Bank Intervention And Restructuring Act-Regulation - Birg-V

Original Language Title: Bankeninterventions- und –restrukturierungsgesetz-Verordnung – BIRG-V

Read the untranslated law here: https://www.global-regulation.com/law/austria/2995696/bankeninterventions--und-restrukturierungsgesetz-verordnung--birg-v.html

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2. Regulation of the financial market authority (FMA) laying down the criteria for the significance of subsidiary, associated or participating institutions for the purposes of the Bank intervention and restructuring Act (Bank intervention and restructuring Act-regulation - BIRG-V)

Due to article 7, par. 5 and § 14 para 6 of the Bank intervention and restructuring Act - BIRG, Federal Law Gazette I no. 160/2013, is prescribed:

Criteria for the significance of subsidiary, associated or participating institutions

§ 1. The following criteria are decisive for the materiality of a subsidiary, associated or participating institution:



1. contribution to the profit be the group or 2. contribution to the financing of group or 3rd the extent of the share of assets, liabilities or equity of the group, which are held by the Institute, or 4. integration into core business or critical functions of the group or 5 central operational functions, ensuring administrative functions or risk or 6 the extent of the risks borne by the Institute , which could endanger the survival of the group in the worst case, or 7 the impending sale or settlement of the Institute risk for the group as a whole.

The occurrence of materiality with a subsidiary, associated or participating institution

2. (1) is an institution essential for the purposes of § 14 BIRG, if due to one or more of the criteria listed in article 1 in the context of a proper handling of the Group



1. This Institute is to take measures that BIRG necessary for the proper handling of the group within the meaning of § 15 para 2, or 2. the maintenance of the Institute's activities for the proper handling of the group within the meaning of § 15 para 2 BIRG necessary is.

(2) institutions that have been identified in accordance with paragraph 1 as essential for the purposes of § 14 BIRG, apply at the same time as BIRG essential for the purposes of section 7.

Significance due to negative effects on the financial stability of a Member State

§ 3. Notwithstanding the other provisions of this regulation is a downstream, associated or participating Institute anyway, then significantly if significant negative effects on the financial stability of a Member State in which it is established or exercising his activity to worry about in the event of his insolvency.

Entry into force

§ 4. This Regulation shall enter into force the day following the announcement.

Ettl Kumpf Müller