Tuesday, April 12, 2016

Bank Bail Ins Begin As EU Bank 
“Bailed In” In Austria
GoldCore article highlights the bank bailin in Austria .. Creditors in the bank Heta Asset Resolution will receive less than 1/2 of their money back according to the country’s financial regulator .. Senior bondholders in the so called 'bad bank' could expect to receive around €0.46 for each euro which would be paid from the realization of assets by 2020 - Bond maturities, however, will be extended to 31 December 2023 as "all currently outstanding legal disputes will realistically only be concluded by the end of 2023". "Only at that point will it be possible to finally distribute the assets and to liquidate the company." .. article: "Heta’s bail-ins pertain to bond holders but it is important to note that recently introduced EU and international bail-in regulation mean that depositors in banks are now exposed to having their deposits bailed in. Bail-ins are one of the greatest financial risks to investors, savers and indeed companies today. Yet they remain the most poorly covered financial risk and are largely ignored by financial advisers, brokers and not surprisingly banks. This is something we warned of when we first conducted our extensive research on the developing bail-in regimes. Diversification of deposits remains vital and one important way to protect against bail-ins is owning bullion. Taking delivery of gold and silver coins and bars or owning bullion in allocated and segregated storage in the safest vaults in the world is a prudent way to protect against bail-ins."
LINK HERE to the article
Access Protecting your Savings In The Coming Bail-In Era (11 pages)
Access From Bail-Outs to Bail-Ins: Risks and Ramifications – (51 pages)

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