{
  "title": "Austria: Publication of Financial Sector Assessment Program Documentation-Technical Note on Bank Resolution and Crisis Management",
  "publication": "IMF Staff Country Reports, March 2, 2020",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2020/03/03/austria-publication-of-financial-sector-assessment-program-documentation-technical-note-on-49235",
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  "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.",
  "sections": [
    {
      "heading": "Scope and focus",
      "content": "- Focuses on bank resolution and crisis management in Austria.\n- Scope includes:\n  - Institutional arrangements for recovery, resolution, and crisis management.\n  - Supervision of banks’ recovery plans.\n  - Legal regime for bank bankruptcy and resolution.\n  - Resolution planning by the authorities and addressing impediments to resolution.\n  - Assuring funding to support resolution.\n  - The two deposit guarantee schemes.\n  - Government authorities’ collective preparedness to deal with financial crisis."
    },
    {
      "heading": "Key findings",
      "content": "- Recovery and resolution planning are well advanced.\n- Key impediments to resolution have been identified and are being addressed.\n- Adequate means to ensure enough funding in resolution remains to be determined.\n- The legal framework is sound, although additional flexibility could be provided in the bankruptcy regime.\n- The authorities’ collective contingency planning for financial crisis and testing of plans should be intensified."
    },
    {
      "heading": "Subject areas and keywords",
      "content": "- Subject: Bank resolution, Bank resolution framework, Banking, Bridge bank, Contingency planning, Crisis management, Financial crises\n- 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\n\n---\n\n Content in this bundle\n\n- Executive Summary\n  - Executive Summary (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Executive Summary (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
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    "[Markdown version](/en/publications/cr/issues/2020/03/03/austria-publication-of-financial-sector-assessment-program-documentation-technical-note-on-49235/index.md)",
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    "Published: March 2, 2020",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513535791.002",
    "Focuses on bank resolution and crisis management in Austria.",
    "Scope includes:",
    "Recovery and resolution planning are well advanced.",
    "Key impediments to resolution have been identified and are being addressed.",
    "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",
    "**Executive Summary**"
  ],
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