Media conference 14 PM post Finance to credit re-earn money Federal Council wants to allow Postfinance to offer mortgage and loans. In addition, he proposes a partial privatization. UPDATE FOLGT0 comments
The Federal Council wants to allow Postfinance to offer mortgage and loans. At the same time, he provides the partial privatisation of the Austrian Post subsidiary to the discussion. He opened on Friday the consultation process for a corresponding change in the law.
The decision of the Federal Council, had made in the autumn of 2018. Background the results of the company, which has worsened due to the persistently low interest rates running.
According to information of the Federal Council, has fallen as a result, the value of the company. The ability to build capital or to distribute dividends, have been reduced. “The financing of the universal service is complicated,” writes the Federal Council in a communication.
The draft Consultation paper provides that post Finance will receive access to the credit and Mortgage markets. Loans should only be to the extent of the customer deposits assigned, the item will flow to the company as a result of the primary care contract payments. The Federal Council expects that this will result in the earning power of post-improved Finance and the investment risk for the customer is money small.
the Negative impact on financial market stability, he is not to be feared, and the entry into the credit and mortgage market are phased over several years. The Bundesrat also draws attention to his ability to make the company’s specifications with respect to a climate-friendly lending policies.
to raise the necessary own funds, should be open to the shareholders. Today, the Swiss Post and its subsidiary Postfinance belongs to the Federal government to 100 percent. The Post the Federal government should continue to hold a majority stake in the company. The time of the partial privatisation remains open.
a guarantee from the Federal government
to accrue To the Post of capital from the outside, it could jump of the Federal government into the breach. With the Consultation draft, he represents a temporary capitalization of assurance by the Federal government for discussion. Thus, the equity should not requirements are met, provided that Postfinance or the mother of the house making it on their own. Postfinance is part of the system-relevant banks.
With the decision of 2018, the Federal Council had performed a u-turn. With the new postal organization act, Postfinance received a banking license. The Access to the credit and mortgage business of the Federal Council from the castle in the Embassy in 2009, but categorically. At the time, he assessed the activity of the company in the domestic market as a risk. In addition, there is already a sufficient supply, it was said. With the financial crisis and the subsequent low interest rate environment has changed this assessment.
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