Amendment Of The Banking Act, Of The Building Societies Act, Of The Stock Exchange Act 1989, The E-Money Law 2010, Of The Financial Conglomerates Act, Of The Financial Market Authority Act, Of Finanzmar...

Original Language Title: Änderung des Bankwesengesetzes, des Bausparkassengesetzes, des Börsegesetzes 1989, des E-Geldgesetzes 2010, des Finanzkonglomerategesetzes, des Finanzmarktaufsichtsbehördengesetzes, des Finanzmar...

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184. Federal Law, with which the Banking Act, the Bausparkassengesetz, the Stock Exchange Act 1989, the E-Money Act 2010, the Financial Conglomerate Act, the Financial Market Supervisory Authority Act, the Financial Stability Act, the Financial Collateral Act, the Real estate investment fund law, the Investment Fund Act 2011, the Capital Market Act, the National Bank Act 1984, the Sparkassengesetz, the Stability Procurement Act, the Securities Supervision Act 2007, the Payment Services Act, the Pensionskassengesetz (Pensionskassengesetz), the operating staff-and Self-employment law and the Insurance Supervision Act are amended

The National Council has decided:

table of contents

Article 1

Implementation of European Union directives

Article 2

Amendment of the Banking Act

Article 3

Amendment of the Bausparkassengesetz

Article 4

Amendment of the 1989 Stock Exchange Act

Article 5

Amendment of the E-Money Act 2010

Article 6

Amendment of the Financial Conglomerate Act

Article 7

Amendment of the Financial Market Supervisory Authority Act

Article 8

Amendment of the Financial Stability Act

Article 9

Amendment of the Financial Collateral Act

Article 10

Amendment of Real Estate Investment Fund Law

Article 11

Amendment of the Investment Fund Act 2011

Article 12

Amendment of the Capital Market Act

Article 13

Amendment of the National Bank Act 1984

Article 14

Amendment of the Sparkassengesetz

Article 15

Amendment of the Stability Procurement Act

Article 16

Amendment of the Securities and Markets Act 2007

Article 17

Amendment of the Payment Services Act

Article 18

Amendment of the Pensionskassengesetz

Article 19

Change of company employee and self-employment law

Article 20

Amendment of the Insurance Supervision Act

Article 1

This federal law is intended to implement Directive 2013 /36/EU on access to the activities of credit institutions and the supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing the Directives 2006 /48/EC and 2006 /49/EC, OJ L 124, 20.4.2006, No. 338, and on the adaptation of the supervisory law to Regulation (EU) No 575/2013 on the prudential requirements of credit institutions and investment firms and amending Regulation (EU) No 648/2012, OJ L 136, 31.5.2012, p. No. 1., as well as the implementation of Directive 2011 /89/EU amending Directives 98 /78/EC, 2002 /87/EC, 2006 /48/EC and 2009 /138/EC as regards the supplementary supervision of financial entities in a financial conglomerate, OJ L 176, 15.7.2011, p. No. OJ L 326, 8.12.2011 p. 113.

Article 2

Amendment of the Banking Act

The Banking Act-BWG, BGBl. No. 532/1993, as last amended by the Federal Law BGBl. I No 160/2013, shall be amended as follows:

1. In the table of contents, after the entry " § 1. Credit and financial institutions " the following entry is inserted:

" § 1a. Validity of Regulation (EU) No 575/2013 "

2. In the table of contents, the entries for § 21a to § 21h are replaced by the following entries:

" § 21a. Additional requirements for procedures

§ 21b. Other FMA Regulation appropriations "

3. The V. and VI. The section of the table of contents, including the headings, is:

" V. Section: Makroprudential supervision

§ 22. Risk of stock and system

§ 22a. Measures to limit systemic risk

§ 23. Capital conservation buffer

§ 23a. Anticyclic Capital Buffer

§ 23b. Global System-relevant Institutes

§ 23c. System-relevant institutions

§ 23d. System Risk Buffer

§ 24. Distribution restriction

§ 24a. Capital conservation plan

VI. Section: regulatory standards

1. Subsection: Liquidity

§ 25. Liquidity

2. Subsection: Company law

§ 26. Conditional convertible debentures

§ 26a. Instruments without voting rights

§ 26b. Recovery of own resources

§ 27. Special provisions for credit unions

§ 27a. Liquidity Alliance

3. Subsection: Institutions

§ 28. Organ shops

§ 28a. Special provisions applicable to institutions of credit institutions

§ 28b. Special obligations of the institutions in the case of credit

§ 29. Nomination Committee

4. Subsection: Group view

§ 30. Credit Institute Group

§ 30a. Credit institution-collective

§ 30b. Exemption from the application of own-resource requirements on a single basis

§ 30c. Exemption from the application of liquidity requirements on a single basis

§ 30d. Supervision of mixed financial holding companies

4. XIV. Section in the table of contents and heading is:

" XIV. Section: Supervision

§ 69. Responsibility of the FMA

§ 69a. Cost Allocation

§ 69b. Publication requirements of the FMA

§ 70. Powers of access to information and information

§ 70a. Parent Joint Undertaking

§ 71. On-the-spot checks

§ 72. Cooperation between the authorities

§ 73. View

§ 73a. Electronic transmission

§ 74. Notifications

§ 74a. Reporting Platform

§ 74b. Valuation of assets and off-balance sheet items

§ 75. Credit register

§ 76. State Commissioner

§ 77. Cooperation and data processing

§ 77a. International agreements

§ 77b. Colleges of supervisors and cooperation agreements

§ 77c. Cross-border decision making "

5. In the table of contents, the XXIII is deleted. Section with headline.

6. In the table of contents the entry is deleted " § 102. and § 102a. Conversion and recovery of participatory capital " .

7. In the table of contents, the entry " § 103. to § 103p. Transitional provisions " Replaced by the following entry:

" § 103. to § 103q. Transitional provisions "

8. In accordance with § 1, the following § 1a and title shall be inserted:

" Application of Regulation (EU) No 575/2013

§ 1a. (1) In the sense of this Federal Law:

1.

CRR credit institutions: credit institutions as defined in Article 4 (1) (1) of Regulation (EU) No 575/2013;

2.

CRR investment firms: investment firms in accordance with Article 4 (1) (2) of Regulation (EU) No 575/2013;

3.

CRR-Financial institutions: financial institutions as defined in Article 4 (1) (26) of Regulation (EU) No 575/2013.

(2) Without prejudice to § 3, credit institutions other than CRR credit institutions shall be subject to the provisions of Regulation (EU) No 575/2013 and to acts adopted on the basis of that Regulation, as if these credit institutions were CRR credit institutions. Where credit institutions other than CRR credit institutions are subject to the requirements of Regulation (EU) No 575/2013, they shall be treated as CRR credit institutions by other credit institutions and within their own credit institution group. "

9. § 2 Z 1 reads:

" 1.

Manager:

a)

Those natural persons who, according to the law or the statutes, are responsible for the management of the business, in particular for the definition of the strategy, objectives and the overall policy, as well as for the external representation of the credit or financial institution to the outside world are provided for;

b)

in the case of credit unions, those natural persons who are entrusted by the Management Board, the Supervisory Board or the General Assembly with the management of the business, in particular the definition of the strategy, objectives and the overall policy, and as Business managers have been made to represent the credit cooperative-without prejudice to a prokura (§ 48 UGB) or power of action (§ 54 UGB)-exclusively the business managers are empowered; the betting as a business manager is in the company's book to be entered;

c)

in the case of branches of foreign credit or financial institutions, those natural persons who are provided for the management of the operations and for the representation of the branch to the outside; these shall be for compliance with the provisions of Section 9 (7) Regulations by branch offices according to § 9 VStG; "

10. In § 2, the following Z 1a and 1b shall be inserted:

" 1a.

Management body: the institution or bodies of a credit institution in its management and supervisory role, appointed in accordance with the national law of a Member State, with a view to the strategy, objectives and overall policy of the credit institution institute and to monitor and monitor the decisions of the management. The managing body shall also include those persons who effectively conduct the business of the institution; if the legislation of a Member State provides that the managing body includes a number of different institutions with specific functions, the requirements imposed on the managing body by Directive 2013 /36/EU only for those members of the management body to which the legislation of the Member State concerned is assigned the appropriate powers;

1b.

Higher management: those natural persons who perform managerial duties in an institute or carry out executive activities and who are responsible and accountable to the day-to-day business; "

11. § 2 Z 2, 3, 5a to 7, 9 to 12, 15, 16, 23 to 25b, 30 to 32, 34, 36, 37, 48, 53, 56 to 57e, 60 to 70 and 76 are omitted.

12. § 2 Z 22, 26 to 28 and 41 to 45 are:

" 22.

Non-bank: anyone who is not a credit institution, nor a CRR credit institution authorised in a Member State or third country, including its branches;

26.

Internal approach: approach or model, which is regulated in Article 143 (1), (221), (225), (2), (2), (283), (363) and (259) (3) of Regulation (EU) No 575/2013, and the application of which is subject to an authorization by a credit institution;

27.

Risk of excessive indebtedness: risk arising from the factual or possible indebtedness of a credit institution for its stability and which requires unforeseen corrections of its business plan, including the sale out of an emergency situation, which could lead to losses or valuation adjustments of the remaining assets;

28.

Model risk: possible loss from the consequences of decisions based on the results of internal approaches and which are due to errors in the development, implementation and application of such approaches;

41.

systemic risk: risk of disruption in the financial system as a whole or of parts of the financial system, which may have serious negative effects in the financial system and in the real economy;

42.

Significant subsidiary: Company, which has a balance sheet total of 5vH as measured by the credit institution group and based on the criteria of size, business structure, clientele, business type, local area of activity, downstream institutions and whose importance for the Austrian financial sector, taking into account financial stability reasons, is considered to be significant by the FMA; the classification of a credit institution as a major subsidiary for the purposes of the Art. 13 of Regulation (EU) No 575/2013 is a member of the FMA to determine. If a credit institution is considered to be a major credit institution, the FMA has to issue a copy of the decision of the competent authority of the EU parent credit institution or of the parent credit institution of the EU parent financial holding company. ;

43.

Capital buffer requirement for system-relevant institutions: the capital buffer requirement to be applied by system-relevant institutions for the calculation of the individual or consolidated capital buffer, which is determined in accordance with Section 23c (5);

44.

Capital buffer requirement for global system-relevant institutions: the capital buffer requirement to be applied by global system-relevant institutions for the calculation of the consolidated capital buffer, which is determined in accordance with Section 23b (6);

44a.

Capital buffer requirement for the countercyclical capital buffer: capital buffer requirement, determined in accordance with Article 23a (1);

44b.

Capital buffer request for the system risk buffer: Capital Buffer Request, which is determined in accordance with 23d (1);

45.

combined capital buffer request: sum of the capital buffer requirement for compliance with the capital maintenance buffer and, if applicable, the capital buffer request for compliance with the countercyclical capital buffer, the system risk buffer, and the capital buffer requirement for system-relevant institutes or global system-relevant institutions, taking into account Section 23b (7) to (9) and Section 23c (8); "

13. In Section 3 (1), the word group shall be included in the introduction sentence "The provisions of this Federal Act shall not apply to" through the word group "The provisions of this Federal Act and of Regulation (EU) No. 575/2013 do not apply to" replaced.

14. § 3 (1) (2) is:

" 2.

Central counterparties (CCP) in accordance with Art. 2 Z 1 of Regulation (EU) No 648/2012, insofar as they operate the activities permitted to them in accordance with Articles 14 and 15 of Regulation (EU) No 648/2012; "

Section 3 (1) Z 4 reads as follows:

" 4.

Local authorities, in so far as they grant loans or loans with a subsidy status on the basis of national or national authorisations, or loans and loans for regional or local authorities; "

Section 3 (1) Z 6 reads as follows:

" 6.

Companies that are sponsoring companies that do not receive any funds from the public and which receive the funding being financed through the operation of the capital financing business, or the guarantee business or the granting of loans and loans (credit business) for local authorities; and

a)

where local authorities or other public-law bodies are involved in at least 20 vH,

b)

where, in addition to the public authorities, only credit institutions and insurance companies are involved, and

c)

in whose supervisory body, in accordance with the participation of the public authorities, persons nominated by the public authorities shall be appointed; "

Section 3 (1) Z 7 reads as follows:

" 7.

the Oesterreichische Kontrollbank Aktiengesellschaft in respect of legal transactions in the context of export promotion under the Export Promotion Act 1981 and the Export Finance Promotion Act 1981 with regard to Regulation (EU) No 575/2013 and § § 39 (3) and (4); "

18. § 3 (1) Z 9 and 10 are:

" 9.

the operation of the exchange-level business (§ 1 paragraph 1 Z 22) with regard to § § 31 to 34, § § 36, 37 and 39a, § § 42 to 65, insofar as the participation in the preparation of the consolidated financial statements of the parent credit institution is not required, § 1 para. 3, § 5 1 Z 5, 12 and 13, § § 27a to 28b, § 30, § 39 (3) and (4) and Part 2 to 8 and Part 1, Title II of Regulation (EU) No. 575/2013, in so far as it would be a parent credit institution, § § 66 to 68, § 73 (1) (1) (1), § § 74 to 76, § 78 Par. 1 to 7, of the XIX. Section;

10.

Credit institutions pursuant to § 5 Z 3 KStG 1988 as regards § § 39a and 74 and Articles 99 to 101, Art. 394 and 415, Part 3, Title III and Part 8 of Regulation (EU) No 575/2013; "

19. In § 3 (1), the following Z 11 is added:

" 11.

Companies which are sponsoring companies do not receive any funds from the public and exclusively the capital financing business, the guarantee business or the granting of loans and loans (credit business) for the award and administration of In the case of subsidies by local authorities or bodies of the European Union, and provided that they are not already covered by Section 3 (1) (6), they shall be subject to the conditions laid down in lit. a and b:

a)

These undertakings shall be subject exclusively to public-sector entities, credit institutions or insurance undertakings;

b)

The following provisions of this Federal Act shall apply to such companies: § 5 (1) (1) to (4a) and (Z) 6 to (14), § § 38 to 39b, § § 40 to 42, § 65, § 69 to 73a and § § 98 to 99e. "

(20) In § 3 (2), the introductory word group shall be "The provisions of Section 25 (3) to (14) and Section 74 (3) (3) (3) shall not apply to" by the introductory word group " The provisions of Part 6 of Regulation (EU) No 575/2013, § § 25, 27a, 39 (3) and (4) and § 74 (6) Z 3 lit. a in conjunction with Section 74 (1), no application shall be found " replaced.

21. § 3 para. 2 Z 7 deleted.

22. According to Article 3 (2), the following paragraph 2a is inserted:

" (2a) The provisions of Articles 99 to 101, Articles 394 and 415 and of Parts 6 and 7 of Regulation (EU) No 575/2013, § § 25, 27a, 39 (3) and (4) and § 74 (6) Z 3 lit. a in conjunction with Section 74 (1), no application shall be applied to credit institutions which, as a result of their statutes, are primarily engaged in the factoring business. "

Section 3 (3) reads as follows:

" (3) The provisions of this Federal Act and of Regulation (EU) No 575/2013 shall not apply to the following undertakings in so far as they operate in the transactions referred to in Article 1 (1), which belong to the shops which are to be owned by them:

1.

Companies of the contract insurance with the exception of § 31 (2), § 38 (4), § 41 (1) to (4), (6) and (7) and § 75;

2.

Pension funds under the Pensionskassengesetz (Pensionskassengesetz);

3.

undertakings which are recognised as non-profit-making associations;

4.

social insurance institutions;

5.

undertakings operating the pawn-making sector;

6.

recognised third country investment firms in accordance with Article 4 (1) (25) of Regulation (EU) No 575/2013, local firms in accordance with Article 4 (1) (4) of Regulation (EU) No 575/2013 and undertakings established in a third country pursuant to Article 15 (1) (3), (4) and (6) The Stock Exchange Act 1989, in each case with regard to the transactions according to § 1 paragraph 1 Z 7 lit. (b) to (f) and (Z) 7a which, in the context of their membership of a stock exchange, operate them on a commercial basis in so far as they are exclusively limited to the commercial conduct of the transactions covered by the authorisation as a member of the stock exchange;

7.

AIFM in accordance with Article 2 (1) (a) to (c) of Directive 2011 /61/EU, in so far as they do not exceed the scope of their authorisation in accordance with this Directive; "

Section 3 (4a) reads as follows:

" (4a) In the case of credit institutions which are entitled to operate the real estate fund business in accordance with Article 1 (1) (1) (c) 13a, the following shall apply:

1.

