Austrian banks are able withstand significant defaults in the home and eastern-European portfolios, the country's central bank said on Monday.
Andreas Ittner, the executive director for financial stability and prudential supervision, said that the country's banks had passed a stress test in which defaults for Austrian loans were set at 10% and eastern-European loans at 20%, and recession was set to last until the end of 2010.
Austrian banks are highly exposed to central, eastern and south-easter
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