Austria: Financial System Stability Assessment: Update
IMF Staff Country Reports, June 18, 2008
Source details
- Canonical URL
- Austria: Financial System Stability Assessment: Update
Other formats
Bibliographic details
- Published: June 18, 2008
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451802429.002
Executive summary and main findings
- The Austrian authorities have been making great efforts since 2003 to enhance the quality of banking supervision and keep up-to-date with banking sector developments.
- Banks face a reputation risk arising from exposure to money laundering/financing of terrorism risk in both domestic and international activities.
- The authorities have already elaborated contingency plans for dealing with bank failures and other problem cases.
- Experience elsewhere suggests also that it can be valuable to set up a system that mandates a decision on required remedial action promptly after warning signs are detected.
Policy recommendations and supervisory considerations
- Continue enhancing banking supervision quality and monitoring developments in the banking sector.
- Strengthen measures to mitigate reputation risk related to money laundering/financing of terrorism in both domestic and international banking activities.
- Maintain and refine contingency plans for dealing with bank failures and other problem cases.
- Consider establishing a system that mandates prompt decisions on required remedial action after warning signs are detected.
Subject focus and analytical scope
- Subjects covered: Banking, Commercial banks, Financial institutions, Financial regulation and supervision, Financial sector policy and analysis, Income, Insurance companies, Loans, National accounts, Stress testing
- Keywords: bank consolidation process, CDS spread, CR, credit risk, foreign currency, Global, Income, Insurance companies, intervened bank to a sound bank, ISCR, Loans, mortgage bank, return on equity, Sharpe ratio, soundness indicator, stock performance, Stress testing
Content in this bundle
- Austria: Financial System Stability Assessment—Update; IMF Country Report 08/190; May 22, 2008