§ § 22 to 24a, 39a and 57 (5) and parts 3, 5 and 8 of Regulation (EU) No 575/2013 are not applicable;

2.

the own funds must not be allowed to fall below the amount to be determined in accordance with Article 9 (5) Z 1 WAG 2007, irrespective of the own resources requirement. "

Section 3 (5) reads as follows:

" (5) Insofar as the exclusive business activities of a securitisation special company in the issuing of debt securities, in the acceptance of loans, in the conclusion of hedging transactions as well as in the conclusion of such business activities , in order to acquire claims pursuant to Article 5 (1) of Regulation (EU) No 575/2013 of an originator or to take risks associated with such claims, such operations shall not constitute a banking business; however, the securitisation special company shall have the following requirements in accordance with Article 5 (1) of Regulation (EU) No 575/2013, the originator of which is a credit institution, to comply with Article 38 in the same way as the credit institution acting as the originator and the credit institution to which the management of the exposures is entrusted. '

Article 3 (6) reads as follows:

(6) For credit institutions which, by virtue of their statutes, only issue debt securities for the account of other credit institutions, the issuing credit institution carrying only the risk of the Gestion, are § 1a (2) and § § 23 to 24a not to be applied. "

Section 3 (7) reads as follows:

" (7) For credit institutions which are entitled to operate the operating system of the pre-care business, the following shall apply:

a)

§ 5 (1) (5) (5) is to be applied with the proviso that the initial capital of EUR 5 million is to be replaced by EUR 1.5 million;

b)

§ 69a (2) with the proviso that, in the calculation of the number of costs, the capital requirement in the quarterly pass according to § 39 BMSVG for the last preceding fourth quarter of a calendar year is to be applied in accordance with § 20 BMSVG is to be co-located;

c)

§ 1 para. 3, § § 22 to 24a, § 39a, § 57 para. 5, § 74 paragraph 1 in conjunction with paragraph 6 Z 3 lit. a and Articles 84 to 86, as well as parts 3, 5 and 8 of Regulation (EU) No 575/2013, as well as part 4 of Regulation (EU) No 575/2013, shall not apply to the assets of the investment community;

d)

regardless of the own resources requirements according to lit. a and § 20 BMSVG the own funds of the BV cash register must not be allowed to fall under the amount to be determined in accordance with § 9 paragraph 5 Z 1 WAG 2007, whereby for the determination of the operating expenses, Appendix 1 to § 40 BMSVG, Form B, Position B.2. is to be used;

e)

§ 5 (1) (9a), Section 28a (5) (5) (5), (29) and (42) (6) are to be applied with the proviso that the assets allocated to the investment community shall not be included in the calculation of the balance sheet total. "

26a. The following paragraph 10 is added to § 3:

" (10) For credit institutions which are not CRR credit institutions, RGBl is the case with regard to the receipt of funds from notarial trustees in accordance with § 109a of the Notarial Code. No 75/1871, the implementation of the current account and the assessment of these funds are not to be applied to Part 3, 4, 6 and 7 of Regulation (EU) No 575/2013 and to sections 22 to 24a. "

27. In accordance with § 4 (3) Z 5 the following Z 5a is inserted:

" 5a.

provided that there are no qualifying holdings in accordance with Z 5, the identity and the amount of the 20 largest shareholders or members and the disclosure of the group structure, provided that they belong to a group; "

§ 4 (5) Z 1 to 3 are:

" 1.

a subsidiary of a credit institution authorised in another Member State pursuant to Art. 4 (1) (1) the Regulation (EU) No 575/2013, an asset management company in accordance with Art. 2 (1) (lit). b of Directive 2009 /65/EC ("UCITS Management Company") , an investment firm, an electronic money institution, a payment institution or an insurance undertaking has submitted the application in accordance with paragraph 3 above;

2.

a subsidiary of a subsidiary of a credit institution authorised in another Member State, in accordance with Art. 4 Paragraph 1 Point 1 of the Regulation (EU) No 575/2013, a UCITS management company, an investment firm, an e-money institution, a payment institution or an insurance undertaking has submitted the application in accordance with paragraph 3 above;

3.

a credit institution by the same natural or legal person as a credit institution authorised in another Member State in accordance with the provisions of Article 4 (1) (1) of Regulation (EU) No 575/2013, a UCITS management company, a investment firm, an E-money institution, a payment institution or an insurance undertaking, has submitted the application as referred to in paragraph 3. "

Section 5 (1) Z 7 reads as follows:

" 7.

the directors have ordered economic circumstances and there are no facts from which doubts on their personal reliability, sincerity and reliability required for the operation of the transactions in accordance with § 1 (1) In the review of the reliability, the FMA also has access to the database set up by the EBA pursuant to Article 69 (1) of Directive 2013 /36/EU; if such facts are present, the concession may only be granted shall be granted if the unjustifiable nature of the doubts has been certified; "

30. In § 5 (1) the following Z 9a is inserted:

" 9a.

the directors spend sufficient time to carry out their duties in the credit institution, where a manager has the circumstances in the case of carrying out a number of activities in a managing function or as a member of a supervisory board; in individual cases and the nature, scope and complexity of the credit institution's operations; managers of credit institutions of any legal form whose balance sheet total exceeds one billion euros or transferable securities , which are admitted to trading on a regulated market pursuant to Article 1 (2) of the Listed on the Stock Exchange Act 1989, only one activity in a managing function and in addition two activities as a member of a supervisory board may be carried out; for the calculation of the number of activities, a number of activities shall apply. Activities in managing function and as a member of a supervisory board

a)

within the same group consisting of the EU parent institution, its subsidiaries and its own subsidiaries or other undertakings which belong to the same group of credit institutions, to the extent that all of the above mentioned in the supervision of shall be included or subject to supplementary supervision in accordance with § 6 (1) FKG;

b)

in the case of members of the same institution-related security system pursuant to Art. 113 (7) of Regulation (EU) No 575/2013, or

c)

in the case of undertakings in which the credit institution holds a qualifying holding in accordance with Article 4 (1) (36) of Regulation (EU) No 575/2013

as just an activity. Activities in a business-leading role or as a member of a supervisory board in organizations that do not predominantly pursue commercial objectives are not included in the calculation. The FMA may, upon request, authorise an overshoot of the limit for an activity as a member of a supervisory board. The FMA regularly has to inform the EBA of such authorisations; "

31. § 5 (4) is deleted.

32. § 6 para. 2 Z 2 reads:

" 2.

the credit institution shall not comply with the prudential requirements set out in Part 3, 4 and 6 of Regulation (EU) No 575/2013 or in accordance with Section 70 (4b) or (4d) or does not fulfil its obligations to its creditors; "

§ 8 reads:

" § 8. The FMA has the European Banking Authority (EBA) (Regulation (EU) No 1093/2010 establishing a European Supervisory Authority (European Supervisory Authority), amending Decision No 716 /2009/EC and repealing Decision No 716 /2009/EC 2009 /78/E of the Commission, No. OJ L 331, 15.12.2010, p. 12):

1.

The concession requirements in accordance with § 5;

2.

any concession granted pursuant to § 4 and

3.

any withdrawal from the concession pursuant to Section 6, stating the reasons for the concession.

Authorisations of branches issued by credit institutions established in a third country shall inform the European Commission, EBA and the European Banking Committee (EBC) of the FMA without delay. "

Section 9 (1) reads as follows:

The activities referred to in Annex I to Directive 2013 /36/EU may, in accordance with the conditions laid down in paragraphs 2 to 8, be authorised by a CRR credit institution authorised in a Member State which has its registered office in the Member State concerned, via a the branch or by means of the freedom to provide services, provided that its authorisation is authorised to do so. "

35. The following sentence is added to Article 9 (2):

"If a credit institution headquarted in another Member State has established several branches in Austria in accordance with Article 4 (1) (17) of Regulation (EU) No 575/2013, it shall be considered as a single branch."

36. In § 9 para. 3 Z 1, the word group shall be "in accordance with § 74" through the word group "according to § § 74 and 74a" replaced.

37. In § 9 para. 6, the word group shall be "Annex I to Directive 2006 /48/EC" through the word group "Annex I of Directive 2013 /36/EU" replaced.

38. In § 9 (7):

' (7) Credit institutions as referred to in paragraph 1 which carry out activities in Austria through a branch shall have sections 25, 27a, 31 to 41, 44 (3) to 6, 60 to 63, 65 (3a), 66 to 68, 74 to 75, 93 (8) and (8a), 94 and 95 (3) and (4) and, depending on their Subject matter of § § 36, 38 to 59, 61 to 66 and 69 to 71 WAG 2007, § § 4 and 26 to 48 ZaDiG and the other federal laws and EU regulations referred to in § 69 and the regulations issued pursuant to the above-mentioned provisions and Modest. "

39. In § 9, the following paragraph 7a is inserted after paragraph 7:

" (7a) The FMA may require that each credit institution referred to in paragraph 1 with a branch office in Austria shall report periodically on its activities in Austria pursuant to Article 4 (1) (17) of Regulation (EU) No 575/2013. These reports may only be requested for statistical purposes or for information or supervisory purposes. The FMA may, in particular, require credit institutions to provide information on whether the branch office is a major branch in accordance with § 18. "

40. In § 9 (8), after the word group "Federal Laws" the word group "and EU regulations" inserted.

41. § 10 para. 4 Z 1 reads:

" 1.

The amount and composition of own resources and the sum of the own resources requirements laid down in Article 92 of Regulation (EU) No 575/2013, as well as the own resources quota of the credit institution; "

42. In Section 10 (4) (2) (2), the point at the end shall be replaced by a stroke, and the following Z 3 to 8 shall be added:

" 3.

all information relating to the management, management and ownership of the credit institution concerning the guarantee of the stability of the financial system, the supervision and the examination of the conditions for admission;

4.

all information that is appropriate for the supervision of credit institutions, in particular in relation to liquidity, solvency, deposit insurance, large expound, accounting, internal audit and other factors related to that of the credit institution; may have an effect on the systemic risk,

5.

without delay, all information and information on the monitoring of liquidity in accordance with Part 6 of Regulation (EU) No 575/2013 and Title VII, Chapter 3 of Directive 2013 /36/EU in respect of the branches of the credit institution via the branch where such information is provided for the security of the assets entrusted to the credit institution, the protection of depositors or investors in the host Member State or for the stability of the financial system of the the host Member State, and

6.

without delay, any substantial or probable liquidity difficulties and details of the planning and implementation of a remediation plan;

7.

the information and findings obtained for the risk assessment of the credit institution or the assessment of the stability of the credit institution, carried out by the FMA itself, carried out by branch offices in which Austria is the host Member State, financial systems in the Member State of origin shall be useful; and

8.

to inform without delay of withdrawal of the concession of an Austrian credit institution operating in that Member State. "

43. The following closing part is added to § 10 (4):

" FMA shall also inform the competent authorities of the host Member State, such as the information and information provided by the competent authorities of the host Member State in accordance with Article 50 (1) to (3) of Directive 2013 /36/EU, , and which measures have already been taken on the basis of the information provided. On request, appropriate explanations shall also be provided. If the FMA rejects the measures taken by the competent authorities of the host Member State in accordance with Article 50 of Directive 2013 /36/EU, it may refer the matter to the EBA in accordance with Article 19 of Regulation (EU) No 1093/2010. "

44. In Section 10 (5), the reference " 4 Z 2 " by reference " 4 Z 2 to 6 " replaced.

45. In Section 10 (6), the word group shall be "Annex I to Directive 2006 /48/EC" through the word group "Annex I of Directive 2013 /36/EU" replaced.

46. In § 11 para. 1, first sentence, the word group "points 2 to 14 of Annex I to Directive 2006 /48/EC" through the word group "points 2 to 14 of Annex I to Directive 2013 /36/EU" and the word group "financial institution referred to in Article 4 (5) of Directive 2006 /48/EC" by the word "CRR financial institution" replaced.

47. In Section 11 (1) (1) (1), the word group shall be "credit institution referred to in Article 4 (1) of Directive 2006 /48/EC" through the word group "CRR credit institution" replaced.

48. § 11 (1) Z 5 reads:

" 5.

the subsidiary is included in the consolidated supervision on a consolidated basis in accordance with the rules of Directive 2013 /36/EU and Regulation (EU) No 575/2013, in particular with regard to the identification of the subsidiary Minimum requirements in accordance with Art. 92 of Regulation (EU) No 575/2013, the control of large expound and the limitation of holdings. "

49. In Section 11 (2) (1) (1) the word group shall be "credit institutions as defined in Article 4 (1) of Directive 2006 /48/EC" through the word group "CRR credit institutions" replaced.

50. In § 11 para. 4, the word group shall be "points 2 to 14 of Annex I to Directive 2006 /48/EC" through the word group "points 2 to 14 of Annex I to Directive 2013 /36/EU" replaced.

51. In § 11 para. 5 Z 1 the word group shall be "74, 75" through the word group "74 to 75" replaced.

52. In § 11 para. 6 final part is after the word group "after the activity carried out" the word group "the provisions of Regulation (EU) No 575/2013," inserted.

53. In Section 13 (1), the word group shall be "points 2 to 14 of Annex I to Directive 2006 /48/EC" through the word group "points 2 to 14 of Annex I to Directive 2013 /36/EU" and the word group "financial institution within the meaning of Article 4 (5) of Directive 2006 /48/EC" by the word "CRR financial institution" replaced.

54. In § 13 para. 2 Z 3 the word group shall be "credit institution within the meaning of Article 4 (1) of Directive 2006 /48/EC" by the word "CRR credit institution" replaced.

Section 13 (2) Z 5 reads as follows:

" 5.

the grandparent company is included in the consolidated supervision of the parent credit institution on a consolidated basis, in accordance with the rules of Directive 2013 /36/EU and Regulation (EU) No 575/2013, in particular as regards: the solvency ratio, the control of large expound and the limitation of holdings. "

56. In Section 13, Section 4, Z 1, the word group shall be "74, 75" through the word group "§ § 74 to 75" replaced.

57. In § 13 para. 4 final part and para. 5 final part is after the word group "Federal Laws" in each case the word group "and Regulations" inserted.

Section 15 (1) reads as follows:

" (1) A credit institution which carries out its activities in Austria by a branch pursuant to Article 4 (1) (17) of Regulation (EU) No 575/2013 or by means of the free movement of services, provisions of Regulation (EU) No 575/2013. 575/2013, § § 25, 27a, 31 to 41, 44 (3) to 6, 60 to 63, 65 (3a), 66 to 68, 74 to 75, 93 (8) and (8a), 94 and 95 (3) and (4) or the other federal laws and regulations referred to in § 69, or pursuant to the above-mentioned provisions , or there is a significant risk of such a breach, the FMA, without prejudice to the application of Sections 96 to 98 and 99 Z 7, to immediately inform the competent authorities of the home Member State and to call for appropriate measures to be taken without delay in order to ensure that the affected Credit institution shall terminate the unlawful state or take any measures to counteract the risk of a breach of the law. "

59. In § 15, the following paragraph 1 is inserted after paragraph 1:

" (1a) If the FMA considers that the competent authority of the home Member State has failed to fulfil its obligations pursuant to paragraph 1 or is not going to comply, it may, in accordance with Article 19 of Regulation (EU) No 1093/2010, use the EBA to: Matter. "

Section 15 (3) reads as follows:

" (3) In the event of an urgent risk for the fulfilment of the obligations of the credit institution referred to in paragraph 1 against its creditors, in particular for the security of the assets entrusted to it, the protection of the common interests of depositors, or Investors, at systemic risk, inventory or systemic risk or in order to ensure the stability of the Austrian financial system , FMA may, provided that the competent authorities of the home Member State have not yet taken any measures or reorganisation measures pursuant to Article 2 of Directive 2001 /24/EC on the reorganisation and winding-up of credit institutions, OJ L 197, 21.7.2001, p. No. 15., in order to prevent the risk of temporary measures pursuant to paragraph 2 (2) (1) and (2), by communication with the competent authorities of the home Member State, the European Commission and the EBA shall order the EBA, which shall not enter into force at the latest 18 months after the date of effect. The security measures

1.

shall not contain discriminatory or restrictive treatment as a result of the admission of the credit institution in another Member State;

2.

shall be proportionate in accordance with the objective pursued in the first sentence of paragraph 3;

3.

may not give preference to creditors of the credit institution in Austria vis-à-vis the creditors in other Member States;

4.

lose their effectiveness as soon as the competent authorities or courts of the home Member State take reorganisation measures in accordance with Article 2 of Directive 2001 /24/EC.

FMA has to put an end to the security measures if, in their opinion, they have become obsolete, unless they lose their effectiveness in accordance with Z 4. "

Section 15 (5) reads as follows:

The competent authorities of the home Member State may, after prior notification to the FMA itself or through its agents, carry out the checks required for the prudential supervision of the branch, in accordance with Article 52 of the Directive. 2013 /36/EU, and Article 37 (2) of Directive 2005 /60/EC on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing, OJ L 327, 22.12.2005, p. No. OJ L 309, 25.11.2005 p. 15, as last amended by Directive 2010 /78/EC, OJ L 309, 25.11.2010, p. No. OJ L 331, 15.12.2010, p. 120, at the branch office. The FMA may carry out such tests, as well as those required pursuant to paragraph 1, even in accordance with one of the procedures referred to in § 70 (1) (1) (1) to (3). If the competent authority in the Member State of origin of the FMA has received information and findings in the course of an audit pursuant to Article 52 of Directive 2013 /36/EU and Article 37 (2) of Directive 2005 /60/EC, the FMA shall take into account the FMA in the case of the FMA Establish its supervisory audit programme (Section 69 (2)), taking into account also the objective of ensuring the stability of the financial system in the Member State of origin. "

(62) The following paragraphs 6 to 8 are added to § 15:

" (6) The FMA, after informing the competent authorities of the home Member State, has the power to take the activities of credit institutions carried out in Austria by branches in accordance with Article 4 (1) (17) of Regulation (EU) No 575/2013. , provided that this is appropriate for the stability of the Austrian financial system. After the examination, the FMA shall have the information and findings obtained for the risk assessment of the credit institution or the assessment of the stability of the Austrian financial system to the competent authorities of the home Member State. are essential.

