Austria Publication of Financial Sector Assessment Program Documentation-Technical Note on Banking Oversight

This paper on Austria includes a targeted review of banking regulation and supervision, with a focus on topics related to the supervision of less significant institutions. The national transposition and implementation of EU directives and regulations has significantly closed some of the gaps identif...

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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 2020
Series:IMF Staff Country Reports
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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245 0 0 |a Austria  |b Publication of Financial Sector Assessment Program Documentation-Technical Note on Banking Oversight 
260 |a Washington, D.C.  |b International Monetary Fund  |c 2020 
300 |a 20 pages 
651 4 |a Austria 
653 |a Finance 
653 |a General Financial Markets: Government Policy and Regulation 
653 |a International economics 
653 |a Credit 
653 |a Capital and Ownership Structure 
653 |a State supervision 
653 |a Depository Institutions 
653 |a Money and Monetary Policy 
653 |a Financial regulation and supervision 
653 |a Banking 
653 |a Banks and Banking 
653 |a Financial Institutions and Services: Government Policy and Regulation 
653 |a Nonperforming loans 
653 |a Financial services industry 
653 |a Banks and banking 
653 |a Loans 
653 |a Financial Risk and Risk Management 
653 |a Credit risk 
653 |a Mortgages 
653 |a Value of Firms 
653 |a Commercial banks 
653 |a Financial institutions 
653 |a Financial Sector Assessment Program 
653 |a External balance assessment (EBA) 
653 |a Banks 
653 |a Exports and Imports 
653 |a Micro Finance Institutions 
653 |a International Investment 
653 |a Monetary Policy, Central Banking, and the Supply of Money and Credit: General 
653 |a Financial services law & regulation 
653 |a Industries: Financial Services 
653 |a Monetary economics 
653 |a Financial sector policy and analysis 
653 |a Finance: General 
653 |a Money 
653 |a Bank supervision 
653 |a International finance 
653 |a Goodwill 
653 |a Financing Policy 
653 |a Financial risk management 
653 |a Long-term Capital Movements 
653 |a External position 
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520 |a This paper on Austria includes a targeted review of banking regulation and supervision, with a focus on topics related to the supervision of less significant institutions. The national transposition and implementation of EU directives and regulations has significantly closed some of the gaps identified in 2013. Oversight of bank loan portfolios was strengthened by guidance from the European Central Bank and European Banking Authority (EBA) concerning nonperforming loans and forborne exposures, and by EU regulation. As noted in the previous Basel Core Principles assessment, the Austrian Banking Act (BWG) and regulations do not establish an adequate framework for monitoring and addressing transactions with related parties; and the BWG does not require ex-ante approval for acquiring qualifying holdings in undertakings outside the financial sector. Although the BWG amendments strengthened the duties and responsibilities of credit institutions' supervisory boards, operationally the role may be made more robust by increasing interaction between the supervisory board and banking supervisors