FMA now draws its own line under Euram Bank

The Financial Market Authority (FMA) has banned the European American Investment Bank (Euram) from continuing its business operations with immediate effect. The bank will therefore be subject to deposit protection, as the authority announced in a press release on Wednesday - in this specific case, this covers 37.6 million euros. It justified the step with inadequate plans for self-winding, which the bank had presented after an extraordinary gene…

Although the Viennese private bank decided on Tuesday afternoon to dissolve itself voluntarily, the supervisory authority is now ending Euram's banking business. The self-winding was not presented in a "plausible" manner.

The Financial Market Authority (FMA) has banned the European American Investment Bank (Euram) from continuing its business operations with immediate effect. The bank is therefore a case for deposit protection. The authority announced this in a press release on Wednesday. The reason for this decision is the bank's inadequate plans for the planned self-winding. According to the Deposit Protection Agency (ESA), 37.6 million euros of a total of 276.…

The Financial Market Authority (FMA) has banned the European American Investment Bank (Euram) from continuing its business operations with immediate effect. The bank will therefore be subject to deposit protection, the authority announced in a press release on Wednesday. It justified the move with inadequate plans for the planned self-winding. According to the Deposit Protection Agency (ESA), 37.6 million of a total of 276.3 million euros in dep…