(7) The FMA shall provide the competent authorities of the home Member State with all the information available on the management, management and ownership of the credit institution, which shall ensure the stability of the financial system, the supervision and the the examination of the conditions for admission and any information which may be appropriate for the supervision of credit institutions, in particular in relation to liquidity, solvency, deposit insurance, large exposual credit, financial reporting, internal audit and other factors that are related to credit institutions systemic risk may have an effect to facilitate.

(8) The FMA may ask the competent authorities of the home Member State, how the information and findings it provides have been taken into account and what measures have already been taken on the basis of the information provided , where they may also require additional explanations. If, even after receiving supplementary explanations, the FMA concludes that the competent authorities of the home Member State have not taken sufficient action, it may, after notification to the competent authorities of the The Member State of origin and the EBA shall themselves take appropriate measures to prevent further irregularities and thus to protect the interests of depositors or investors and to ensure the stability of the Austrian financial system. "

Section 16 (1) reads as follows:

' (1) If an Austrian credit institution which carries out its activities in a Member State by a branch or by means of the freedom to provide services, the national rules of the host Member State, the FMA shall, in accordance with To establish an understanding by the competent authorities of the host Member State, in accordance with Section 70 (4), in order to establish the state of law in the host Member State. The competent authority of the host Member State shall, without delay, inform the competent authority of the measures taken in writing. "

Section 17 (1) reads as follows:

" (1) A financial institution which carries out its activities in Austria through a branch or by means of the freedom to provide services, provisions of Regulation (EU) No 575/2013, § § 34 to 41, 44 (3) to 6, 60 to 63, 74 to 75, and 94 or of the other federal laws and regulations referred to in § 69, or regulations and regulations adopted pursuant to the aforementioned provisions, or there is a significant risk of such a breach, the FMA, without prejudice to the application § § 96 and 99 of the competent authorities of the home Member State immediately thereof and to call upon the competent authorities of the home Member State to take appropriate measures without delay to ensure that the credit institution concerned ends the unlawful state or the risk of an infringement of the law shall be counteracted. "

65. In § 17, the following paragraph 1 is inserted after paragraph 1:

" (1a) If the FMA considers that the competent authority of the home Member State has failed to fulfil its obligations pursuant to paragraph 1 or is not going to comply, it may, in accordance with Article 19 of Regulation (EU) No 1093/2010, take the EBA with the Matter. "

66. § 17 (4) reads:

" (4) The competent authorities of the home Member State may, after prior notification to the FMA itself or through its agents, be responsible for monitoring the branch referred to in Articles 41 and 52 of Directive 2013 /36/EU and Article 37 (2) of the Directive Directive 2005 /60/EC, which is required by the branch office. FMA may also carry out such tests even in accordance with one of the procedures referred to in § 70 (1) (1) (1) to (3). "

(67) The following paragraph 5 is added to § 17:

" (5) The FMA, after informing the competent authorities of the home Member State, has the power to carry out the activities carried out in Austria by branches in accordance with Article 4 (1) (17) of Regulation (EU) No 575/2013 of the financial institutions. , provided that this is appropriate for the stability of the financial system in Austria. After the examination, the FMA shall have the information and findings obtained for the risk assessment of the financial institution or the assessment of the stability of the Austrian financial system to the competent authorities of the home Member State. are essential. "

68. In § 18 (1), after the word "Branch" the word group 'in accordance with Article 4 (1) (17) of Regulation (EU) No 575/2013' inserted.

69. In § 18 (1) (1) (1) (1), the end of the inversion shall be replaced by a line-point and Z 2 shall read:

" 2.

How a suspension or suspension of the credit institution's activities could have an impact on systemic liquidity and payment, clearing and settlement systems in Austria; "

70. In § 18 (5) the reference " Art. 129 para. 1 lit. c of Directive 2006 /48/EC " by reference " Art. 112 para. 1 lit. c of Directive 2013 /36/EU " and the reference " Art. 132 para. 1 lit. c and d of Directive 2006 /48/EC " by reference " Art. 1 lit. c and d of Directive 2013 /36/EU " replaced.

71. In § 18 (6) the reference " Art. 131a of Directive 2006 /48/EC " by reference " Art. 116 of Directive 2013 /36/EU " replaced.

72. In § 20 (4), first sentence, after the word group "contrary to a violation pursuant to Article 20a (2)" A dash followed by the word group "during the assessment period according to § 20a (1)" inserted.

73. The following paragraph 7 is added to § 20:

" (7) In the determination of the voting rights with regard to § 4 (3) Z 5 and § 5 (1) Z 3 and in the determination of the voting rights in respect of § § 20 to 20b and § 21 paragraph 1 Z 2 is § 91 (1a) bis (2a) in conjunction with § § 92 and 92a (2) and (3) The Stock Exchange Act 1989, whereby in the case of § § 20 to 20b and Section 21 (1) (2) of this Federal Act, voting rights or shares of capital, the investment firms or credit institutions as a result of a takeover of the issueof financial instruments or placement of financial instruments with a fixed takeover obligation pursuant to § 1 Z 2 lit. f WAG 2007, do not have to be taken into account, provided that these rights are not exercised or otherwise used to intervene in the management of the issuer, and shall be made within one year after the date of purchase shall be sold. "

§ 20a (2) last sentence reads:

" The FMA may be subject to compliance with the requirements of § 22c Z 3 lit. a to c FMABG make public the communication, together with the statement of reasons, on or without the relevant request of the interested acquirer. "

75. In § 20a (4) (2) (2) the word group shall be "2006/48/EC, 85 /611/EEC, 2002 /83/EC, 92 /49/EEC, 2004 /39/EC, or 2005 /68/EC" through the word group "2013/36/EU, 2009 /65/EC, 2009 /138/EC or 2004 /39/EC" replaced.

76. In § 20a (5) Z 1, 2 and 3, the word group shall be "Management company referred to in Article 1a (2) of Directive 85 /611/EEC" in each case by the word "UCITS management company" replaced.

§ 20b (1) (1) and (2) read:

" 1.

The reliability of the interested acquirer in accordance with § 5 (1) Z 6, 7 and 9;

2.

the reliability, professional competence and experience referred to in Article 5 (1) Z 6 to 9 of each person who will manage the business of the credit institution as a result of the intended acquisition; "

78. In § 20b, paragraph 3, the reference " Art. Article 19 (9) of Directive 2006 /48/EC " by reference " Art. Article 22 (9) of Directive 2013 /36/EU " and the reference " Art. 19a (4) of Directive 2006 /48/EC, as amended by Directive 2007 /44/EC " by reference " Art. Article 23 (4) of Directive 2013 /36/EU " replaced.

79. § 21 (1) (1) and (2) read:

" 1.

CRR credit institutions approved for any merger or association of credit institutions or CRR credit institutions authorised in a Member State or third country where at least one of the credit institutions or CRR credit institutions involved is a credit institution in accordance with Article 1 (1) (1) (1) (1) (1)) 1 is;

2.

for each achievement, crossing or Falls below the limits of 10 vH (qualifying holding), 20 vH, 33 vH and 50 vH of the voting rights or of the capital of a credit institution or CRR credit institution with registered office in a third country; "

§ 21a and § 21b together with headings are:

" Additional requirements for procedures

§ 21a. (1) The FMA, taking into account Article 20 of Regulation (EU) No 575/2013 and the implementing standards to be adopted by EBA pursuant to Article 20 (8) of Regulation (EU) No 575/2013, has more detailed provisions pursuant to Z 1 and 2 above the implementation of authorisation procedures for internal approaches and other procedures based on Regulation (EU) No 575/2013, in the interests of legal certainty or for the purpose of determining the use of internal approaches, in particular the authorisation procedure, the ongoing monitoring, the withdrawal and the Revocation of authorisations to be issued:

1.

in the case of internal approaches to the requirements for authorisation, ongoing monitoring and the repeal of the authorisation;

2.

on the application and display procedures provided for in Regulation (EU) No 575/2013.

In accordance with the first sentence of Article 101 (4) of Directive 2013 /36/EU, the FMA has to comply with the first sentence of Article 101 (4) of Directive 2013 /36/EU, as well as European practice and possible technical regulation and regulation adopted by the European Commission. To take account of implementing standards in accordance with Articles 10 and 15 of Regulation (EU) No 1093/2010. The procedural provisions must be appropriate and necessary for the prudential procedure. The scope of any information to be provided shall be appropriate and adapted to the relevant procedures.

(2) In the authorization procedures for internal approaches pursuant to Art. 143 (1), 222, 225, 312 (2), 277, 363 and 259 (3) of Regulation (EU) No 1093/2010, FMA has issued an opinion of the Oesterreichische Nationalbank on the existence of the , in accordance with the conditions laid down in Regulation (EU) No 575/2013.

(3) The FMA has to monitor the application of internal approaches within the meaning of Regulation (EU) No 575/2013, at least every three years, and in doing so, to apply sound and current techniques and practices. In this examination, the FMA has to take into account, in particular, changes in the business activities of the credit institution and the application of internal approaches to new products.

In the event of non-compliance with the use of internal approaches, the effects of which are significant, the credit institution of the FMA shall submit a plan showing that the conditions laid down in the Regulation (EU) No 1093/2010 within a reasonable, concrete time period. The FMA has to request a rectification of the plan if the time limits set there are inappropriate or the measures are unsuitable to restore the legal condition. If the credit institution is not in a position to restore the lawful condition within a reasonable period of time, the FMA has to revoke the approval of an internal approach, if this is appropriate and effective, in order to maintain the legal status . In the event of substantial defects, the FMA may require the credit institution to prescribe higher multipliers or capital surcharges in accordance with § 70 para. 4a or revoke the authorization of an internal approach, or limit the scope of application to those areas of application in which a legal status, or may be restored within a reasonable period of time.

(5) In the case of an institution which uses an internal market risk approach, the exceedances recorded in accordance with Article 366 of Regulation (EU) No 575/2013 are so numerous that the internal approach is not sufficiently precise or is no longer precise enough; to take effective and proportionate measures to ensure that the Institute makes a rapid improvement in the internal approach or to withdraw the authorization.

Other FMA Regulation appropriations

§ 21b. (1) The FMA is authorized to do so by Art. 6 (4), Art. 18 (3), (5) and (6), Art. 26, Art. 27 (1) (a), Art. 77, Art. 78, Art. 89 (3), Art. 124 (2), Art. 125 (3), Art. 129 (1) (c), Art. 164 (5), Art. 178 (1) (lit). b and para. 2 lit. d, Art. 282 (6), Art. 311 (3), Art. 311 (3), Art. 327 (2), Art. 329 (1), Art. 336 (4) (a), Art. 380, Art. 395 (1), Art. 473, Art. 481 (2), Art. 495 (1) of Regulation (EU) No. 575/2013 Powers or powers granted to it in the technical implementing standards adopted pursuant to Articles 99, 101, 394, 415 and 430 of Regulation (EU) No 575/2013 by regulation.

(2) The FMA has through regulation the percentages and factors according to Art. 465 (2), Art. 467 (3), Art. 468 (3), 478 (3), 478 (3), 479 (4), 480 (3), 481 (5) and 486 (6) of Regulation (EU) No. 486. 575/2013, taking into account the economic interest in a functioning banking system and the stability of the financial markets. Prior to the release of such a regulation, the FMA has to obtain the approval of the Federal Minister of Finance.

(3) In the event of a regulation, the FMA has to take into account technical regulatory and implementing standards in accordance with Articles 10 and 15 of Regulation (EU) No 1093/2010, which are related to the content of the Regulation as referred to in paragraphs 1 and 2 of this Regulation. Provisions of Regulation (EU) No 575/2013. "

81. § § 21c to 21h together with headings are not required.

82. The V. and the VI. Section, subsections 1 and 2 with headings are:

" V. Section: Makroprudential supervision

Risk of stock and system

§ 22. (1) Inventory risk is the risk of an insolvency-related collapse of the credit institution in the event of the failure to take corrective action. An inventory risk shall be assumed if:

1.

the hard core capital available, in accordance with Article 50 of Regulation (EU) No 575/2013, meets the requirement for hard core capital less than 90 vH;

2.

the own resources available in accordance with Article 92 of Regulation (EU) No 575/2013 fulfil the requirement for own resources to be less than 90 vH;

3.

the cash resources available to the credit institution pursuant to Article 25 (1), which cover payment obligations which are callable in the same volume to less than 90 vH and which are covered by a cover for a period of at least one reporting period shall be considered;

4.

the liquidity coverage requirement for a period of at least one reporting period is no longer met in accordance with Article 412 (1) of Regulation (EU) No 575/2013 or is to be expected from the imminent occurrence of non-compliance;

5.

where there are no corrective measures taken, in particular where, in the case of a credit institution with a credit institution, an undercover is justified in accordance with Z 1 to 3 if no corrective measures are taken; Loss is to be expected and this could lead to the fact that the facts of the case are in accordance with Z 1 to 3.

In the examination of the requirements of an inventory risk, possible additional minimum own-resource requirements or additional liquidity requirements in accordance with § 70 (4a) Z 1 and 11 shall be taken into account.

(2) A system risk is present if it is to be assumed that the risk of stock of a credit institution in the concrete market situation has a significant negative impact on other companies in the financial sector (Art. 4 (1) (27) of Regulation (EU) No 575/2013), the financial stability of the financial system or the general confidence of depositors or other market participants in the functioning of the financial system. In particular, the following criteria shall be taken into account:

1.

The nature and extent of the credit institution ' s liabilities to other credit institutions and other entities in the financial sector (Art. Article 4 (1) (27) of Regulation (EU) No 575/2013;

2.

the extent of deposits received by a credit institution;

3.

the nature, extent and composition of the risks incurred by a credit institution, as well as the conditions on the markets where appropriate positions are traded;

4.

networking with other financial market participants;

5.

conditions in the financial markets, in particular the expected consequences of a collapse of the credit institution on other financial-sector undertakings, on the financial market, the confidence of depositors and of market participants in the functioning of the financial market and the real economy;

6.

the enforceability of the services and technical systems offered by a credit institution;

7.

the complexity of the transactions concluded by the credit institution with other market participants;

8.

the nature, scale and complexity of the cross-border transactions concluded by the credit institution as well as the enforceability of the services and technical systems offered across borders.

(3) The FMA has in the assessment of the stock and systemic risk (para. 1 and 2) to obtain an opinion from the Oesterreichische Nationalbank, to document the assessment made in writing, and to the Federal Minister of Finance, the Financial Stability Board and the CRR institutes, under the supervision of the Federal Government. To inform the relevant documents immediately.

Measures to limit systemic risk

§ 22a. (1) The financial market stability body shall establish changes in the intensity of systemic risk (§ 2 Z 41), which result in a crisis situation with significant negative effects on the national financial system and the real economy in the domestic sector. , and the Financial Stability Board shall adopt a recommendation for national measures pursuant to Art. 458 (4) (4). c of Regulation (EU) No 575/2013, the Financial Stability Board of the FMA recommends that appropriate measures be taken.

(2) The FMA is the competent authority for the purposes of Art. 130 (2) and 136 (1) of Directive 2013 /36/EU.

(3) On the basis of the recommendation in accordance with paragraph 1, the FMA may obtain an opinion from the Oesterreichische Nationalbank on the existence of systemic risk and, with the agreement of the Federal Minister of Finance, a regulation with effect for all or part of the regulated institutions and undertakings which may derogate from the following provisions of Regulation (EU) No 575/2013 for a period of up to two years in order to ensure that the changes noted in the intensity of the systemic risk:

1.

The own resources requirements laid down in Article 92 of Regulation (EU) No 575/2013;

2.

the requirements for large exposedments pursuant to Articles 392, 395 to 403 of Regulation (EU) No 575/2013;

3.

the disclosure requirements laid down in Articles 431 to 455 of Regulation (EU) No 575/2013;

4.

the capital conservation buffer in accordance with § 23;

5.

the liquidity requirements set out in Part 6 of Regulation (EU) No 575/2013;

6.

the risk weights in the credit risk standard rate and in the internal credit rating based on credit for residential real estate and commercial real estate;

7.

of risk weights for exposures consisting of institutions and companies within the financial sector.

If the FMA does not come up with the recommendation in accordance with paragraph 1, it shall justify this to the Financial Stability Board, in the presence of the relevant documents.

(4) The adoption of a Regulation of the FMA in accordance with paragraph 2 requires the following:

1.

The provision of the necessary evidence in accordance with Art. 458 (2) (2). (a) to (f) of Regulation (EU) No 575/2013 on the threat to financial stability at national level, including the measures provided for in paragraph 2 to the European Commission, the Council of the European Union, the European Parliament, the European Systemic Risk Board (ESRB) and the European Banking Authority (EBA) and;

2.

the completion of the necessary consultations with the European Commission, the Council of the European Union, the European Parliament, the ESRB and the EBA, in accordance with Article 458 of Regulation (EU) No 575/2013.

