European Parliament Library

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 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
Table Of Contents
Cover; CONTENTS; Glossary; EXECUTIVE SUMMARY; INTRODUCTION; MACROPRUDENTIAL POLICY; A. Introduction; B. Framework in Austria; C. Recommendations; BOXES; 1. Supervisory Guidance in Strengthening the Sustainability of the Business Models of Large Internationally Active Austrian Banks; EARLY INTERVENTION AND ORDERLY BANK RESOLUTION; A. Introduction; B. Framework in Austria; 2. EU Developments on Early Intervention and Bank Resolution; C. Recommendations; 3. Legal Protection of Supervisors; DEPOSIT INSURANCE; 4. Deposit Guarantee Schemes; A. Recommendations; OENB LIQUIDITY SUPPORT
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (49 p.)
Specific Material Designation
Form Of Item

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