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In line with the Austrian Financial Stability Act (promulgated in Federal Law Gazette I No. 136 of October 26, 2008), the Austrian government has established FIMBAG Finanzmarktbeteiligung Aktiengesellschaft des Bundes to implement the measures it takes to recapitalize credit institutions as defined in the Austrian Banking Act and domestic insurance companies. FIMBAG was incorporated on November 11, 2008, and is wholly owned by the Austrian state holding company ÖIAG.
The key tasks of FIMBAG comprise managing the equity capital provided by, or shares acquired by, the Federal Republic of Austria and subsequently transferred to FIMBAG; monitoring compliance with the requirements defined for the respective capital measures; and ensuring the orderly disinvestment of the government's shares in due time.
Management Board: Klaus Liebscher, Adolf Wala
Supervisory Board: Veit Sorger (Chairman), Hannes Androsch (Deputy Chairman), Hans-Peter Weiss, Herbert Kaufmann, Alexander Russ, Hellwig Torggler |
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