Austria: Publication of Financial Sector Assessment Program Documentation-Technical Note on Banking Oversight

March 2, 2020

Preview Citation

Format: Chicago

Austria: Publication of Financial Sector Assessment Program Documentation-Technical Note on Banking Oversight, (USA: International Monetary Fund, 2020) accessed October 13, 2024

Summary

This paper on Austria includes a targeted review of banking regulation and supervision, with a focus on topics related to the supervision of less significant institutions. The national transposition and implementation of EU directives and regulations has significantly closed some of the gaps identified in 2013. Oversight of bank loan portfolios was strengthened by guidance from the European Central Bank and European Banking Authority (EBA) concerning nonperforming loans and forborne exposures, and by EU regulation. As noted in the previous Basel Core Principles assessment, the Austrian Banking Act (BWG) and regulations do not establish an adequate framework for monitoring and addressing transactions with related parties; and the BWG does not require ex-ante approval for acquiring qualifying holdings in undertakings outside the financial sector. Although the BWG amendments strengthened the duties and responsibilities of credit institutions’ supervisory boards, operationally the role may be made more robust by increasing interaction between the supervisory board and banking supervisors.

Subject: Bank supervision, Banking, Commercial banks, Credit, Credit risk, External balance assessment (EBA), External position, Financial institutions, Financial regulation and supervision, Financial Sector Assessment Program, Financial sector policy and analysis, Money, Nonperforming loans

Keywords: Bank, Bank supervision, CR, Credit, Credit risk, Eastern Europe, External balance assessment (EBA), Financial Sector Assessment Program, FMA governance, FMA issues circular, FMA place, FMA power, FMA regulation, FMA's view, Global, ISCR, Nonperforming loans, OeNB

Publication Details

Pages:

20
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2020/067
Stock No:

1AUTEA2020007
ISBN:

9781513535869
ISSN:

1934-7685

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