Determination Of Flow-Weighted Average Return For Bunds (Udrbg), As Well As Change Of The National Bank Act 1984, 2010 Sanction Act And The Currency Act Of 2004

Original Language Title: Ermittlung der Umlaufgewichteten Durchschnittsrendite für Bundesanleihen (UDRBG) sowie Änderung des Nationalbankgesetzes 1984, des Sanktionengesetzes 2010 und des Devisengesetzes 2004

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4. Federal Law, which enacted a federal law concerning the determination of the weighted average yield on federal bonds (UDRBG) and the National Bank Act 1984, the Sanctions Act 2010 and the Foreign Exchange Act 2004 are amended

The National Council has decided:

Article 1

Federal Law on the Determination of the Circulatory Weighted Average Yield for Federal Bonds (UDRBG)

Replacement of the SMR federal government by the UDRB in federal laws and regulations

§ 1. To the extent that the Federal Government (SMR) secondary market return is used in this or another designation as a reference value in federal laws or regulations, the circulatory weighted average yield shall be replaced by 1 April 2015. Federal bonds (UDRB).

Replacement of the SMR-Federation by the UDRB in private-law agreements

§ 2. (1) In private-law agreements that refer to the SMR-Bund in this or another designation, the UDRB shall be replaced by 1 April 2015 at the place of the SMR.

(2) For agreements concluded before 1 April 2015, the UDRB shall apply in the light of a correction value to be determined by regulation by the Oesterreichische Nationalbank (OeNB).

(3) The OeNB has to adopt the Regulation setting the correction value at the latest with the first publication of the UDRB. The regulation is published in the Federal Law Gazan and published on the website of the OeNB.

(4) The sections 1 and 2 shall not apply if the Contracting Parties have agreed or agree to the removal of the SMR-Bund by way of derogation.

Calculation and publication of the UDRB

§ 3. (1) As of 1 April 2015, the OeNB shall calculate the UDRB for each Austrian bank working day and publish it on its website in retrospect on a weekly basis.

(2) The calculation of the UDRB shall be based on the Euro-Federal bonds issued under Austrian law of the Republic of Austria with a fixed interest rate and a residual maturity of more than one year. The UDRB is to be made up of the average returns of these Federal bonds weighted with the outstanding nominal terms. The average returns to maturity are calculated on the basis of the average prices weighted according to the transaction volume. The basis for this is the transaction data obtained by the FMA from its administrative activity.

(3) The FMA has to provide the OeNB with the anonymized transaction data required for the calculation of the UDRB pursuant to paragraph 2 per week. The data on which the calculation is based are not to be published by the OeNB.

(4) If the OeNB is not able to calculate or publish the UDRB in particular due to the non-availability of the data on which the calculation of the UDRB is based, the OeNB directly has the calculation and publication of the UDRB directly after the removal of these factors, or to resume.

(5) The OeNB shall publish on its website the details of the framework conditions referred to in paragraph 2 above, in particular the calculation method of the UDRB and the description of the underlying data.

Use of UDRB

§ 4. If no value is available on a date set in federal laws, regulations or private-law agreements, unless the contracting parties have agreed or agree to any deviating date, the date of the date of this date shall be agreed upon. to use the last available value as an indicator.

Determination of a correction factor for the SMR issuers total, the SMR domestic issuers and the SMR domestic non-banks

§ 5. (1) In addition to the SMR federal government, the provisions of this Federal Act also apply to the issuers of the secondary market, the secondary market return of the domestic issuers and the secondary market return of domestic non-banks under application A specific correction factor is transferred to the UDRB.

(2) The correction factors referred to in paragraph 1 shall be determined in a regulation to be adopted by the OeNB in accordance with § 2 para. 3, in accordance with the issuer groups.

(3) In the case of contracts concluded as of 1.4.2015, the reference value shall be the UDRB itself, or another market-standard indicator, but not one of the secondary market returns derived from the UDRB.

References and Regulations

§ 6. (1) Where reference is made in this Federal Act to other federal laws, if nothing else is arranged, these are to be applied in their respectively applicable version.

(2) Regulations on the basis of this Federal Act may already be issued from the day following the presentation of the federal law to be carried out; however, they may not enter into force before the provisions of the law to be implemented.

Linguistic equality

§ 7. Insofar as personal names are only mentioned in male form in this federal law, they refer to women and men in the same way. The gender-specific form is to be used in the application to certain persons.


§ 8. The Federal Minister of Finance is responsible for the enforcement of this federal law.

entry into force

§ 9. This federal law comes with 1. Jänner 2015 in force.

