Austria: Financial Sector Assessment Program Update Technical Note: Factual Update and Analysis of the Basel Core Principles for Effective Banking Supervision
July 2, 2008
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This technical note highlights the financial sector assessment program update of Austria with factual update for effective banking supervision. Financial sector regulation and supervision should be conducted in the general public interest. Although authorities have acted effectively in recent cases of major problems, it is recommended that, within the legal framework in place, a set of practical provisions and procedures be elaborated for an orderly exit in case of failures and other stress situations.
Subject: Banking, Basel Core Principles, External audit, Financial regulation and supervision, Internal audit, Legal support in revenue administration, Operational risk, Public financial management (PFM), Revenue administration
Keywords: auditor, authority, Basel Core Principles, conglomerates directive, CR, External audit, firm, FMA staff, FMA's power, Global, government Court of Accounts, ISCR, Legal support in revenue administration, OeNB counterpart, Operational risk, Southern Europe, supervision
Pages:
19
Volume:
2008
DOI:
Issue:
205
Series:
Country Report No. 2008/205
Stock No:
1AUTEA2008005
ISBN:
9781451802443
ISSN:
1934-7685