(5) The FMA shall review the measures laid down in accordance with paragraph 2 before the expiry of the time limit laid down in accordance with Article 458 (9) of Regulation (EU) No 575/2013. If the conditions for the application of the national measures provided for in paragraph 2 continue to be met, the FMA may, in compliance with the procedure laid down in Article 458 (4) of Regulation (EU) No 575/2013, the Regulation referred to in paragraph 2 if necessary, revise and extend the national measures by one year. Before extending these measures, the FMA has to seek a recommendation from the Financial Stability Board. If the FMA deviates from this recommendation, it shall justify this to the financial market stability body, in the light of the relevant documents.

(6) The Council of the European Union shall adopt a decision within the time limit laid down in Article 458 (4) of Regulation (EU) No 575/2013 which, in whole or in part, contradicts the measures prescribed in paragraph 2, the FMA has adopted the Regulation in accordance with Paragraph 2 shall be repealed or adjusted accordingly and the financial market stability body shall be immediately informed thereof.

(7) The FMA has to obtain an opinion from the National Bank of Oesterreichische Nationalbank (Oesterreichische Nationalbank) on the existence of the necessary evidence and requirements in the procedure referred to in paragraphs 3 to 5.

(8) FMA may apply the measures adopted by other Member States in accordance with Article 458 of Regulation (EU) No 575/2013 in accordance with Article 458 (5) to (7) of Regulation (EU) No 575/2013, with effect for branches of institutions, financial institutions and Companies with registered offices abroad according to § § 9 and 11 of Regulation (EU) No. 575/2013 according to Art. 458 of Regulation (EU) No. 575/2013 fully or partially acknowledge the criteria in accordance with Article 458 (4) of Regulation (EU) No. 575/2013. Prior to the recognition of such measures, the FMA has to obtain an opinion from the National Bank of Oesterreichische Nationalbank (Oesterreichische Nationalbank) and to obtain a recommendation from the Financial Stability Board (Financial Market Stability Board). If the FMA deviates from this recommendation, it shall justify this to the financial market stability body, in the light of the relevant documents.

(9) Regardless of the procedure referred to in paragraphs 1 to 7, the FMA may, after the necessary evidence has been issued, be required in accordance with Art. 458 (2) (lit). a to f of Regulation (EU) No 575/2013 and taking into account an advance period of 6 months by regulation for a period of up to two years:

1.

Reduce the large credit ceiling by up to 15 percentage points in accordance with Article 395 of Regulation (EU) No 575/2013; and

2.

Increase the risk weights for residential real estate and commercial real estate in the credit risk standard rate as well as in the internal ratings-based approach by up to 25 percentage points,

if these measures are appropriate to reduce systemic risk. Before adopting a regulation in accordance with Z 1 and 2, the FMA has to obtain an opinion from the Oesterreichische Nationalbank (Oesterreichische Nationalbank) and the approval of the Federal Minister of Finance.

Capital conservation buffer

§ 23. (1) Credit institutions have in addition to the hard core capital, which is to comply with the minimum requirement of own resources in accordance with Art. 92 of Regulation (EU) No. 575/2013 and to comply with an additional own resources requirement in accordance with § 70 (4a) Z 1 serves to keep a capital conservation buffer consisting of hard core capital. The capital maintenance buffer (§ 2 Z 41) shall be 2.5 vH of that total amount of receivment resulting from Article 92 (3) of Regulation (EU) No 575/2013.

(2) The FMA shall be the competent authority for the purposes of Article 129 (2) of Directive 2013 /36/EU.

Anticyclic Capital Buffer

§ 23a. (1) Credit institutions shall have in addition to the hard core capital, which is to comply with the minimum requirement of own resources in accordance with Article 92 of Regulation (EU) No 575/2013, to comply with an additional own resources requirement in accordance with § 70 (4a) Z 1 and in order to comply with the capital retention buffer in accordance with section 23 (1), it serves to keep an anti-cyclical capital buffer consisting of hard core capital. The countercyclical capital buffer shall have the total amount of exposure calculated in accordance with Article 92 (3) of Regulation (EU) No 575/2013, multiplied by the weighted averages of the capital buffer requirements for the countercyclical capital buffers, shall be appropriate. The Financial Stability Board may draw the attention of the FMA to pro-cyclically acting risks under Article 136 of Directive 2013 /36/EU and recommend that an anti-cyclical capital buffer be required in accordance with paragraph 3. If the FMA does not comply with this recommendation, it shall justify it to the Financial Stability Board, in the presence of the relevant documents.

(2) The FMA is the competent authority for the purposes of Art. 130 (2) and 136 (1) of Directive 2013 /36/EU.

(3) For the purposes of paragraph 1, the FMA may seek an opinion of the Oesterreichische Nationalbank and, taking into account relevant recommendations and guidelines of the European Banking Authority (EBA), the European Committee For systemic risks (ESRB), and with the approval of the Federal Minister of Finance by Regulation:

1.

The detailed design of the bases for the calculation of the capital buffer requirement of the countercyclical capital buffer as referred to in paragraph 1 in accordance with Article 140 of Directive 2013 /36/EU;

2.

quarterly the amount of the capital buffer requirement for the countercyclical capital buffer for institutions domesticated in Germany in accordance with Art. 136 of Directive 2013 /36/EU;

3.

whether capital buffers-requirements for the countercyclical capital buffer, determined by other authorities or competent third country authorities designated under Article 136 (4) of Directive 2013 /36/EU at a level of more than 2.5 vH, shall be subject to the conditions laid down in Article 137 of Directive 2013 /36/EU is recognised for the calculation of the anti-cyclical capital buffer for credit institutions approved in Austria;

4.

the level of the capital buffer requirement for the countercyclical capital buffer for third countries in the cases and in accordance with Articles 138 and 139 of Directive 2013 /36/EU.

(4) The FMA has the capital buffer requirement for the counter-cyclical capital buffer (para. 3 (2), giving at least the following information to the ESRB and making it known through publication on the Internet:

1.

The capital buffer requirement for the countercyclical capital buffer;

2.

the significant ratio between the volume of credit granted in Austria and the gross domestic product and its deviation from the long-term trend;

3.

the buffer guideline calculated in accordance with Article 136 (2) of Directive 2013 /36/EU;

4.

the justification for the fixed amount of the capital buffer requirement for the countercyclical capital buffer;

5.

in the case of an increase in the capital buffer requirement for the countercyclical capital buffer, the date from which the credit institutions shall make the higher capital buffer requirement for the countercyclical capital buffer to calculate their anticyclical the use of capital buffers;

6.

the exceptional circumstances justifying a shorter period of time for the application, if the date referred to in Z 5 is less than 12 months after the date of notification under this paragraph;

7.

in the case of a reduction in the capital buffer requirement for the countercyclical capital buffer, the period during which no increase in the capital buffer requirement for the data available for the to be expected, and the reasons for the adoption of this period shall be indicated;

8.

in the event of a derogation from a recommendation from the Financial Stability Board as referred to in paragraph 1, the reasons for the deviation from this recommendation.

The FMA shall take all steps necessary to coordinate the timing of the notification under this paragraph with other authorities designated pursuant to Article 136 (4) of Directive 2013 /36/EU.

(5) Where a capital buffer requirement for the countercyclical capital buffer is recognised by the Regulation referred to in paragraph 3 (3) (3), the FMA shall disclose at least the following information through publication on the Internet:

1.

The capital buffer requirement for the countercyclical capital buffer;

2.

the Member State or third country in which this capital buffer requirement applies;

3.

in the case of an increase in the capital buffer requirement for the countercyclical capital buffer, the date from which the credit institutions shall make the higher capital buffer requirement for the countercyclical capital buffer to calculate their anticyclical to apply capital buffers;

4.

the exceptional circumstances justifying a shorter period of time for the application, if the date referred to in Z 3 is less than 12 months after the date of notification of this paragraph.

Global System-relevant Institutes

§ 23b. (1) The FMA has an EU parent institution, an EU parent financial holding company, a mixed EU parent financial holding company, or an institution located in the country which does not have a subsidiary of an EU parent institution, a parent institution, a parent institution, a parent institution, a parent institution or a parent institution. EU parent financial holding company, or a mixed EU parent financial holding company, is to be considered as a Global System Relevant Institute (G-SRI) if it is assumed that a malfunction, an inventory risk or failure this institute leads to systemic risk (§ 2 Z 41) with global implications. The Financial Market Stability Board may point out the FMA to institutions in which the failure of these institutions can lead to systemic risks (§ 2 Z 41) with global implications, and recommend a capital buffer for global system-relevant to require institutions. If the FMA does not comply with this recommendation, it shall justify it to the Financial Stability Board, in the presence of the relevant documents.

(2) The FMA is the competent authority for the purposes of Art. 131 (1) of Directive 2013 /36/EU.

(3) The classification and updating of the classification of an institute or a holding company as a Global System-relevant Institute (paragraph 1). 1) and the amount of the capital buffer requirement (par. 5) is an FMA, taking into account the equally weighted indicators based on indicators, the size, interdependence of the credit institution group with the financial system, the enforceability of financial services or the financial infrastructure of a group of companies. The credit institution group, the complexity of the credit institution group and the cross-border activities of the credit institution group between Member States and between Member States and third countries shall be established by communication. The underlying methodology has to ensure the traceable assignment of Global System-relevant Institutes into individual subcategories, taking into account relevant European and international developments. In particular, the recommendations and directives of the European Banking Authority (EBA) and of the European Systemic Risk Board (ESRB) shall be taken into account.

(4) In the proceedings referred to in paragraphs 1, 3 and 5, the FMA has to obtain an opinion from the National Bank of Oesterreichische Nationalbank on the existence of the necessary evidence and requirements.

(5) Global system-relevant institutions have, in addition to the hard core capital, that to comply with the minimum requirement of own resources in accordance with Art. 92 of Regulation (EU) No 575/2013, to comply with an additional own-resource requirement in accordance with § 70 4a Z 1, in order to comply with the capital maintenance buffer in accordance with § 23 and to comply with the countercyclical capital buffer according to § 23a, serves to keep a capital buffer consisting of hard core capital on a consolidated level permanently. When determining the capital buffer in accordance with paragraph 2, the subcategory to which a Global System-relevant Institute is assigned shall be taken into account, a subsequent modification of the sub-category being possible. The decision to change the subcategory, which is assigned to a global system-relevant institute, and the reasons for which the FMA has to communicate to the European Banking Authority (EBA).

(6) For the purposes of paragraph 5, the FMA has, by means of a regulation with the agreement of the Federal Minister of Finance, the detailed design of the underlying methodology, quantifiable and qualifiable criteria for the respective subcategories, which are: The number of subcategories and the capital buffer requirements assigned to the respective subcategories, which are to be observed by the Global System-relevant Institutes. In particular, the recommendations and directives of the European Banking Authority (EBA) and of the European Systemic Risk Board (ESRB) shall be taken into account.

(7) Underlying a group of credit institutions on a consolidated level:

1.

a buffer requirement for global system-relevant institutes and for system-relevant institutes, it has to meet the higher capital buffer requirement;

2.

a buffer request for global system-relevant institutes, for system-relevant institutes, and for a system risk buffer (§ 23d), it has to meet the highest capital buffer requirement.

(8) Is an institute part of the credit institution group of a Global System-relevant Institute or of a system-relevant institute,

1.

, and paragraph 7 shall apply, the institution shall have to comply with a combined capital buffer requirement, which shall be the sum of the capital maintenance buffer, the anti-cyclical capital buffer and the higher the higher than the sum of the capital buffers in force for the institution. the capital buffer requirement from the capital buffer for system-relevant institutes and the system risk buffer at the individual institute level;

2.

, and paragraph 8 shall apply, this institution shall comply with a combined capital buffer requirement, which shall be the sum of the capital maintenance buffer, the anti-cyclical capital buffer, the capital buffer for system-relevant institutions applicable to the institution and the system risk buffer at the single-institute level.

(9) The FMA has a list of credit institutions and groups of credit institutions which are classified by the FMA as Global System-relevant Institutes or System-relevant Institutes, the European Commission, the European Banking Authority, the European Systemic Risk Board and the Financial Stability Board. The FMA has to update this list annually and to submit the updated list of the European Commission, the European Banking Authority, the European Systemic Risk Board and the Financial Stability Board.

System-relevant institutions

§ 23c. (1) The FMA shall have an EU parent institution, an EU parent financial holding company, a mixed EU parent financial holding company or an institution with domials as the system relevant institute (SRI), if it is to be assumed that a Malfunction or the failure of this institute leads to systemic risk (§ 2 Z 41). The financial market stability body may indicate the FMA to institutions whose malfunction or failure leads to systemic risk (§ 2 Z 41) and recommend that a capital buffer be required for systemically relevant institutions. If the FMA does not comply with this recommendation, it shall justify it to the Financial Stability Board, in the presence of the relevant documents.

(2) The FMA is the competent authority for the purposes of Art. 131 (1) of Directive 2013 /36/EU.

(3) The classification of an institution or a financial holding company as a system-relevant institution (paragraph 1). 1) and the amount of the capital buffer requirement (par. 5) is by the FMA, taking into account at least one of the criteria Size, importance for the European or Austrian financial sector, significant cross-border activities and interweaving of the credit institution group with the financial system , taking into account relevant European and international developments by means of communication. In particular, the recommendations and directives of the European Banking Authority (EBA), the European Systemic Risk Board (ESRB) should be taken into account.

(4) The FMA has to obtain an opinion from the National Bank of Oesterreichische Nationalbank (Oesterreichische Nationalbank) on the existence of the necessary evidence and requirements in the procedure referred to in paragraphs 3 to 5.

(5) By means of a regulation with the agreement of the Federal Minister of Finance, the FMA has, taking into account the respective systemic risk posed by these system-relevant institutes, the lasting compliance of a system with a to require capital buffers of hard core capital between 0vH and 2vH at a consolidated, sub-consolidated or individual institutional level, in addition to the hard core capital required to comply with the minimum resource requirement in accordance with Article 92 of Regulation (EU) No 575/2013, in order to comply with Additional own resources required in accordance with § 70 (4a) Z 1, for compliance with the capital maintenance buffer (§ 23) and for compliance with the countercyclical capital buffer (§ 23a). Buffer requirements for system-relevant institutions must not cause unduly negative effects on the financial market of the European Union or on the financial markets of other Member States.

(6) The FMA has to review the buffer requirements for system-relevant institutions at least once a year and, where appropriate, to adapt the Regulation in accordance with paragraph 5.

(7) The FMA has a month prior to publication (§ 69b Z 8) of a buffer request for system-relevant institutions of the European Commission, the EBA, the ESRB and others for macro-prudential supervision, which has been fixed for the first time or has been adapted for the first time. in the Member States concerned by a buffer requirement in accordance with paragraph 3, the following information shall be communicated:

1.

The assumptions that have led to a buffer requirement under paragraph 5 being considered as an effective and appropriate measure to address systemic risk (§ 2 Z 41);

2.

an assessment of the possible positive and negative effects of the buffer requirement in accordance with paragraph 5 on the internal market;

3.

The capital buffer requirement for system-relevant institutions that the FMA intends to set.

(8) Where a system-relevant institution is a subsidiary of a Global System-relevant Institute or a system-relevant institute which is an EU parent institution, the applicable individual or sub-consolidated level shall be: Capital buffer request is limited to 1vH or the capital buffer request to be applied to the Global System-relevant Institute or the System-relevant Institute at the consolidated level, depending on which capital buffer requirement is higher.

(9) In the case of a credit institution at the individual institutional level or on a part-consolidated basis of a capital buffer requirement for system-relevant institutions and a system risk buffer, it shall be subject to the higher capital buffer requirement.

System Risk Buffer

§ 23d. (1) The FMA may stipulate that an EU parent institution, an EU parent financial holding company, a mixed EU parent financial holding company, or an institution based in Germany, in addition to the hard core capital, which is required to comply with the Minimum mean requirement under Article 92 of Regulation (EU) No 575/2013, in order to comply with an additional own resources requirement in accordance with § 70 (4a) Z 1, to ensure compliance with the capital maintenance buffer in accordance with § 23 and to comply with the requirements of the anti-cyclical capital buffer under § 23a, a hard-core capital System risk buffer of at least 1vH has to be withheld. FMA may establish a system risk buffer in order to reduce or ward off long-term non-cyclical systemic risks (§ 2 Z 41) which are not covered by Regulation (EU) No 575/2013. Furthermore, the FMA may set a system risk buffer only if the risks under this paragraph are not sufficiently safe by other measures pursuant to this Federal Act or Regulation (EU) No 575/2013, except for Articles 458 and 459 of Regulation (EU) No 575/2013, or may be reduced or reduced. The Financial Market Stability Board may indicate the FMA to institutions and holding companies whose malfunction or failure leads to systemic risk (§ 2 Z 41) and recommend to prescribe a system risk buffer. If the FMA does not comply with this recommendation of the Financial Market Stability Board, it shall justify this to the Financial Stability Board, in the light of the relevant documents.

(2) The FMA shall be the competent authority for the purposes of Article 130 (1) of Directive 2013 /36/EU.

