## Austria: Publication of Financial Sector Assessment Program Documentation-Technical Note on Macroprudential Policy Framework and Tools

_IMF Staff Country Reports, March 2, 2020_

## Source details

**Canonical URL:** [Austria: Publication of Financial Sector Assessment Program Documentation-Technical Note on Macroprudential Policy Framework and Tools](https://www.imf.org/en/publications/cr/issues/2020/03/03/austria-publication-of-financial-sector-assessment-program-documentation-technical-note-on-49237)

## Other formats

- [Markdown version](/en/publications/cr/issues/2020/03/03/austria-publication-of-financial-sector-assessment-program-documentation-technical-note-on-49237/index.md)
- [Structured JSON version](/en/publications/cr/issues/2020/03/03/austria-publication-of-financial-sector-assessment-program-documentation-technical-note-on-49237/index.json)
- [Bundle manifest](/en/publications/cr/issues/2020/03/03/austria-publication-of-financial-sector-assessment-program-documentation-technical-note-on-49237/bundle-manifest.json)

## Bibliographic details
- Published: March 2, 2020
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513535814.002

---

### Summary assessment
- The technical note assesses strengths and weaknesses of the macroprudential policy framework in Austria and provides policy recommendations.
- Financial sector resilience in Austria has improved significantly since the global financial crisis.
- The macroprudential policy framework has been formalized.
- The institutional framework is appropriate for conducting macroprudential policy effectively, but it could be strengthened in some areas.
- Some structural vulnerabilities to financial stability remain and cyclical risks are on the rise.

### Key findings on banks and regional exposure
- Banks’ low efficiency and the resulting low profitability of domestic operations continues to be a key concern.
- The Central Europe and South Eastern Europe region accounts for over 40 percent of Austrian banks' consolidated profits.
- Broad-based vulnerabilities remain contained, but build-up of risks in the real estate sector warrants further action.

### Institutional framework and powers
- The framework contains a clear mandate, well-defined objectives, and provides enough powers to the Financial Market Stability Board (FMSB).
- The framework for addressing structural vulnerabilities is sophisticated; however, further improvements could be considered.
- The institutional framework could be strengthened in some areas to improve macroprudential policy effectiveness.

### Subjects and thematic coverage
- Banking; Financial institutions; Financial sector policy and analysis; Financial sector risk; Financial sector stability; Housing prices; Loans; Macroprudential policy; Prices.

---

## Content in this bundle

- **1autea2020004 - Executive Summary**
  - [1autea2020004 - Executive Summary (Markdown version)](/-/media/files/publications/cr/2020/english/1autea2020004.pdf.md){rel="alternate" type="text/markdown"}
  - [1autea2020004 - Executive Summary (PDF)](/-/media/files/publications/cr/2020/english/1autea2020004.pdf){rel="external" type="application/pdf"}

---

_Source: https://www.imf.org/en/publications/cr/issues/2020/03/03/austria-publication-of-financial-sector-assessment-program-documentation-technical-note-on-49237_