Article 2

Amendment of the National Bank Act 1984

The National Bank Act 1984-NBG, BGBl. No. 50/1984, as last amended by the Federal Law BGBl. I No 184/2013, shall be amended as follows:

1. § 7 (2) reads:

" (2) Regulations of the Oesterreichische Nationalbank are to be found in the Federal Law Gazans. The Oesterreichische Nationalbank (Oesterreichische Nationalbank) is entitled to publish legally binding terms and conditions on its homepage under its terms of reference. "

Section 37 (1) reads as follows:

" (1) The General Assembly shall elect an auditor and a substitute auditor for a period of several years, for a period of five years at the latest, on the basis of Art. 27 of the ESCB/ECB Statute. Auditors or accounting firms cannot be elected to the auditor or substitute auditor who have received an audit opinion in accordance with § 274 of the German Commercial Code (UGB) on the audit of the annual accounts of the Oesterreichische Nationalbank (Oesterreichische Nationalbank) have already been drawn in five cases; this shall apply in cases where the audit is not carried out by a natural person as an auditor, including for the head of the audit and those who undertake the audit opinion . The rotation provisions shall not apply after an interruption of the audit activity for at least two consecutive financial years. "

(3) The following paragraph 4 is added to § 44:

" (4) The Oesterreichische Nationalbank (Oesterreichische Nationalbank) is, insofar as Union law or national law is not directly applicable, or is not data subject to banking secrecy in accordance with Section 38 of the Banking Act-BWG, BGBl. 1993/532 idgF., , shall be entitled to data which, in the context of a remit entrusted to it, shall be subject to reporting or disclosure requirements under this or any other federal law or by virtue of a national contract, directly applicable Union law or of a regulation of a federal authority, including for the To use all other tasks assigned to it by the Federal Law, the State Treaty or directly applicable Union law. "

4. In § 44a, the following paragraph 7a is inserted after paragraph 7:

" (7a) The operators of a payment system are obliged to report in writing both the admission and the cessation of the operation of a payment system of the Oesterreichische Nationalbank within two weeks. The operators of a payment system are also obliged to inform the Oesterreichische Nationalbank of the participants in their payment system as well as changes to the Oesterreichische Nationalbank in writing within two weeks. to make known. "

5. According to § 44c, the following § 44d is inserted:

" § 44d. The Oesterreichische Nationalbank (Oesterreichische Nationalbank) may be responsible for the transmission of reports which it may submit on the basis of this or any other federal law or on the basis of a national contract, directly applicable Union law or a regulation of a federal authority. , a data model shall be made available to the detectors, which shall be capable of complying with the reporting obligations in a standardised, electronic format. The data model and its technical specifications are to be published on the website of the Oesterreichische Nationalbank on the Internet in general. "

6. § 69 (2) reads:

" (2) From the balance sheet profit determined in accordance with paragraph 1 above, up to 10 vH shall be supplied to the pension reserve until the pension reserve to the assurance of the pension rights of the employees of the Oesterreichische Nationalbank by actuarial Calculation of the necessary cover capital. If the pension reserve is to exceed the necessary cover capital in the long term, the difference shall be resolved and calculated on the basis of the profit and loss account. "

7. In § 82a (1) the word order shall be "Arrival and incident obligations" through the phrase "Information, reporting and reporting obligations" replaced.

8. According to § 82b the following § 82c is inserted:

" § 82c. Anyone who does not fully comply with a request for information from the Oesterreichische Nationalbank pursuant to Section 44b (2) or who does knowingly inaccurate information in connection with such a request for information shall enter into a Administrative surrender and punishable by a fine of up to 2 000 euros. "

Section 83 (3) reads as follows:

" (3) The Oesterreichische Nationalbank (Oesterreichische Nationalbank) is entitled to finance the loans to be granted by the ERP fund in a secured form. The provisions of § 3 (5) of the ERP-Fonds-Gesetz, BGBl, are based on such financing. No 207/1962, in respect of the Fund's obligation to cover losses and the provisions of Section 12 of the ERP Fund Act as regards the right of the Fund to fix the interest rate. "

Article 3

Amendment of the Foreign Exchange Act 2004

The Foreign Exchange Act 2004-DevG, BGBl. I n ° 123/2003, as last amended by the Federal Law BGBl. I No 64/2013, shall be amended as follows:

Section 15 (2) reads as follows:

"(2) Regulations of the Oesterreichische Nationalbank shall be published in the Bundesgesetzblatt."

Article 4

Amendment of the Sanctions Act 2010

The Sanctions Act 2010-SanktG, BGBl. No 36/2010, as last amended by the Federal Act No. BGBl. I No 64/2013, shall be amended as follows:

Section 10 (1) reads as follows:

" (1) Regulations of the Oesterreichische Nationalbank shall be published in the Bundesgesetzblatt.