(3) For the purposes of paragraph 1, the FMA may obtain an opinion from the Oesterreichische Nationalbank and, with the approval of the Federal Minister of Finance, determine by regulation:

1.

The capital buffer requirement for the system risk buffer in accordance with Art. 133 of Directive 2013 /36/EU; requirements may be set for all or only for certain types of credit institutions;

2.

the credit institutions which have a system risk buffer;

3.

in accordance with Article 133 of Directive 2013 /36/EU, the geographical location of the exposures for which a system risk buffer is to be held;

4.

whether capital buffers-requirements for the system risk buffer, which apply in other Member States to the institutions authorised there, in accordance with Article 134 of Directive 2013 /36/EU, also by credit institutions authorised in Austria on the basis of The claims shall be applied in the Member State which has set the capital buffer requirement for the system risk buffer.

(4) If the FMA has established a capital buffer requirement for a system risk buffer by means of a Regulation as referred to in paragraph 2 (1), it shall make it known by publishing at least the following information by publication on the Internet:

1.

The amount of the capital buffer request of the system risk buffer;

2.

the credit institutions that have to hold the system risk buffer;

3.

a justification for the obligation to hold a system risk buffer;

4.

the date from which credit institutions shall be required to hold the system risk buffer fixed;

5.

the names of the States, provided that the claims in those States are taken into account in the calculation of the system risk buffer.

If the publication of the information in accordance with Z 3 could endanger the stability of the financial system in one or more Member States, a publication of the information referred to in Z 3 shall be maintained.

(5) In the event that a credit institution does not fully comply with the requirement laid down in paragraph 1, the distribution restrictions shall be applied in accordance with § 24. If, however, the hard core capital of a credit institution does not increase satisfactorly with regard to the relevant systemic risk (§ 2 Z 41), the FMA may take additional measures in accordance with § 70 (4a) to 4d.

(6) Is a system risk buffer (§ 23d) without prejudice to § 23c (9)

1.

to apply to all domestic claims, but not to claims abroad, the system risk buffer is different from paragraph 7 in addition to the capital buffer requirements for system-relevant institutes (§ 23c) or for global system-relevant institutions institutions (§ 23b);

2.

at the level of a single institution, which also refers to claims in other Member States or a third country, that institution must comply with a combined buffer requirement which, at least, is the sum applicable to that institution; Capital maintenance buffer, anti-cyclical capital buffer, and the request from the system risk buffer or the buffer for system-relevant institutions, depending on which of the last-mentioned buffer requests is higher.

Distribution restrictions

§ 24. (1) Credit institutions which fulfil the combined capital buffer requirement (§ 2 Z 45) have to refrain from distributions of hard core capital in accordance with paragraph 4 if such payouts would decrease their hard core capital to the extent that: that the combined capital buffer requirement would no longer be met.

(2) Credit institutions that do not meet the combined capital buffer requirement shall have to calculate the maximum eligible amount and report to the FMA. In such cases, credit institutions shall refrain from taking the following measures up to the date of notification of the maximum amount of distributable expenditure:

1.

Distributions linked to hard core capital in accordance with paragraph 4;

2.

to enter into obligations for the payment of variable remuneration or voluntary retirement benefits or to pay a variable remuneration if the corresponding obligation has been introduced during a period of time in which the credit institution the combined capital buffer requirement has not been met;

3.

to make payments in relation to instruments of the additional core capital.

The FMA has laid down the detailed rules for the calculation of the maximum eligible amount in accordance with Art. 141 (4) of Directive 2013 /36/EU by Regulation. As long as a credit institution does not meet the combined capital buffer requirement, it may take measures pursuant to paragraph 2 (2) (1) to (3) only up to the amount of the maximum payout amount.

(3) Credit institutions which do not comply with the capital buffer requirement and intend to make a distribution of eligible profits or a measure pursuant to paragraph 2 (1) (1) to (3) shall have the following information in the form of the FMA display:

1.

Own resources held by the credit institution, broken down by

a)

hard core capital,

b)

additional core capital,

c)

Supplementary capital;

2.

the level of intermediate profits and profits at the end of the year;

3.

the amount of the maximum amount to be paid out in accordance with paragraph 2;

4.

The amount of the distributable profits and their intended distribution

a)

Dividends-or other profit distributions,

b)

Repurchase or other repurchase of shares or other shares in Art. 26 para. 1 lit. a of Regulation (EU) No 575/2013 of capital instruments adopted by the credit institution;

c)

payments in connection with instruments of the additional core capital,

d)

Payment of variable remuneration or voluntary pension benefits, either on the basis of the introduction of a new payment obligation or of a payment obligation introduced during a period in which the credit institution shall: Combined capital buffer request has not been met.

Credit institutions must make arrangements to ensure that the amount of the profit-making profits and the maximum amount available can be calculated accurately and that, on request, the accuracy of the calculation at any time can be calculated can be detected in relation to the FMA.

(4) Tensions linked to hard core capital are:

1.

Dividends-or other profit distributions in cash;

2.

the issueof partial or fully paid bonuses or other in Art. 26 para. 1 lit. Equity instruments referred to in Regulation (EU) No 575/2013;

3.

the withdrawal or the repurchase of treasury shares or other shares in Art. 26 (1) (lit). a of Regulation (EU) No 575/2013 of capital instruments adopted by the credit institution;

4.

the repayment of the in connection with the in Art. 26 para. 1 lit. a of the equity instruments referred to in Regulation (EU) No 575/2013;

5.

the payout of Article 26 (1) lit. b to e of Regulation (EU) No 575/2013.

(5) The restrictions referred to in paragraphs 1 to 3 shall apply exclusively to disbursements leading to a reduction in the hard core capital or profits, and provided that the suspension of a payment or a missed payment is not a failure event. , or is a condition for the initiation of proceedings in accordance with the insolvency rules applicable to the credit institution.

Capital conservation plan

§ 24a. Credit institutions which do not meet the combined capital buffer requirement shall have a capital conservation plan within five working days after the credit institution has determined that it no longer meets the capital buffer requirement. in accordance with paragraph 2. At the request of a credit institution, the FMA may, taking into account the size and complexity of the transactions operated by a credit institution, extend the period to ten working days.

(2) The capital conservation plan shall include:

1.

A revenue and expenditure estimate and a balance sheet forecast;

2.

measures to increase the capital ratios of the credit institution;

3.

a plan and timetable for the increase of own resources in order to fully meet the combined capital buffer requirement;

4.

further information which the FMA considers necessary for the assessment required in paragraph 3.

(3) The FMA has to assess and approve the capital conservation plan if it considers that the implementation of the capital conservation plan will very likely generate or receive sufficient capital in order to ensure that the credit institution is the combined capital buffer requirement can be fulfilled within a period considered appropriate by the FMA.

(4) The FMA does not approve the capital conservation plan in accordance with para. 3, it shall:

1.

call on the credit institution to increase its own resources to a certain amount within a specified period; or

2.

to exercise its powers in accordance with Section 70 (4a) in order to order stricter than the distribution restrictions referred to in Article 24.

The FMA can also apply measures according to Z 1 and 2 cumulatively.

VI. Section: regulatory standards

1. Subsection: Liquidity

§ 25. (1) In accordance with Section 39 (3) and in accordance with a Regulation of the FMA pursuant to Section 39 (4) (7) of the FMA, credit institutions shall, as a minimum requirement, keep the first and second degree of liquid funds in accordance with the provisions of subsections 2 to 11. To the extent that this federal law does not regulate anything else, the specified running times are to be based on the remaining run times. In the determination of the remaining maturities, the expected retention period may be used in the categories of receivables and liabilities where there are deviant actual material maturities, if their calculation is based on: recognized rules of statistics.

(2) The following Euro commitments shall apply to the measurement of the liquid funds of the first degree:

1.

Deposits of credit institutions as well as deposits with the competent central institution with notice periods or maturities of less than 30 days, insofar as the latter serve to comply with paragraph 5;

2.

Deposits of natural and legal persons who are not credit institutions, with periods of notice or maturities of less than six months;

3.

Daily allowances, deposits and recorded funds of credit institutions with periods of notice or maturities of less than six months, in so far as they do not make claims against credit institutions with periods of notice of notice or periods of maturation of less than six months , with the exception of those which constitute liquid first-degree funds at the competent central institution; the term deposits are subject to purchase obligations arising out of repurchase agreements with credit institutions under six months, and Obligations arising from the issueof money-market certificates, which shall be made within the framework of six months; the claims shall be equal to sales obligations arising from repurchase transactions and claims arising from money market certificates which are due within six months; money market certificates issued by credit institutions debt securities which may only be traded between those credit institutions which have undertaken to sell these certificates only to credit institutions;

4.

obligations arising from repurchase agreements with natural or legal persons who are not credit institutions, with periods of notice or maturities of less than six months;

5.

Obligations arising from the adoption of a drawn and the exhibition of its own change.

(3) The euro commitments referred to in paragraph 2 shall be excluded:

1.

Obligations arising from the refinancing of current loans, to the extent that this is carried out in accordance with the rules of law;

2.

Obligations arising from the refinancing of loans under the Export Promotion Act, to the extent that these are in conformity with the rules of the fristonment;

3.

Commitments to the Oesterreichische Nationalbank and the European Central Bank;

4.

Obligations arising from coin savings deposits;

5.

structural savings;

6.

Commitments of own emissions, for which special cover values are ordered.

(4) Liquid first grades are:

1.

cash balances;

2.

Valuten in freely convertible currency;

3.

Tented or unmade precious metal;

4.

Credit at the Oesterreichische Nationalbank;

4a.

Credit to the European Central Bank and to other national central banks of the Member States participating in the third stage of Economic and Monetary Union, to the extent that such assets are used for the purpose of fulfilling the minimum reserves;

6.

Daily Euro balance at the Central Institute and Euro-Credit from the relevant Central Institute with periods of notice or maturities of less than 30 days.

7.

the minimum reserve held by a credit institution directly or through a parent credit institution of a group of credit institutions (§ 30).

(5) Liquid means of first degree are to be maintained in the calendar average. The average amount shall be calculated on the basis of the arithmetic average of the day-of-day commitments of the commitments referred to in Z 1 last month and on the 7th, 15th. and 23. of the previous month, in accordance with Z 2 on the last of the previous month and on the 7th, 15th and 23. of the current month or of the last business day preceding each. The following percentages are to be applied:

1.

50 vH of deposits with central institutions where such deposits are necessary for the fulfilment of the liquidity requirement of the first degree of another credit institution; the FMA may, by means of a regulation, be able to comply with this principle in accordance with the to change the extent of creditors ' protection;

2.

10 vH of the other obligations referred to in paragraph 2; the FMA may implement this principle within the range of 0 to 20 vH by means of a Regulation in each case in accordance with the requirements of the protection of creditor protection and the maintenance of the readiness to pay change to the extent necessary;

3.

in the case of Regulations pursuant to Z 1 and 2, account shall be taken of the economic interest in a functioning banking system and of sectoral circumstances.

(6) The following Euro commitments shall apply to the measurement of the second degree liquid funds:

1.

the obligations laid down in paragraph 2;

2.

Deposits and received funds from credit institutions with periods of notice or maturities from six months to less than 36 months, in so far as they do not meet claims against credit institutions with periods of notice of notice or periods of maturation from six months to under 36 months; paragraph 2 (Z) 3 shall apply mutatily;

3.

Deposits of natural or legal persons who are not credit institutions, with periods of notice or periods of maturation from six months to less than 36 months;

4.

own euro-emissions with periods of notice or maturities of up to 36 months;

5.

Obligations arising from repurchase agreements with natural and legal persons who are not credit institutions, with dates from six months to 36 months.

(7) The euro commitments referred to in paragraph 6 shall be excluded:

1.

Commitments on own emissions, for which specific cover values are ordered;

2.

Obligations arising from the refinancing of current loans, to the extent that this is carried out in accordance with the rules of law;

3.

Obligations arising from the refinancing of loans under the Export Promotion Act;

4.

Commitments to the Oesterreichische Nationalbank and the European Central Bank;

5.

Obligations arising from coin savings deposits;

6.

Savings deposits.

(8) Liquid second-grades are the following Euro-assets:

1.

Cheques;

2.

Debt securities due;

3.

Interest, share, and certificate of interest;

4.

fixed-rate securities issued by issuers having their registered office in Austria or another Member State which are admitted to a regulated market (Article 1 (2) of the Austrian Stock Exchange Act) as well as the refinancing of changes admitted to the Oesterreichische Nationalbank;

5.

Daily allowances and deposits at credit institutions with periods of notice or maturities of less than six months, in so far as they are not subject to obligations against credit institutions with maturities of less than six months and provided that they are not as liquid First-degree funds are included; credit institutions affiliated to a central institution which are not entitled to the settlement of the connection to the Central Institute in accordance with § 27a shall be subject to termination deposits with periods of notice or maturities of 30 days until under six months only as a liquid medium second degree if it is the competent central institute; (2) (3) shall apply mutatily;

6.

debt securities issued by banks of the European System of Central Banks;

7.

the amount by which the average liquidity of the first degree exceeds the amount required in accordance with paragraph 5;

8.

Federal Treasury bills issued by the Federal Minister of Finance within the framework of the authorization of the respective Federal Finance Act, which are not in accordance with paragraph 2 liquid funds of the first degree, the duration of which is six to 36 months;

9.

Co-ownership share in accordance with the Investment Fund Act 2011 in the amount of the return price if:

a)

the capital investment fund is only made up of liquid funds in accordance with paragraphs 4 and Z 1 to 8 and derivatives (§ 73 InvFG 2011) are used exclusively for the protection of the fund's assets;

b)

at the request of the unit holder, the share of the capital investment fund must be paid within 30 days against return of the share certificate, the certificate of return and the renewal rate;

c)

the lit. a corresponding composition of the capital investment fund and the return commitment of the share capital according to lit. b was published in the "Official Journal of the Wiener Zeitung" and the FMA and the Oesterreichische Nationalbank were displayed, and

d)

a publication in accordance with lit. e is not carried out;

e)

the intended release of one of those in the lit. (a) and (b) above, the FMA and the National Bank of Oesterreichische Nationalbank (Oesterreichische Nationalbank) have been published by the capital investment company at least six months before and published in the "Official Journal of the Wiener Zeitung".

(9) The second degree of liquid resources referred to in paragraph 8 shall not be included:

1.

securities coming from its own emissions;

2.

securities serving as cover or cover;

3.

the assets of third parties, other than the Oesterreichische Nationalbank and the European Central Bank, for securing the assets;

4.

Items of assets held by the Oesterreichische Nationalbank and the European Central Bank for security, unless a mandatory return claim is made;

5.

securities issued to pension providers in accordance with Section 50 (1) and (2) of the pension scheme;

6.

securities taken into retirement pursuant to Article 50 (1) and (2);

7.

Deposits used for the refinancing of loans, to the extent that they are excluded from the obligations referred to in paragraph 2 in the case of the refinanced bank.

(10) The second degree of liquid shall be at least 25 vH of the obligations laid down in paragraph 8 of the 15. of the same calendar month or of the last preceding business day. FMA may amend this set of hundreds within a range of 10 vH to 30 vH by regulation, if this is necessary in accordance with the monetary and credit policy conditions to maintain the willingness to pay. For the obligations laid down in paragraph 2, the percentage shall be reduced by the first degree for liquid funds set out in accordance with paragraph 5 (2).

(11) The FMA may supplement the first and second degrees of liquid means referred to in paragraphs 4 and 8 by means of a regulation by other values of the same liquid. In doing so, attention must be given to the economic interest in a functional banking system.

(12) By way of derogation from Article 1 (1), the term "credit institution" in paragraphs 2, 6 and 8 Z 5 of the first half-sentence shall include all credit institutions established in the domestic territory and in a CRR credit institution authorised in a Member State or third country, including their Branch offices.

2. Subsection: Company law

Conditional convertible debentures

§ 26. (1) Credit institutions in the legal form of a public limited liability company may issue bonds which, in their contractual terms, provide for conversion into hard core capital instruments in the event of a triggering event determined in advance, and the Conversion ratio in the case of forgiveness is determined or determinable (conditional convertible bonds). In addition, the provisions of Sections 159 and 174 of the German Stock Corporation Act (AktG) must be applied to these conditional convertible bonds.

(2) Credit institutions in the legal form of a cooperative may issue bonds which, in their contractual terms, provide for conversion into hard core capital instruments in the event of a triggering event determined in advance, and the Conversion ratio in the case of forgiveness is determined or determinable (conditional convertible bonds). For this purpose, the Cooperative has to obtain from the artists an indefinite and irrevocable declaration of accession for the case of the conversion.

Instruments without voting rights

§ 26a. (1) Credit institutions may issue instruments relating to capital shares without voting rights.

(2) In the case of a distribution of the profit, instruments referred to in paragraph 1 shall not apply to a multiple of the dividend of a share of a share or of the profit share of a voting right endowed with a voting right Co-operative part. A preferred amount to be repaid is not permitted in any case.

(3) Capital from the instruments referred to in paragraph 1 may only be reduced under an analogous application of the capital-reduction-law provisions, or drawn up in accordance with the provisions of section 26b.

