Austria: Publication of Financial Sector Assessment Program Documentation-Technical Note on Bank Resolution and Crisis Management

March 2, 2020

Preview Citation

Format: Chicago

Austria: Publication of Financial Sector Assessment Program Documentation-Technical Note on Bank Resolution and Crisis Management, (USA: International Monetary Fund, 2020) accessed October 11, 2024

Summary

This technical note on Austria focuses on bank resolution and crisis management. This note assesses and makes recommendations regarding bank resolution and crisis management arrangements. The scope of the assessment includes the institutional arrangements for recovery, resolution, and crisis management; the supervision of banks’ recovery plans; the legal regime for bank bankruptcy and resolution; resolution planning by the authorities and addressing impediments to resolution; assuring funding to support resolution; the two deposit guarantee schemes; and the government authorities’ collective preparedness to deal with financial crisis. Recovery and resolution planning are well advanced. Key impediments to resolution have been identified and are being addressed, yet adequate means to ensure enough funding in resolution remains to be determined. The legal framework is sound, although additional flexibility could be provided in the bankruptcy regime. The authorities’ collective contingency planning for financial crisis and testing of plans should be intensified.

Subject: Bank resolution, Bank resolution framework, Banking, Bridge bank, Contingency planning, Crisis management, Financial crises

Keywords: Bank resolution, Bank resolution framework, Bankruptcy regime, Bridge bank, Collective preparedness, Contingency planning, CR, Crisis management, FMA staff, Global, Government stabilization measure, Government stabilization tool, Government support arrangement, ISCR, Lead bank, Resolution plan, Savings bank, Stabilization measure

Publication Details

Pages:

42
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2020/062
Stock No:

1AUTEA2020002
ISBN:

9781513535791
ISSN:

1934-7685

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