Land Lower Austria sold residential loans with a 22 percent discount

For more than 20 years, the state of Lower Austria has been using a questionable method for many observers to lift income for the state budget: it sells the demands from the state of residential building loans awarded by the state. In the course of history, it was sometimes a better, sometimes worse business. Almost exactly three years ago, just in the low interest rate phase, for example, 419 million euros were taken for a claim package of only 400 million euros. 103.4 percent of the nominal could be sold.