(4) By means of a measure, the existing relationship between the assets of the beneficiaries of instruments as referred to in paragraph 1 and those with hard core capital (Art. 25 of Regulation (EU) No 575/2013), it is appropriate to compensate for this, with the exclusion of assets being excluded from the assets of the company.

(5) Authorized instruments of voting rights without voting rights can participate in the Shareholders ' Meeting and request information pursuant to § 118 AktG. Also in the case of savings banks, country mortgage banks and the Pfandbrief office of the Austrian country-mortgage banks, the beneficiaries of instruments pursuant to para. 1 shall be given the opportunity once a year to be provided by the directors of the credit institution in a meeting in which reports on the annual accounts are to be reported. The provisions of the German Stock Corporation Act on the convening of the Annual General Meeting are to be applied for the convening of such a meeting.

(6) The sum of the instruments referred to in paragraph 1 in its own credit institution, in a dependent undertaking and in a dominant company shall not exceed 10 vH of the instruments issued in accordance with paragraph 1. § § 65 to 66a of the German Stock Corporation Act (AktG) on the acquisition, disposal, confiscation, confiscation of treasury shares, the acquisition of treasury shares by third parties and the financing of the acquisition of shares in the company are to be applied.

(7) Instruments referred to in paragraph 1 may only be issued up to a third of the share capital. Moreover, the sum of the capital of instruments referred to in paragraph 1 and of preferred shares pursuant to Section 12a of the AktG may not exceed half of the share capital.

Recovery of own resources

§ 26b. (1) Capital according to Article 26a may be recovered by the credit institution in accordance with the following paragraphs after the approval of the FMA in accordance with Article 77 of Regulation (EU) No 575/2013. Recovery shall include all capital or individual tranches which have already been distinguished in the emission of the transaction. A partial recovery of capital from individual emissions, or partial recovery of capital from individual tranches, shall be permitted if the equal treatment of the beneficiaries is guaranteed from these capital emissions or tranches. An confiscation of only individual tranches of capital, which is based on the provisions of the Financial Stability Act (FinStaG), BGBl. I n ° 136/2008, require the prior consent of the beneficiary from the respective instruments. The Federal Minister of Finance, in agreement with the Federal Chancellor, has the approval of the Federal Government.

The decision on recovery shall be taken at the credit institution of institutions responsible for the acquisition of capital in accordance with paragraph 1, with the majorities necessary for the acquisition of capital as referred to in paragraph 1. The Articles of Association may authorise the Management Board for a maximum of five years for the collection of capital in accordance with paragraph 1.

(3) If the credit institution is a public limited company with listed shares and capital in accordance with § 26a, the confiscation shall be preceded by an offer for exchange in shares within six months prior to the publication of the confiscation. The notice of exchange offer shall contain an indication of the intended confiscation. In the case of this exchange offer, a surcharge shall not be fixed at a higher level than the difference between the average stock exchange rate of the share in question on the average stock exchange rate of the instruments referred to in paragraph 1 to that of the shares in question. Resolution on the exchange offer of twenty trading days preceding the exchange offer.

(4) The credit institution shall have the capital in accordance with paragraph 1 bar in the collection of the capital. If the compensation of beneficiaries is allowed, taking into account para. 5 of the capital referred to in paragraph 1, an appropriate cash payment shall be granted. In this case, § 2 para. 3 UmwG is to be applied in the same way as regards the reports to be drawn up, the examinations and the legal remedies of the persons entitled to settle, whereby the recovery plan shall be replaced by the conversion plan.

(5) The confiscation of own resources shall not be allowed in periods of tense financial and liquidation or if there is an inappropriate dilution of the other issued capital of other instruments.

(6) With the announcement of the decision in accordance with paragraph 2, the capital referred to in paragraph 1 shall be deemed to have been withdrawn. In this way, the right to cash settlement in accordance with paragraph 4 shall be exclusively entitled to the right to cash compensation in accordance with paragraph 1 of this article, taking into consideration the provisions of paragraph 5 In the contract notice, the beneficiaries of the capital referred to in paragraph 1 shall be informed of their rights to the severance of the severance. Documents issued via the capital referred to in paragraph 1 shall be withheld from the credit institution.

(7) If the amount of the severance payment for the capital referred to in paragraph 1 cannot be credited to an account or if the person entitled to the capital pursuant to paragraph 1 does not dispose of the amount of the funds, he/she shall be surreptitised to a trustee, who shall, in the decision to order the confiscation. The trustee is responsible for the further processing. In doing so, he can serve the support of the credit institution.

(8) The capital referred to in paragraph 1 shall be taken into account at the expense of the balance sheet profit resulting from the annual balance sheet or of a free reserve. Capital referred to in paragraph 1 may also be recovered if capital of the same or better quality is procured as a substitute.

Special provisions for credit unions

§ 27. In the cooperative contract, credit unions can stipulate that the liability of their members is limited to the business share (§ 86a GenG). The necessary modification of the Cooperative Treaty may only be decided if a auditor to be ordered under the Cooperative Review legislation confirms in a written opinion that the compliance with the Regulatory standards under Part 2 to 8 of Regulation (EU) No 575/2013 continue to be ensured. In addition, the limitation of liability to the business share § 33a GenG shall apply with the proviso that the direct understanding of known creditors pursuant to section 33a (1) of the last sentence of the GenG may not be accepted if the auditor in his opinion Declares that the limitation of liability to the business share is compatible with the interests of the creditors of the cooperative. The liability of the supervisor for the contents of his opinion is based on § 10 GenRevG 1997 in conjunction with § 62a.

Liquidity Alliance

§ 27a. Credit institutions affiliated to a central institution shall participate in a system of joint liquidity compensation in order to safeguard financial stability. For this purpose, they shall have a liquidity reserve of 10% of the savings deposits and 20 vH of the other euro deposits at their central institution or in another credit institution established by contract or statutorily established in a Member State, at most, however, to maintain 14 vH of the total euro deposits. The credit institution must be entitled to receive deposits and be suitable on the basis of its business structure to meet the requirements arising out of the guarantee of a cash-and-cash connection. In particular, it has sufficient credit standing and liquid funds as well as refinancing facilities have to be permanently available in order to be able to quickly provide liquidity support if necessary. The modalities of the specific performance relationship between the central institution or the other credit institution in which the liquidity reserve is held and the other credit institutions participating in the liquidity network shall be subject to the conditions of the payment of the liquidity reserve. to Article 39 (1) of the Treaty or to regulate the statutorily. In particular, the contractual or statutory provisions shall include:

1.

The conditions for the supply of liquidity to the affiliated credit institutions, if necessary;

2.

the detailed implementation of the obligation of the central institution or other credit institution, where the liquid assets are held, if necessary;

3.

the formation of will, in particular the decision-making requirements, in the relevant decisions;

4.

a period of notice, which must be at least one year.

The extent of the liquidity reserve shall be determined at the end of March, June, September and December according to the level of deposits, and shall be adjusted for the following quarter. If the deposits fall by more than 20 VH below the level of the last relevant calculation basis, the credit institution may request an adjustment to the next month's last. This liquidity reserve is one of the liquid resources of the first degree. Other deposits are daily payments due to payment transactions (sight deposits), all dismissal and fixed funds, as well as deposits against the issuance of cash register. "

83. Before the heading "Organ Stores" is the following heading of the 3. Subsection inserted:

" 3. Subsection: Institutions "

84. In § 28a the following paragraphs 2a to 2c are inserted:

" (2a) The managers shall ensure the establishment and supervision of the internal principles of sound management ensuring the necessary diligence in the management of the Institute and, in particular, the separation of duties in the organisation and prevention of conflicts of interest. Business managers shall regularly assess the effectiveness of these principles and take appropriate steps to remedy shortcomings.

(2b) The managers shall effectively monitor the work of senior management of the credit institution.

(2c) The Supervisory Board or the supervisory body otherwise responsible under the law or the statutes shall discuss with the Executive Board the strategic objectives, the risk strategy and the internal principles of sound management, and the To monitor implementation by the management. "

§ 28a (3) Z 2 reads as follows:

" 2.

The Chairman of the Supervisory Board has ordered economic circumstances and there are no facts from which doubts as to his personal reliability, sincerity and impartiality for the performance of the function are in doubt. as Chairman of the Supervisory Board; in the review of the reliability, the FMA shall also have access to the database established by the EBA pursuant to Article 69 (1) of Directive 2013 /36/EU; "

Article 28a (5) reads as follows:

" (5) Without prejudice to other provisions of the federal law and the requirements laid down in paragraph 3, members of the Supervisory Board or of the supervisory body otherwise competent in accordance with the law or the statutes shall have the following requirements permanently at a credit institution. meet:

1.

There is no grounds for exclusion in accordance with Section 13 (1) to (3), (5) and (6) of the Regulation in 1994 and none of the members of the Supervisory Board or any other legal entity other than a natural person on whose business one of the members of the Supervisory Board or of any other legal entity is responsible. Supervisory Board shall have a decisive influence or has been granted a bankruptcy, unless in the course of the bankruptcy proceedings it has come to the conclusion of a refurbishing plan which has been fulfilled; this shall also apply if one Comparable facts have been achieved abroad;

2.

the members of the Supervisory Board have an orderly economic situation and there are no facts from which doubt as to their personal reliability, sincerity and impartiality in the performance of their duties as a member of the Supervisory Board; in the review of the reliability, the FMA shall also have access to the database established by the EBA in accordance with Article 69 (1) of Directive 2013 /36/EU; "

3.

the members of the Supervisory Board shall, at all times, have sufficient knowledge, skills and experience to be able to jointly manage the activities of the respective credit institution, including related risks, to the extent that: understand that they are able to monitor and control the decisions of the management;

4.

Against members of the Supervisory Board who are not Austrian citizens, the State whose citizenship they have does not have any grounds for exclusion as a member of the Supervisory Board within the meaning of Z 1 and 2; this is due to the to confirm the banking supervision of the home country; however, if such a confirmation cannot be obtained, the member of the supervisory board in question shall make it credible to certify the absence of the grounds for exclusion and to provide for a to make a statement as to whether the grounds for exclusion are available;

5.

the members of the Supervisory Board apply sufficient time for the performance of their activities in the credit institution; in particular, a member of the Supervisory Board in the performance of further activities in a business-leading function or as a member of a Supervisory Board shall take into account the circumstances in the individual case and the nature, scope and complexity of the business of the credit institution; in so far as they have not been sent to the Supervisory Board as representatives of the Republic of Austria, Members of the Supervisory Board of credit institutions of any legal form whose balance sheet total one billion euros or issued the transferable securities admitted to trading on a regulated market pursuant to Section 1 (2) of the 1989 Stock Exchange Act, in total only one activity in connection with a business-leading function in connection with perform two activities as a member of a supervisory board or a total of four activities as a member of a supervisory board; for the calculation of the number of activities, a number of activities in the executive function and as a member are valid of a Supervisory Board

a)

within the same group consisting of the EU parent institution, its subsidiaries and its own subsidiaries or other undertakings which belong to the same group of credit institutions, to the extent that all of the above mentioned in the supervision of shall be included or subject to supplementary supervision in accordance with Section 6 (1) FKG;

b)

in the case of members of the same institution-related security system pursuant to Art. 113 (7) (lit). b of Regulation (EU) No 575/2013, or

c)

in the case of undertakings in which the credit institution holds a qualifying holding in accordance with Article 4 (1) (36) of Regulation (EU) No 575/2013

as just an activity. Activities in a business-leading role or as a member of a supervisory board in organizations that do not predominantly pursue commercial objectives are not included in the calculation. At the request of the FMA, the FMA may authorise an exceeding of this limit for an activity as a member of a supervisory board. The FMA regularly has to inform the EBA of such authorisations. "

(87) The following paragraph 6 is added to section 28a:

"(6) The credit institution shall have adequate human and financial resources to hold the training of the directors and members of the supervisory board or of the supervisory body otherwise competent in accordance with the law or the statutes." facilitate and ensure ongoing training. "

88. According to § 28a, the following § 28b and heading is inserted:

" Special obligations of the institutions in the case of credit

§ 28b. (1) Any large loan determined in accordance with Article 392 of Regulation (EU) No 575/2013 and amounting to at least EUR 500 000 shall, without prejudice to the effectiveness of the legal transaction, require the express prior consent of the Supervisory Board or otherwise provided for in Article 392 of Regulation (EU) No 575/2013. Law or Articles of Association of the credit institution's supervisory bodies. Decisions on stocks are inadmissible in this case. The Supervisory Board or the Supervisory Board of the Credit Institute which is otherwise responsible under the law or the Articles of Association shall report on each major credit at least once a year.

(2) In the case of large exposures within the meaning of Article 392 of Regulation (EU) No 575/2013 or at least EUR 750 000 in respect of claims within the meaning of Article 389 of Regulation (EU) No 575/2013, the Executive Director of the credit institution shall be admitted to: to allow such a credit to a customer or group of connected customers to disclose the economic conditions of the pledge and the harbor, and for the duration of the granting of such a loan, to the economic development of the Obligated and liable persons, as well as the value and enforceability of collateral to be informed and to request the current presentation of annual financial statements. In the event of non-submission of annual accounts, the Executive Director of the credit institution shall have sufficient information to be informed about the pleated and liable persons. The first and second sentences shall not apply to:

1.

Federal government, Länder, municipalities, local authorities with headquarters abroad, central banks, central governments, public sector bodies (Art. Article 4 (1) (8) of Regulation (EU) No 575/2013), international organisations or multilateral development banks,

2.

credit for credit institutions,

3.

fiduciary and continuous credit, to the extent that the credit institution carries only the risk of the Gestion; and

4.

Exposures to the EEA parent credit institution, its subsidiaries and its own subsidiaries, which are included in the supervision on a consolidated basis. "

89. § 29 with headline reads:

" Nomination Committee

§ 29. In credit institutions of any legal form whose balance sheet total exceeds EUR 1 billion, or which have issued transferable securities admitted to trading on a regulated market pursuant to Article 1 (2) of the 1989 Stock Exchange Act, the following shall be: The Supervisory Board or the Supervisory Board of the credit institution responsible for the law or the statutes shall establish a Nomination Committee. In the case of credit unions, the non-full-time Board of Management may also set up the Nomination Committee. The Nomination Committee shall:

1.

to identify candidates for vacancy in the management board and to submit appropriate proposals to the Supervisory Board;

2.

if legally stipulated for the respective legal form of the credit institution, to support the Supervisory Board in the preparation of proposals to the Annual General Meeting for the occupation of vacant posts on the Supervisory Board;

3.

to take into account the balance and diversity of the knowledge, skills and experience of all the members of the institution concerned, to draw up a description of the tasks of the applicant and to draw up a description of the tasks of the applicant in accordance with the tasks of Z 1 and 2; Indicate the amount of time required to do so;

4.

to set a target rate for the under-represented gender in the management and the supervisory board as part of its tasks according to Z 1 and 2, as well as to develop a strategy to achieve this goal; the target rate, the strategy and the progress of the implementation are in accordance with Art. 435 (2) (2). (c) to publish Regulation (EU) No 575/2013;

5.

In the course of its tasks pursuant to Z 1 and 2, ensure that the decision-making of the management or of the supervisory board is not carried out by a single person or a small group of persons in one of the interests of the credit institution are dominated by a contradicting way;

6.

regularly, in any case, when events indicate the need for re-evaluation, to carry out an assessment of the structure, size, composition and performance of the Executive Board and the Supervisory Board and, if necessary, to the Supervisory Board to submit proposals for amendments;

7.

, regularly, but at least annually, to carry out an assessment of the knowledge, skills and experience of both the directors and the individual members of the Supervisory Board and of the institution concerned in its entirety, and to to inform the Supervisory Board;

8.

to review the course of management with regard to the selection of senior management and to assist the Supervisory Board in preparing recommendations to the Executive Board.

In carrying out its tasks, the Nomination Committee may have recourse to all the resources it deems appropriate and shall be provided with adequate financial resources for this purpose by the credit institution. "

90. § 29a and title shall be deleted.

91. The title of the VI. Subsection is replaced by the following heading:

" 4. Subsection: Group view "

92. The following heading is inserted before § 30:

"Credit Institute Group"

Article 30 (1) of the entry section reads as follows:

" A group of credit institutions shall be located where a parent credit institution, a parent financial holding company or mixed financial holding company domicated in the territory of one or more credit institutions, in a Member State, or Third country CRR credit institutions, financial institutions, CRR financial institutions, investment firms, CRR investment firms or ancillary services providers (subordinated institutions) established in Germany or abroad "

Section 30 (1) Final section reads as follows:

' As financial institutions within the meaning of this provision, undertakings which are recognised as non-profit-making associations and undertakings which, pursuant to Article 2 (3) of Directive 2013 /36/EU, are permanently subject to the application of the rules applicable to credit institutions Policies are excluded. Central banks of Member States shall not be considered as financial institutions. "

Article 30 (2) reads as follows:

" (2) In addition to the first paragraph, a group of credit institutions shall be present when a parent financial holding company, mixed parent financial holding company, EU parent financial holding company or mixed EU parent financial holding company is established in a parent financial holding company. other Member States, and

1.

at least one credit institution having its head office is located in the territory of that company (par. 1 (1) to (7),

2.

the group, however, does not belong to a CRR credit institution authorised in a Member State, which has its registered office in the host Member State of the holding company concerned, and

3.

the credit institution having its head office has a higher annual balance sheet total than any other group member of CRR credit institution authorised in a Member State; if the balance sheet total is the same, it shall decide who has received the authorisation first.

