Large Austrian banks also have branches, subsidiaries, and joint venture operations in Central and Eastern Europe. Many major foreign banks, including American, have operations in Austria. B. Foreign Exchange Controls Affecting Trading Austria has a fully liberalized foreign exchange regime. There are no limitations on cross-border payments, whether related to foreign trade, capital investments, or other transactions, except to countries under UN sanctions. C. General Financing Ability General financing to establish foreign operations in Austria is readily available.
Foreign firms enjoy access to Austrian credit and capital markets without restrictions.
Thus, U.S. investors will not be faced with schilling exchange rate risks against the currencies of the other ten EMU participants during the transition to the Euro in 2002. Austrian banks can also help arrange financing for export and investment transactions in Central and Eastern Europe. The Austrian Government has neither a countertrade policy nor specific regulations in this field. E. Types of Available Export Financing and Insurance OPIC does not operate in Austria, although it has a cooperation agreement with the Austrian Finance Guarantee Company to insure investments in Central and Eastern Europe. The Ex-Im Bank has no active programs in Austria.