396. Regulation of the Financial Market Supervisory Authority (FMA) amending the maximum interest rate regulation
Pursuant to § 85 (1) and 2 (2) of the Insurance Supervisory Act-VAG, BGBl. No 569/1978, as last amended by the Federal Law BGBl. I No 184/2013, shall be arranged:
The Regulation of the Financial Markets Authority (FMA), which sets a maximum rate of interest for the calculation of the technical provisions in life assurance (Maximum interest rate regulation), BGBl. N ° 70/1995, as last amended by the BGBl Regulation. II No 354/2012, shall be amended as follows:
1. § 3 reads:
" § 3. (1) Insurance undertakings shall be subject to an additional interest-rate reserve for the existing interest-rate commitments in relation to the Versi-cherten, in so far as the current or expected returns from the financial statement are not intended to cover the interest obligations of the Commitments are sufficient. The supplementary interest rate shall be calculated and formed in accordance with paragraph 2 if the calculation gives a value greater than 0.
(2) The additional interest shall be at least equal to the following:
The value of the interest rate return (ZZR) in the year t is the product of the cover provision at the time t-1 (§ 81c para. 3 lit. D.II. VAG) and the average guarantee interest rate of the life insurance portfolio of the insurance undertaking, where t is the financial year, DRt is the cover provision in the year t, ZZRt the additional interest reine in the year t, t the average invoice rate of an insurance undertaking in the year t, The average invoice rate of all Austrian insurance companies in 2012 and RZSt is the reference interest rate in the year t. The reference interest rate shall be the annual value of the secondary market return of the Austrian Federal Bonds or of an index which is to be replaced by the Austrian Federal Government. The difference between the average invoice rate of all Austrian insurance companies in 2012 and the reference interest rate in 2012 is 1.45 vH.
(3) The supplementary interest rate reserve is a flat-rate provision which is to be considered as a cover provision and which is not attributable to the cover capital of the individual insurance contracts.
(4) Is the basis of assessment for profit-sharing within the meaning of section 18 (4) of the VAG in connection with § 3 para. 1 of the profit-sharing regulation, BGBl. II. N ° 398/2006 as amended by the BGBl Regulation. II No. 397/2013 negative, the additional interest repayment may be resolved in the difference. The amount of the resolution shall be resubmitted within five years after the dissolution, as long as the value referred to in paragraph 2 has not been reached, to be reintroduced to the repayment of interest.
(5) For insurance contracts according to § § 108g to 108i of the Income Tax Act 1988 (EStG 1988), BGBl. N ° 400/1988 in the version of the BGBl Act. I n ° 156/2013 (preferential treatment for the future), for which an additional provision has been made in accordance with the Supplementary Provisions for the Supplementary Provisions regulation, BGBl. II No 450/2003, as amended by the BGBl Regulation. II No 358/2010 shall not constitute an additional interest rate reserve. "
2. In accordance with Article 6 (7), the following paragraph 8 is added:
" (8) § 3 (1) to (5) in the version of the BGBl Regulation. II No 396/2013 shall apply for the first time to those years ending after 30 December 2013. '