During that of the former ÖVP-FPÖ government
the planned reform of banking supervision has been put on hold
Financial Market Authority (FMA) and the Austrian National Bank
(OeNB) fixed priorities for 2020. These are in
Connection with the supervisory focus of the uniform
Single Supervisory Mechanism (SSM)
OeNB and FMA on Friday with.
The definition of common supervisory priorities is one
Measure that the two institutions will take in the current year
Optimization of their collaboration.
This is how IT risks associated with digitization are reduced
so-called on-site inspections by the banking supervisory authority, for the FMA and
OeNB are jointly responsible, looked closely. Because the new
technical possibilities also lead to new business models,
these business model adjustments are evaluated and in the
Bank screening process interwoven.
In the coming year, the OeNB and FMA will also be looking into the tooth
Governance of credit institutions. So internal controls like
Internal audit and compliance under the Banking Act strengthened
become. “In addition, there will be a focus on data governance,
Data quality and consistency in data aggregation “, said the
two banking supervisors on Friday in their joint communication.
In order to strengthen the crisis resistance of Austrian banks,
FMA and OeNB will continue to reduce the needy
Monitor loans and support reduction strategies. through
Stress tests will also be carried out in 2020 as well as the resilience
Appropriateness of the capital resources of Austrian banks
checked.
(Conclusion) phs / kan
WEB http://www.fma.gv.at
http://www.oenb.at/
http://www.ecb.int
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