Austria bank levy reform set to include 1 bln eur bill for lenders-sources

July 11, 2016 7:20 AM

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VIENNA, July 11 Austria's government is set to announce its bank levy reform on Tuesday, which will likely include a collective 1 billion euro ($1.1 billion) one-off bill to lenders in exchange for deducting Europe-wide dues from the national bank tax, sources said.

Two sources close to the negotiations, which are ongoing, said on Monday it was not yet clear how the roughly 1 billion euros, which represent around two years' worth of Austria's bank tax, would be staggered, if at all.

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