{
  "title": "Austria: Financial System Stability Assessment: Update",
  "publication": "IMF Staff Country Reports, June 18, 2008",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/austria-financial-system-stability-assessment-update-22068",
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  "summary": "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.",
  "sections": [
    {
      "heading": "Executive summary and main findings",
      "content": "- 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.\n- Banks face a reputation risk arising from exposure to money laundering/financing of terrorism risk in both domestic and international activities.\n- The authorities have already elaborated contingency plans for dealing with bank failures and other problem cases.\n- 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."
    },
    {
      "heading": "Policy recommendations and supervisory considerations",
      "content": "- Continue enhancing banking supervision quality and monitoring developments in the banking sector.\n- Strengthen measures to mitigate reputation risk related to money laundering/financing of terrorism in both domestic and international banking activities.\n- Maintain and refine contingency plans for dealing with bank failures and other problem cases.\n- Consider establishing a system that mandates prompt decisions on required remedial action after warning signs are detected."
    },
    {
      "heading": "Subject focus and analytical scope",
      "content": "- Subjects covered: Banking, Commercial banks, Financial institutions, Financial regulation and supervision, Financial sector policy and analysis, Income, Insurance companies, Loans, National accounts, Stress testing\n- 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\n\n---\n\n Content in this bundle\n\n- Austria: Financial System Stability Assessment—Update; IMF Country Report 08/190; May 22, 2008\n  - Austria: Financial System Stability Assessment—Update; IMF Country Report 08/190; May 22, 2008 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Austria: Financial System Stability Assessment—Update; IMF Country Report 08/190; May 22, 2008 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: June 18, 2008",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451802429.002",
    "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.",
    "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.",
    "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",
    "**Austria: Financial System Stability Assessment—Update; IMF Country Report 08/190; May 22, 2008**"
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