Recent Developments in the Austrian Banking System's Liquidity Situation and the International Regulatory Debate
Given the tense situation in international money markets, the Austrian Financial Market Authority (FMA) and the Oesterreichische Nationalbank (OeNB) stepped up their liquidity monitoring in October 2008, requiring banks to submit reports on their liquidity situation on a weekly basis. Article 70 para 1 no 1 Federal Banking Act (BWG) provides the legal basis for this requirement, giving the FMA the right to request at any time for the purpose of monitoring credit institutions to present reports in specified form and layout. The new liquidity report is a supervisory and not a regulatory instrument and is without prejudice to the qualitative and quantitative requirements as well as the reporting requirements of Article 25 Federal Banking Act. The regulatory initiatives at the international level are discussed in the second chapter of this article.
Volume (Year): (2009)
Issue (Month): 18 ()
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