senior-bonds-plunge-after-austria-cuts-off-aid-to-bad-bank
• http://www.reuters.com/article/2015/03/01/austria-heta-idUSL5N0W30OR20150301
• http://www.zerohedge.com/news/2015-03-01/spectacular-developments-austria-bail-arrives-after-%E2%82%AC76-billion-bad-bank-capital-hol
• http://www.zerohedge.com/news/2015-03-02/lehman-moment-austrian-bad-bank-means-worse-coming

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Cheers!

Marco Janssen