Austria: Publication of Financial Sector Assessment Program Documentation—Technical Note on Crisis Preparedness and Management Framework

Publication Date: January 21, 2014
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Summary: This Technical Note analyzes crisis preparedness and management framework in Austria. The global crisis revealed weaknesses in Austria’s financial stability policy framework. Austria needs to put in place a special bank resolution regime to resolve problem banks in a manner that does not endanger financial stability or fiscal sustainability. Although the authorities prefer to await the formal adoption of the European Union (EU) Directive on bank recovery and resolution, it would be in Austria’s interest to swiftly introduce a full-fledged bank resolution framework, with a wide range of tools and powers, and strengthened resolution arrangements with non-EU countries.
Series: Country Report No. 14/15
Subject(s): Financial Sector Assessment Program | Financial stability | Macroprudential Policy | Deposit insurance | Bank resolution | Bank supervision | Liquidity management | Financial safety nets | Crisis prevention | Risk management | Austria

Publication Date: January 21, 2014
ISBN/ISSN: 9781484376348/1934-7685 Format: Paper
Stock No: 1AUTEA2014003 Pages: 48
US$18.00 (Academic Rate:
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