If the classification as a group of credit institutions is inappropriate in view of the relative importance of the activities of a credit institution in Germany, the FMA may be subject to the application of the 1. and the second subparagraph shall, in accordance with Section 77b (4) (2), transfer the tasks and responsibilities to another authority. The FMA gives the EU parent company, the EU parent financial holding company, the EU parent mixed financial holding company, or the institution with the highest balance sheet total, an opportunity to comment before the adoption of the relevant decision on the matter. The FMA informs the European Commission and the EBA of a decision pursuant to Art. 111 (5) of the Directive 2013 /36/EU the decision taken. "

Article 30 (3) of the third sentence reads as follows:

" In this connection, Section 244 (4) and (5) of the UGB (UGB) must be applied with the proviso that in the cases referred to in paragraph 1 (1) (2) to (6), the obligation to consolidate is also without the existence of a participation

Section 30 (4) Z 2 reads as follows:

" 2.

the parent financial holding company or mixed parent financial holding company with its registered office in Germany is at the same time the parent institution of a CRR credit institution. "

Article 30 (7a) reads as follows:

" (7a) The requirements laid down in § 5 (1) Z 6 to 9 and § 28a (5) (1) to (4) are also applicable to the directors and members of the Supervisory Board in accordance with the differences in terms of business model and organisation. financial holding companies and mixed financial holding companies. "

99. § 30 (8), first sentence and second sentence are:

" The parent credit institution shall ensure the transmission of information and the exchange of information by the subordinated institutions, a parent financial holding company or mixed financial holding company. If the parent holding company does not comply with its obligation to provide information in accordance with paragraph 7, the parent credit institution shall indicate this to the FMA. "

100. In Section 30 (8a), after the word order "according to this federal law" the phrase "or under Regulation (EU) No 575/2013" inserted.

101. In Section 30 (9), the word group shall be "financial holding companies, credit institutions, investment firms, financial institutions or joint undertakings" through the word group "Financial Holding Companies, mixed financial holding companies, credit institutions, CRR credit institutions, investment firms, CRR investment firms, CRR financial institutions or financial institutions" replaced.

102. Section 30 (9a) and (10) shall read:

" (9a) A credit institution whose parent undertaking is an institution, a financial holding company or a mixed financial holding company established outside the European Union shall not be subject to supervision on a consolidated basis in accordance with Art. 16. of Regulation (EU) No 575/2013,

1.

the FMA has to examine whether this institution is subject to supervision on a consolidated basis by the competent authority of the third country and that such supervision complies with the principles of Article 18 of Regulation (EU) No 575/2013;

2.

if there is no equivalent supervision, the FMA shall apply the provisions of Article 18 of Regulation (EU) No 575/2013 to the credit institution. In such a case, the FMA, after consulting the competent authorities of a third country and the EBA, shall carry out such a review at the request of the parent undertaking, a company authorised in the Community or on its own initiative;

3.

if the application of this supervisory technique is appropriate and the competent authority of the third country agrees, the FMA may require a financial holding company or a mixed financial holding company to achieve the objectives of the supervision on a consolidated basis. financial holding company established in the European Union, and the provisions on consolidated supervision on the consolidated accounts of this holding company are applied. The application of this supervisory technique shall be notified by the FMA to the competent authorities of the third country, the European Commission, the EBA and the competent authorities of the other Member States concerned;

4.

In accordance with Article 127 (2) of Directive 2013 /36/EU, the FMA shall take into account general guidelines of the European Banking Committee (EBC) and shall consult the EBA before it decides.

(10) Documents and information referred to in paragraphs 7 and 9 shall include, in particular, the following areas of consolidation and the necessary collection, identification and evaluation of risks, both consolidated and in the case of individual institutions:

1.

Active and passive items as well as positions of the income statement,

2.

off-balance-sheet transactions (Annex I to Regulation (EU) No 575/2013),

3.

Derivatives (Annex II to Regulation (EU) No 575/2013),

4.

Own resources (Part 2 of Regulation (EU) No 575/2013),

5.

Large credit (Part 4 of Regulation (EU) No 575/2013) ) ,

6.

qualifying holdings (Part 2, Title IV of Regulation (EU) No 575/2013 ) ,

7.

Annual accounts, including the Annex and the management report,

8.

Credit registers and similar institutions abroad,

9.

foreign exchange positions,

10.

Positions that are included in the consolidation of a course, liquidity, interest rate or securities risk,

11.

Corporate governance (§ 39),

12.

credit institution-owned procedures for the evaluation of the capital adequacy (§ 39a),

13.

Disclosure requirements (Part 8 of Regulation (EU) No 575/2013),

14.

Liquidity (Part 6 of Regulation (EU) No 575/2013 ) and

15.

Leverage (Part 7 of Regulation (EU) No 575/2013) ). "

103. Section 30a, together with the headline:

" Credit institutions-Verbund

§ 30a. (1) National credit institutions which are permanently assigned to a credit institution with a registered office in the territory of the country as a central organization may, together with the central organization, form a credit institution group if:

1.

the central organisation is a credit institution in accordance with Article 1 (1), and

2.

the requirements of Article 9 (1) of Regulation (EU) No 575/2013 are met.

The credit institution network shall be established by the conclusion of a contract between the central organisation and the associated credit institutions. Such a contract shall be valid in all participating companies with the approval of the main or general assembly with the majority required to amend the Articles of Association. In addition, the companies have to adapt their statutes accordingly.

(2) A credit institution group is not a group of credit institutions in accordance with Section 30 (1).

(3) The formation of a credit institution-association shall be subject to the approval of the FMA; the central organization name of the central organisation and the associated credit institutions shall be eligible for application. The application shall be accompanied by documents setting out, in particular, the tax, control and risk management processes, the permanent fulfilment of the supervisory requirements by the network and other essential facts.

(4) In the event of the conditions set out in paragraph 1, the FMA has to approve the formation of the credit institution's association. The grant notice may contain conditions and conditions. The notification of authorisation shall be adopted within three months from the date on which the FMA has sent all the documents necessary for the assessment and information has been provided. The communication shall be sent to the central organisation. The notification to the central organization shall be deemed to be delivered to all members of the credit institution's association. The central organisation shall immediately inform all the credit institutions associated with the communication. The FMA may prescribe an appointment by which the intended formation of a credit institution must be completed.

(5) Changes in the composition of the members of the credit institution-association shall be notified in writing to the FMA, accompanied by the documents referred to in paragraph 3 above, by the central organization prior to its implementation. If the conditions set out in paragraph 1 are omitted or if the credit institution group is no longer in a position to comply with the supervisory requirements set out in paragraph 7, the FMA has to state that and from which point in time a Credit institution network no longer exists. The composition of the credit institution association and its modification shall be published on the Internet site of the central organisation. With regard to the removal of the conditions laid down in paragraph 1 or, if the credit institution network is no longer in a position to satisfy the supervisory requirements laid down in paragraph 7, this shall be notified in writing by the central organization of the FMA.

(6) The provisions of Sections 4 (3) and (4), 5 (1) (Z) 5, 10, 16, 23 to 24a, 25, 39 (2), 39a, 69 (3) and 70 (4a) to 4d and parts 2 to 4, as well as parts 5 to 8 of the Regulation (EU) No. 575/2013 no application. For the purposes of Article 405 (2) of Regulation (EU) No 575/2013, the central organisation shall be considered as an EEA parent credit institution and the associated credit institutions as subsidiary institutions. The associated credit institutions are exempted from the notification and reporting obligations (§ § 73 to 75), which are used exclusively for the monitoring of these provisions.

(7) The credit institution group shall comply with the provisions of § 39a and parts 2 to 4, as well as parts 5 to 8 of Regulation (EU) No 575/2013 on the basis of the consolidated financial situation. For this purpose, the Central Organisation has a consolidated financial statements (§ 59, § 59a). The central organisation for the credit institution network has to comply with the notification and reporting requirements applicable to higher-level credit institutions and credit institutions (§ § 73 to 75). For the purposes of § § 38, 39, 42, 69 (3) and 93a, as well as § 2 para. 3 ECEC and for the use of data (§ 4 Z 8 DSG 2000), the credit institution association shall be considered as a credit institution.

(8) For the purposes of full consolidation, the central organisation shall be treated as a parent institution and each associated credit institution shall be treated as a downstream institution. In this context, shareholders ' rights in affiliated institutions which are not held by the central organization or an associated institute shall be treated neither as foreign shares nor as shares of other shareholders in accordance with Section 259 (1) of the UGB, provided that the assigned credit institutions, directly or indirectly, by a majority of the voting shares in the central organisation. In the calculation of the majority of the voting shares, measures pursuant to Section 1 of the Financial Market Stability Act shall not be taken into account.

(9) For the purpose of measuring the costs of financial market supervision, the credit institution group shall be deemed to be a credit institution, and the central organisation shall be subject to a charge. The central organisation shall allocate and offset the costs of banking supervision in accordance with the calculation key of section 69a (2) on the associated credit institutions.

(10) The central organisation shall be responsible for compliance with the provisions of this Federal Law and Regulation (EU) No 575/2013, which shall apply to the credit institution network, and shall, in particular, have the following obligations under this obligation: To monitor the solvency and liquidity of the credit institution's credit institution on the basis of consolidated financial statements and of the credit institutions assigned to it. The central organization shall ensure that the directors of the associated credit institutions meet the requirements in accordance with § 4 (3) Z 6 and that the requirements are met in accordance with § 5 (1) Z 6 to 13 as well as that the credit institution network has administrative, accounting and control procedures for the collection, assessment, management and supervision of banking and banking risks and remuneration policies and practices. The right of instruction required for this purpose pursuant to Art. 9 (1) (lit). (c) of Regulation (EU) No 575/2013 of the Central Organisation shall be justified by the Treaty and the Statute. The associated credit institutions shall not be regarded as subsidiaries for the purposes of Articles 51 (2), 65 (5) of the last sentence and 66 AktG as a result of these right of instruction in relation to the central organisation. The central organization shall not be deemed to be the parent company of the associated credit institutions for the purposes of § 66a AktG on the basis of these rights of instructions. However, Section 70 (1) or Section 84 (1) of the German Stock Corporation Act (AktG) cannot be held against the right of instruction of the central organization.

(11) The credit institution group shall be entitled to carry out its activities in the Member States through a branch or by means of the freedom to provide services by the central organisation or by individual associated credit institutions, to the extent that: the activities are covered by the concession of the central organisation or the associated institutes concerned. The advertisements referred to in § 10 (2), (5) and (6) shall be the responsibility of the central organisation, which shall also indicate the credit institutions of the credit institution's association with the activities carried out. § 16 shall apply to the credit institution network.

(12) The provisions of Article 400 (2) of Regulation (EU) No 575/2013 and § § 5 (1) Z 9a, 23b, 23c, 28a, 29, 30 (7), 8 first sentence and (10), 70 (1), 4a to 4d and 77c are to be applied to a credit institution network with the proviso that: the central organisation is considered as a parent institution and the credit institution group is considered a group of credit institutions. Section 77c shall apply to a credit institution network subject to the proviso that the central organisation shall be regarded as the parent institution and the credit institution group as a group of credit institutions, provided that either the central organisation or a group of credit institutions is responsible for the credit institutions ' group. assigned an institute within the meaning of § 30 (1) and (2), having its head office abroad.

(13) For credit institutions and credit institution's allies, as amended by § 30a in the version before the BGBl. I n ° 184/2013, the authorization referred to in paragraph 3 shall be deemed to have been granted. "

104. In accordance with § 30a, the following § § 30b to 30d together with the headings are added:

" Exemption from the application of the own resources requirements on a single basis

§ 30b. (1) The exemption of group-affiliated credit institutions and investment firms in accordance with Article 7 of Regulation (EU) No 575/2013 at the institute's specific level shall require the approval of the FMA.

(2) The application of a credit institution, an investment firm or a parent undertaking for an exemption pursuant to paragraph 1 shall be accompanied by appropriate documents relating to the existence of the conditions for an exemption under Art. 7 of the Regulation (EU) No 575/2013.

(3) In the proceedings referred to in paragraph 1, the FMA has to obtain an opinion from the National Bank of Oesterreichische Nationalbank on the existence of the conditions laid down in Article 7 of Regulation (EU) No 575/2013.

(4) The authorization for the exemption provided for in paragraph 1 shall be granted if the fulfilment of the requirements pursuant to Article 7 of Regulation (EU) No 575/2013 is sufficiently demonstrated.

(5) Credit institutions, investment firms referred to in paragraph 1 above, or parent parent undertakings shall immediately in writing have the FMA and the Oesterreichische Nationalbank in writing the omission of one or more of the conditions laid down in Article 7 of Regulation (EU) No 575/2013 and the failure to comply with the conditions and conditions laid down in the case in order to ensure such conditions and to submit a plan stating that the above requirements shall be met within a reasonable period of time. Time period is again observed. The FMA has to withdraw the authorization provided for in paragraph 1 if one of the conditions laid down in Article 7 of Regulation (EU) No 575/2013 is no longer available.

Exemption from the application of liquidity requirements on a single basis

§ 30c. (1) The exemption of group-affiliated credit institutions and investment firms and of credit institutions and investment firms, the institution-related security schemes (Art. In accordance with Article 8 of Regulation (EU) No 575/2013, and under Article 8 of Regulation (EU) No 575/2013, the approval of the FMA is required as a result of the monitoring as a subgroup of liquidity.

(2) The application of a credit institution, an investment firm or a parent parent company for an exemption pursuant to paragraph 1 shall be accompanied by appropriate documents relating to the existence of the conditions for an exemption pursuant to Article 8 of the Regulation (EU) No 575/2013.

(3) In the proceedings pursuant to paragraph 1, the FMA has to obtain an opinion from the National Bank of Oesterreichische Nationalbank on the existence of the conditions laid down in Article 8 of Regulation (EU) No 575/2013.

(4) The authorization for the exemption provided for in paragraph 1 shall be granted if the fulfilment of the requirements laid down in Article 8 of Regulation (EU) No 575/2013 is sufficiently demonstrated.

(5) Credit institutions, investment firms referred to in paragraph 1 or parent companies of the parent companies shall, without delay, in writing, have the FMA and the Oesterreichische Nationalbank in writing the omission of one or more of the conditions laid down in Article 8 of Regulation (EU) No 575/2013 and the failure to comply with the conditions and conditions laid down in the rules to ensure such conditions and to submit a plan stating that the above requirements shall be met within a reasonable period of time. Time period is again observed. The FMA has to withdraw the authorization provided for in paragraph 1 if one of the conditions laid down in Article 8 of Regulation (EU) No 575/2013 is no longer available.

Supervision of mixed financial holding companies

§ 30d. (1) In so far as a mixed financial holding company according to § 2 Z 15 Financial Conglomerategesetz-FKG, BGBl. I n ° 70/2004, in particular with regard to risk-based supervision, equivalent provisions of this Federal Act or of Regulation (EU) No 575/2013 and the FKG, the FMA may act as a consolidating supervisor Consultation with the other authorities responsible for supervision shall decide that only the relevant provisions of the FKG shall be applied at the level of this mixed financial holding company.

(2) Into the extent that a mixed financial holding company, in particular with regard to risk-oriented supervision, is subject to equivalent provisions of this Federal Law or Regulation (EU) No 575/2013 and the VAG, the FMA may be deemed to be The consolidated supervisory authority, in agreement with the group supervisor for the insurance industry, decides that only the provision of the Insurance Supervision Act, BGBl. I No 569/1978, or this Federal Act or Regulation (EU) No 575/2013, to be applied at the level of this mixed financial holding company, depending on the financial sector in accordance with § 2 Z 7 FKG with the higher average share is represented.

(3) The FMA, as the consolidating supervisor of the EBA and the European Insurance and Occupational Pensions Authority (EIOPA) (Regulation (EU) No 1094/2010 establishing a European Supervisory Authority) (European Insurance and Occupational Pensions Authority), amending Decision No 716 /2009/EC and repealing Commission Decision 2009 /79/EC, OJ L 145, 31.7.2009, p. No. 48) shall notify any decisions referred to in paragraphs 1 and 2 of this Article.

(4) If a subsidiary of an institution, a financial holding company in accordance with Article 4 (1) (20) of Regulation (EU) No 575/2013 or a mixed financial holding company, is not included in the supervision on a consolidated basis , the FMA may ask the competent authorities of that Member State in which the subsidiary is established to provide all information which will facilitate effective supervision. "

105. In Article 39 (2), the following third sentence shall be inserted after the second sentence:

"The organisational structure as well as the administrative, accounting and control procedures shall be documented in a written and comprehensible manner."

