Amendment Of The Credit Risk Management Regulation

Original Language Title: Änderung der Kreditinstitute-Risikomanagementverordnung

Read the untranslated law here: http://www.ris.bka.gv.at/Dokumente/BgblAuth/BGBLA_2014_II_235/BGBLA_2014_II_235.html

235. Regulation of the financial market authority (FMA), modifies the credit risk management regulation

On the basis of § 39 para 4 of the banking law - BWG, BGBl. No. 532/1993, as last amended by Federal Law Gazette I no. 59/2014, is with the consent of the Federal Minister of finance prescribed:

The regulation of the financial market authority (FMA) on the proper collection, control, monitoring and limiting the types of risks pursuant to § 39 para 2 b BWG (credit institutions risk management regulation KI-RMV), Federal Law Gazette II No. 487/2013, is amended as follows:

1. paragraph 2 paragraph 1:

"(1) this regulation is to apply BWG extent to credit institutions in accordance with article 1, paragraph 1, provided that these not according to § 3 BWG or section 30a para 6 Banking Act in conjunction with article 10 of Regulation (EU) No. 575/2013 on supervision requirements for credit institutions and investment firms and for amending the Regulation (EU) No. 648/2012, OJ" No. L 176 of the 27.06.2013 p. 1 (as amended by the amending OJ) (Nr. L 321 vondem 30.11.2013 S. 6), or according to § 10 para 6 InvFG 2011 freed BWG on an individual basis from complying with section 39 paragraph 4. "

2. in article 3, paragraph 1 first sentence replaced the phrase "Acquisition, evaluation, control and monitoring" by the phrase "Acquisition, assessment, control, monitoring and limiting".

3. in article 3, paragraph 1, second sentence is inserted after the phrase "current European practice"the phrase", in particular guidelines and recommendations of the European supervisory authorities, as well as recommendations and warnings of the European systemic risk Board (ESRB), Board".

4. in article 5, paragraph 1, second sentence inserted "traceable to regulate" the phrase "and to document in writing" after the phrase.

5. in § 5 para 2 first sentence is inserted after the phrase "for the entire portfolio" the phrase "and for groups of connected clients".

6. in paragraph 6, the word is inserted after the phrase "that the inserted recognised credit risk mitigation techniques prove less effective" "might".

7. in paragraph 10, the phrase "impact, identify, measure and control" is replaced by the phrase "impact, identify, measure, control, monitor and limit".

8. in article 12, paragraph 1 first sentence replaced the phrase "Identification, measurement, management and monitoring" by the phrase "Identification, measurement, control, monitoring and limiting".

9. in article 14, paragraph 1, the phrase "Detection, control and monitoring" by the phrase is replaced "Determination, control, monitoring and limitation" and inserted after the phrase "the significant change in the rate of inflation"the phrase", real estate prices and the exchange rate".



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

"(2) article 2, paragraph 1, article 3, paragraph 1, article 5, paragraph 1 and 2, § 6, § 10, section 12, paragraph 1 and § 14 para 1 as amended by the regulation BGBl. II Nr 235/2014 with 1 October 2014 into force."

Ettl Kumpf Müller