Austria Publication of Financial Sector Assessment Program Documentation—Technical Note on Crisis Preparedness and Management Framework

This Technical Note analyzes crisis preparedness and management framework in Austria. The global crisis revealed weaknesses in Austria’s financial stability policy framework. Austria needs to put in place a special bank resolution regime to resolve problem banks in a manner that does not endanger fi...

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Bibliographic Details
Corporate Author: International Monetary Fund Monetary and Capital Markets Department
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2014
Series:IMF Staff Country Reports
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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260 |a Washington, D.C.  |b International Monetary Fund  |c 2014 
300 |a 48 pages 
651 4 |a Austria 
653 |a Economic policy 
653 |a Economic & financial crises & disasters 
653 |a Depository Institutions 
653 |a Banks 
653 |a Finance 
653 |a Bank resolution framework 
653 |a Financial crises 
653 |a Lender of last resort 
653 |a Banks and banking 
653 |a Financial sector stability 
653 |a Financial sector policy and analysis 
653 |a Bank resolution 
653 |a General Financial Markets: Government Policy and Regulation 
653 |a Micro Finance Institutions 
653 |a Deposit insurance 
653 |a Crisis management 
653 |a Financial Institutions and Services: Government Policy and Regulation 
653 |a Mortgages 
653 |a Banks and banking, Central 
653 |a Banks and Banking 
653 |a Financial Markets and the Macroeconomy 
653 |a Financial services industry 
653 |a Macroeconomics 
653 |a Banking 
653 |a Macroprudential policy 
653 |a Financial Risk Management 
653 |a Finance: General 
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520 |a This Technical Note analyzes crisis preparedness and management framework in Austria. The global crisis revealed weaknesses in Austria’s financial stability policy framework. Austria needs to put in place a special bank resolution regime to resolve problem banks in a manner that does not endanger financial stability or fiscal sustainability. Although the authorities prefer to await the formal adoption of the European Union (EU) Directive on bank recovery and resolution, it would be in Austria’s interest to swiftly introduce a full-fledged bank resolution framework, with a wide range of tools and powers, and strengthened resolution arrangements with non-EU countries