Wednesday January 14 2015

News Source: Global Exchanges

Focus: Trading Systems and Technology

Type: General




On 1st January 2015 the Austrian Financial Market Authority (FMA) became the national resolution authority by virtue of the Federal Act on the Recovery and Resolution of Banks (BaSAG; Bundesgesetz über die Sanierung und Abwicklung von Banken). This represents a step toward the European Banking Union.

The role of the FMA as national resolution authority includes:

  • selling the institution
  • setting up a bridge bank
  • spinning off assets
  • bailing in creditors (i.e. The national resolution authority can avail of its institutional allowance to cover loss.)

Click on the above link for further details.