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

January 21, 2014

Preview Citation

Format: Chicago

Austria: Publication of Financial Sector Assessment Program Documentation—Technical Note on Crisis Preparedness and Management Framework, (USA: International Monetary Fund, 2014) accessed November 23, 2024

Summary

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.

Subject: Bank resolution, Bank resolution framework, Banking, Deposit insurance, Financial crises, Financial sector policy and analysis, Financial sector stability, Lender of last resort, Macroprudential policy

Keywords: Bank resolution, Bank resolution framework, CR, Enforcement power, Financial crisis, Financial sector stability, Financial support, Global, Government guarantee, ISCR, Lender of last resort, Macroprudential policy, Problem bank, Resolution authorities, Resolution framework

Publication Details

Pages:

48
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2014/015
Stock No:

1AUTEA2014003
ISBN:

9781484376348
ISSN:

1934-7685

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