[ckastner]

An additional data point: apparently, AAB (formerly Meinl) was in the process of returning their banking license anyway, as they have had massive compliance issues over the past decade, and just giving up on that part of the business (and instead just focusing on asset management) would be a reasonable thing to do.

I'm somewhat surprised the ECB didn't wait for this to happen. I guess they wanted to send a message, or something.

[thefabs]

Yeah, I remember the same bank was in trouble just a few weeks ago for a different set of compliance failures.