Austria's hypo banks commit to paying back some Heta debt

April 7, 2015 3:24 PM

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VIENNA, April 7 (Reuters) - Austria's regional mortgage banks have committed to paying back debt that 'bad bank' Heta Asset Resolution raised via a borrowing facility they share, officials said on Tuesday.

Most but not all of the eight regional "hypo" banks are owned by the provinces where they are based. The banks and their owners jointly guarantee debt raised via the so-called Pfandbriefstelle.

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