Austrian Central Bank joins BUBA in rejecting collateral bonds guaranteed by EU states receiving aid from the EU and IMF

By: Joe Brown

Spokesman for the Austrian central bank said: "we will do that as well , we are talking about minimal amounts. It will have little impact on overall collateral" the ECB on March 23  said members are no longer obliged to accept bank bonds guaranteed by governments  whose credit assessments do not complky with the benchmark for mimimum requirements of high credit standards This leaves Greece , Portugal and Ireland unable to use such bonds to get funding from subsidiaries in Germany and Austria.