Austria: Publication of Financial Sector Assessment Program Documentation—Detailed Assessment of Basel Core Principles for Effective Banking Supervision
IMF Staff Country Reports, January 21, 2014
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- Austria: Publication of Financial Sector Assessment Program Documentation—Detailed Assessment of Basel Core Principles for Effective Banking Supervision
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Bibliographic details
- Published: January 21, 2014
- Series: IMF Staff Country Reports
Executive summary and context
- This paper discusses key findings of the Detailed Assessment of Basel Core Principles for Effective Banking Supervision on Austria.
- Since the outbreak of the financial crisis, some Austrian credit institutions had to be nationalized as an ad hoc measure to prevent contagion effects and to preserve financial stability.
- Bank capital ratios are improving but still lag behind other internationally active banks.
- Bank profits have been affected by low net interest income and risk provisioning reflecting higher nonperforming loans ratios.
- Austrian banks’ funding structure is relatively stable, and financing conditions have improved since the peak of the crisis.
Major findings
- Nationalization: Some Austrian credit institutions were nationalized as ad hoc measures to prevent contagion effects and to preserve financial stability.
- Capital adequacy: Bank capital ratios are improving but still lag behind other internationally active banks.
- Profitability pressures:
- Low net interest income has reduced bank profits.
- Increased risk provisioning reflecting higher nonperforming loans ratios has weighed on profitability.
- Funding and financing:
- Austrian banks’ funding structure is relatively stable.
- Financing conditions have improved since the peak of the crisis.
Subject areas and keywords
- Subject areas covered:
- Auditing
- Banking
- Credit risk
- Financial regulation and supervision
- Financial statements
- Internal audit
- Legal support in revenue administration
- Market risk
- Public financial management (PFM)
- Revenue administration
- Keywords:
- Auditing, bank auditor, central bank, CR, Credit risk, economic risk, Global, holding company, interest rate, internal audit, Internal audit, ISCR, Legal support in revenue administration, line of business, Market risk, risk management, senior management