Amendment Of The Credit Risk Management Regulation

Original Language Title: Änderung der Kreditinstitute-Risikomanagementverordnung

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235. Regulation of the Financial Market Supervisory Authority (FMA) amending the credit institutions risk management regulation

Pursuant to Section 39 (4) of the Banking Act-BWG, BGBl. No. 532/1993, as last amended by the Federal Law BGBl. I n ° 59/2014, is assigned with the approval of the Federal Minister of Finance:

The Regulation of the Financial Markets Authority (FMA) on the proper collection, control, supervision and limitation of risk types pursuant to § 39 paragraph 2b BWG (credit institution risk management regulation-KI-RMV), BGBl. II No 487/2013, shall be amended as follows:

1. § 2 (1) reads:

" (1) This Regulation shall apply to credit institutions in this respect in accordance with Section 1 (1) of the Federal Elections Act, insofar as these do not comply with Article 10 of Regulation (EU) No 575/2013 on prudential requirements for credit institutions and in accordance with Section 3 of the BWG or Article 30a (6) of the BWG. Investment firms and amending Regulation (EU) No 648/2012, OJ L 206, 22.7.2012, p. No. 1 (in the version of the corrigendum) OJ L 176, 15.7.2013, p. No. 6), or in accordance with Section 10 (6) of the InvFG 2011, have been exempted from compliance with Section 39 (4) of the Federal Elections Act on a single basis. "

2. In § 3 (1), first sentence, the phrase " Collection, assessment, control and monitoring " through the phrase " Collection, assessment, control, monitoring and limitation " replaced.

3. In § 3 (1) second sentence, after the word order " current European practices " the phrase " , including, in particular, guidelines and recommendations of the European Supervisory Authorities, as well as recommendations and warnings from the European Systemic Risk Board (ESRB), " inserted.

4. In § 5 (1), second sentence, after the word order "to regulate in a comprehensible way" the phrase "and to document in writing" inserted.

5. In § 5 para. 2, first sentence, after the word order " for the entire portfolio " the phrase " and for groups of connected customers " inserted.

6. In § 6, after the word order " the recognised credit risk mitigation techniques used prove to be less effective " the word " could " inserted.

7. In § 10, the phrase " Impact, determine, measure and control " through the phrase " Impact, determine, measure, control, monitor and limit " replaced.

8. In § 12 para. 1, first sentence, the phrase " Identification, measurement, control and monitoring " through the phrase " Identification, measurement, control, monitoring and limitation " replaced.

9. In Section 14 (1), the phrase " Determination, control and monitoring " through the phrase " Identification, control, monitoring and limitation " as well as after the word order " the significant change in the inflation rate " the phrase " , the real estate prices and the exchange rate " inserted.

10. The previous text of § 15 receives the sales designation "(1)" . The following paragraph 2 is added:

" (2) § 2 (1), § 3 (1), § 5 (1) and (2), § 6, § 10, § 12 (1) and § 14 (1) in the version of the BGBl Regulation. II No 235/2014 will be 1. October 2014, in force. "

Ettl Kumpfmüller