106. Section 39 (2b) reads as follows:

" (2b) The procedures referred to in paragraph 2 shall take particular account of:

1.

credit risk and counterparty default risk,

2.

the concentration risk,

3.

the market risk,

4.

the risk of excessive indebtedness,

5.

the operational risk,

6.

the securitisation risk,

7.

the liquidity risk,

8.

the interest rate risk in respect of all transactions that are not already covered by Z 3;

9.

the residual risk from credit risk-inflicting techniques,

10.

the risks arising from the macroeconomic environment,

11.

the risk of money laundering and terrorist financing;

12.

the risk that arises from the business model of an institute, taking into account the effects of diversification strategies,

13.

the results of stress tests at institutions using internal approaches, and

14.

the systemic risk (§ 2 Z 41), which emanates from an institute. "

107. In Article 39 (2c), the following sentence is added:

" When considering credit risk, the appropriateness of the approaches used by a credit institution to record credit risks, taking into account the nature, scope and complexity of the credit institution's credit risk, is also: "To judge business."

108. In accordance with Article 39 (2c), the following paragraph 3 is inserted:

" (3) Credit institutions

1.

to ensure that they are able to meet their payment obligations at any time;

2.

to set up a company-specific financial and liquidity planning that corresponds to the banking experience;

3.

to provide sufficient liquid resources for the compensation of future imbalances in the payment and payment transactions,

4.

have arrangements for the supervision and control of the interest rate risk of all transactions,

5.

, in accordance with the maturity structure of its assets and liabilities, in particular, to design interest-rate adjustment and dismissal opportunities in such a way as to take into account possible changes in market conditions, and

6.

to provide documents on the basis of which the financial situation of the institution of the credit institution can be determined at any time with sufficient accuracy; these documents shall be provided with appropriate commentaries at the request of the FMA "

109. Section 39 (4) reads as follows:

" (4) The FMA has to lay down minimum requirements for the proper collection, control, monitoring and limitation of the types of risk referred to in paragraph 2b by regulation. The Regulation has as regards:

1.

the credit risk and the counterparty default risk Art. 79 Directive 2013 /36/EU,

2.

concentration risk Art. 81 of Directive 2013 /36/EU,

3.

of market risk Art. 83 of Directive 2013 /36/EU,

4.

the risk of excessive indebtedness Art. 87 of Directive 2013 /36/EU,

5.

the operational risk Article 85 of Directive 2013 /36/EU,

6.

of the securitisation risk Art. 82 of Directive 2013 /36/EU),

7.

of the liquidity risk Art. 86 of Directive 2013 /36/EU, taking into account the criteria of § 39 (3),

8.

the interest rate risk in respect of all transactions which are not already covered under Z 3 Article 84 of Directive 2013 /36/EU and in respect of

9.

Residual risk from credit risk-inderating techniques Article 80 of Directive 2013 /36/EU

shall be appropriate. With regard to those aspects of this Regulation which deviate from the above-mentioned provisions or stipulate additional requirements, the Federal Minister for Finance shall be required to obtain the agreement of the Federal Minister for Finance. "

110. In Article 39, the following paragraph 5 is added:

" (5) In credit institutions of any legal form whose balance sheet total exceeds one billion euros or which have issued transferable securities admitted to trading on a regulated market pursuant to Article 1 (2) of the 1989 Stock Exchange Act, a to set up a risk management department, independent of the operational business, with direct access to the business managers, whose skills and resources ensure the performance of the following tasks:

1.

Identification and measurement of the exposure of risks as referred to in paragraph 2b,

2.

notification of the risks referred to in paragraph 2b and of the risk situation to the managers,

3.

participation in the elaboration of the credit institution's risk strategy and all key risk management decisions;

4.

a complete overview of the existing risk types and the risk situation of the credit institution.

At the top of the risk management department is a management force that is specifically responsible for this function. If the nature, scope and complexity of the Institute's operations do not justify naming a person solely for this purpose, a different executive of the Institute may perform this function, provided that there is no conflict of interest. The head of the risk management department cannot be relieved of his office without the prior information of the Supervisory Board. "

111. Section 39c (2) reads as follows:

" (2) The tasks of the Compensation Committee include the preparation of decisions relating to remuneration, including those which affect the risk and risk management of the credit institution concerned and which are carried out by the Supervisory Board or otherwise. , as well as the monitoring of remuneration policies, remuneration practices and remuneration-related incentive structures, in relation to the control, monitoring and limitation of remuneration policies, risks in accordance with § 39 (2b) (1) to (10), the own resources and liquidity, taking into account also the long-term interests of shareholders, investors and employees of the credit institution, as well as the economic interest in a functioning banking system and financial stability. "

112. Section 39c (3) reads as follows:

" (3) The composition of the Remuneration Committee shall be an independent and integral assessment of these issues. The Remuneration Committee is composed of at least three members of the Supervisory Board, with at least one person having expertise and practical experience in the field of remuneration policies (remuneration expert). In the case that according to § 110 Labour Constitution Act (ArbVG), BGBl. No 22/1974, if one or more employees 'representatives are to participate in the Supervisory Board of the credit institution, the remuneration committee shall have at least one member from the circle of employees' representatives. In the case of credit institutions whose balance sheet total is less than five billion euros, the function of the remuneration expert can be exercised by an expert who is not members of the Supervisory Board. The chairman of the remuneration committee or remuneration expert must not be the person who, for the last three years, has been a business manager or a senior employee (§ 80 of the German Stock Corporation Act) of the credit institution concerned or, for other reasons, is not independent and has not been appointed as a member of the Board of Management. is uncommon. "

113. In accordance with § 39c, the following § 39d and heading is inserted:

" Risk Committee

§ 39d. (1) In credit institutions of any legal form whose balance sheet total exceeds EUR 1 billion, or which have issued transferable securities admitted to trading on a regulated market pursuant to Article 1 (2) of the 1989 Stock Exchange Act, the The Supervisory Board or the Supervisory Board of the credit institution responsible for establishing the law or the articles of association shall establish a risk committee.

(2) The tasks of the Risk Committee shall include:

1.

advising the management with regard to the current and future risk-taking and risk strategy of the credit institution,

2.

the monitoring of the implementation of this risk strategy in relation to the management, monitoring and limitation of risks in accordance with Article 39 (2b) (1) to (14), own resources and liquidity,

3.

To verify whether the pricing of services and products offered by a credit institution adequately takes into account the business model and risk strategy of the credit institution and, where appropriate, to submit a plan with a view to: Remedial action

4.

without prejudice to the tasks of the remuneration committee, whether the incentives offered by the internal remuneration system take into account the risk, capital, liquidity and probability and the timing of realised gains.

(3) The composition of the Risk Committee shall enable an independent and integral assessment of the risk strategy of the credit institution. The Risk Committee shall consist of at least three members of the Supervisory Board, which shall have the expertise and experience required to monitor the implementation of the credit institution's risk strategy. The Chairman of the Risk Board shall not be the person who, over the last three years, has been a business manager or senior employee (§ 80 AktG) of the credit institution concerned or is not independent and uncaught for other reasons. A representative of the risk management department (§ 39 para. 5) has to participate in the meetings of the Risk Committee and to report on risk types (§ 39 paragraph 2b) and the risk situation of the credit institution. In doing so, it has to draw attention to risky developments that may affect or have an impact on the credit institution.

(4) The risk committee shall hold at least one meeting in the year. "

114. Section 40 (2) reads as follows:

" (2) The credit and financial institutions shall require the customer to disclose whether he/she has the business relationship (paragraph 1). 1 Z 1) or the transaction (par. 1 Z 2) on own or foreign invoice or in a foreign contract, which shall comply with the request, and shall immediately disclose any changes in this respect during an upright business relationship. If the customer announcates that he/she has the business relationship (par. 1 Z 1) or the transaction (par. 1 Z 2) on foreign invoice or in the case of a foreign contract, he shall also have to prove the identity of the creditor to the credit or financial institution and the credit and financial institutions shall have the identity of the trustee to be identified and verified. The identity of the trustee shall be determined in accordance with paragraph 1, exclusively in the case of the physical presence of the trustee. An identification of the trustee by third parties is also excluded. The identification and verification of the identity of the trustee shall be carried out in the case of natural persons by presenting the original or a copy of the official photo ID (par. 1) of the trustee shall be effected in the case of legal persons by means of convicted documents in accordance with paragraph 1. The trustee shall also make a written statement to the credit or financial institution that he or she has personally or through reliable guarantees convinced of the identity of the trustee. Reliable persons in this sense are courts and other public authorities, notaries, lawyers and third parties within the meaning of paragraph 8. In the case of special other accounts of authorized real estate managers for property owners ' communities, the trustee identity of co-owners, who are natural persons, shall be considered as the basis for the presentation of the basic booking. "

115. § 42 (4) (2) and (6) are deleted.

116. In Section 42 (6) (3), the point at the end is replaced by a line point and the following Z 4 is added:

" 4.

whose balance-sheet total does not exceed EUR 1 billion and which are subordinated to an EU parent credit institution or a parent credit institution in a Member State pursuant to Article 30 (1) (1) to (6) if the EU parent credit institution or the parent credit institution is a parent credit institution in a Member State; The parent credit institution in a Member State has its own organisational unit for internal audit, which is endowed and organised under the current consideration of para. 2 and the supervisory and control possibilities of FMA and Oesterreichische Nationalbank will not be affected by this. "

117. In § 43 (1), the second is 2. Record:

" The provisions of the third book of the UGB, with the exception of Sections 223 (6), 224, 226 (5), 227, 231, 232 (5), (5), (5), (5), (5), 227, 231, 232 (Z), are applicable to the annual accounts, the consolidated financial statements, the management reports and the group management reports and 1.3,4 and 9, 242, 244 (6), 246, 249 (1), 266 (1) and (3), 275 (2), (278), (279) and (280a). "

118. The following paragraph 3 is added to Article 43:

"(3) By way of derogation from § 1 (1), the term" credit institution "in § § 51 to 54, in § 59 and in Appendix 2 to § 43, includes all credit institutions with registered offices in Germany and a CRR credit institution authorised in a Member State or third country."

119. In § 57 (1), the reference "§ 201 para. 1 Z 4" by reference "§ 201 para. 2 Z 4" and the term "HGB" in each case by the term "UGB" replaced.

120. The following paragraph 5 is added to Section 57:

" (5) The credit institutions shall be in a position of detention. This amounts to 1 vH of the tax base in accordance with Art. 92 (3) lit. a of Regulation (EU) No 575/2013. Credit institutions identifying their own resources requirements for market risk as referred to in Part 3, Title IV of Regulation (EU) No 575/2013, shall have a tax base of 12 ,5-fold the own resource requirement for the position risk (Part 3, Title IV). Chapter 2 of Regulation (EU) No 575/2013). A dissolution of the detention order may only take place in so far as this is necessary for the fulfilment of obligations pursuant to § 93 or to cover other losses to be issued in the annual accounts. The replenials shall be refilled to the extent of the dissolved amount, at the latest within the following five financial years. The allocation and dissolution of the detention order shall be shown separately in the profit and loss account. "

121. In Section 59 (3), the term " "HGB" by the term "UGB" replaced.

122. In Section 59 (7), the word group shall be "Banking-related ancillary services according to § 2 Z 27" through the word group " Provider of ancillary services pursuant to Art. 4 (1) Point 18 of Regulation (EU) No 575/2013 " replaced.

123. § 59a reads as follows:

" § 59a. A parent credit institution which sets up a consolidated financial statements in accordance with internationally recognized accounting principles in accordance with § 245a (1) or (2) of the UGB shall comply with the requirements of Section 245a (1) and (3) of the UGB and the information provided in accordance with § 64 (1) to (1) to (19) and (2) in the context of the Group's annex. "

124. In Section 60 (1), the reference to section 59a (1) becomes " each by a reference to " § 59a ".

125. In Section 60 (3), the term " "HGB" by the term "UGB" replaced.

126. In Section 61 (2), the term " "HGB" by the term "UGB" replaced.

127. In § 62 Z 1a, the reference to "§ 63a (4) to (6a)" by a reference to "§ 63a (4) to (6)" replaced.

128. § 62 Z 6a reads as follows:

" 6a.

An exclusion ground pursuant to Section 271a of the German Commercial Code (UGB) is available, but only Section 271a (3) of the German Commercial Code (UGB) is to be applied to the Examination Office of the Savings Banks Examination Association, with the proviso that the signature of the confirmation note alone does not apply to the Exclusion Reason; "

129. In § 62 Z 17, the line point at the end is replaced by a point.

130. In § 62a the term "HGB" by the term "UGB" replaced.

131. In § 63 (2) and (3a), the term " "HGB" by the term "UGB" replaced.

132. Section 63 (3) reads as follows:

" (3) When the audit activity is carried out by the bank auditor, the facts are determined by the

1.

establish a reporting obligation pursuant to Section 273 (2) of the UGB; or

2.

the fulfilment of the obligations of the credit institution under threat, or

3.

a substantial tightening of the risk situation; or

4.

Major violations of this Federal Act, Regulation (EU) No 575/2013, or other statutory or other regulations governing the supervision of banks, or the Federal Minister of Finance or the FMA or the Federal Minister of Finance, or

5.

Essential balance sheet items or off-balance sheet items as non-valued

He shall have reasonable doubts as to the accuracy of documents or to the declaration of completeness of the board or if a failure or limitation of the confirmation of the confirmation is effected, he shall have such facts without prejudice to § 273 (2) of the UGB with explanations immediately to the FMA and the Oesterreichische Nationalbank in writing. If the bank auditor finds other defects, non-worrying changes in the level of risk or the economic situation, or only minor breaches of rules, and the deficiencies and breaches of rules shall be short-term The bank examiner of the FMA and the Oesterreichische Nationalbank must report only if the credit institution does not rectify the deficiencies found within a reasonable period, but within three months, and the relevant information is not fixed within a reasonable period of time. Bank examiner has proven. Reports shall also be reported if the directors do not properly grant any information requested by the bank examiner within a reasonable period of time. Bank auditors ordered by an audit association shall have reports under this paragraph on the audit association which shall forward them without delay. In cases where an accounting firm is appointed as a bank auditor, the reporting obligation shall also be subject to the natural persons made known pursuant to section 88 (7) WTBG. Without prejudice to the obligations laid down in § 273 (2) of the UGB, a report under this paragraph shall also be submitted to the Supervisory Board or otherwise competent pursuant to the law or the statute of the FMA and the Oesterreichische Nationalbank (Oesterreichische Nationalbank). Supervisory body of the credit institution. "

133. § 63 (4) Z 2, 3, 6 and 9 are:

" 2.

compliance with § § 21, 25, 27a, 30 to 30c, 73 (1) and 75 of this Federal Act and Part 1 to 8 of Regulation (EU) No 575/2013;

3.

compliance with the other provisions of this Federal Law, of Regulation (EU) No 575/2013 and of other legislation which is essential to credit institutions;

6.

in the case of credit institutions applying Part 3, Title I, Chapter 3 of Regulation (EU) No 575/2013,

a)

the criteria for determining qualified assets;

b)

the procedures for determining the market price, taking into account Art. 105 Regulation (EU) No 575/2013;

c)

the approach to the evaluation of options, in particular the definition of volatilities and the other parameters for determining the delta factor in accordance with Art. 377 of Regulation (EU) No 575/2013;

d)

the identification of any other risk-related risks referred to in Part 3, Title IV of Regulation (EU) No 575/2013;

9.

in the case of credit institutions which determine the minimum capital requirement for the operational risk referred to in Part 3, Title III, Chapter 3 of Regulation (EU) No 575/2013: compliance with the conditions laid down in Article 320 of Regulation (EU) No 575/2013; "

134. Section 63 (4) (7) is deleted.

135. In § 63 (4), the following Z 10 to 11 shall be added:

" 10.

compliance with the requirements laid down in Article 49 (3) lit. a sublit. v of Regulation (EU) No 575/2013 for institute-related security systems, which apply Article 49 (3) of Regulation (EU) No 575/2013;

11.

the admissibility and accuracy of netting agreements as well as the fulfilment of the conditions laid down in Article 296 (3) of Regulation (EU) No 575/2013. "

136. In § 63, the following paragraph 4a is inserted after the following paragraph:

" (4a) The audit carried out by the bank auditor of a central institution shall also include:

" 1.

the consolidated balance sheet in accordance with Article 49 (3) (3). a sublit. (iv) of Regulation (EU) No 575/2013 applying the provisions of Article 49 (3) of Regulation (EU) No 575/2013 to institutions-related safeguards;

2.

the report pursuant to Art. 113 (7) (lit). e Regulation (EU) No 575/2013;

where the audit result of the FMA is to be submitted at the same time as the report on the audit of the annual accounts of the Central Institute. "

137. In Section 64 (1), after the word group "§ § 236 to 240" the word group "and 265" inserted.

138. In Section 64 (1) (15), the point at the end is replaced by a stroke, and the following Z 16 to 19 are added:

" 16.

a breakdown of the core capital and the supplementary own resources, including shares and other own resources issued by a dominant company;

17.

a list of the consolidation of own resources;

18.

an orderly listing of the following data and key figures on a consolidated basis for the financial year according to the establishment states:

a)

the name of the branch, its business units and the name of the registered office of the establishment,

b)

Net interest income and operating income,

c)

number of full-time employees,

d)

Year-on-year results before taxes,

e)

Taxes on income,

f)

received public aid;

19.

the total return on capital, which is to be represented as the quotient of the annual result after tax, divided by the balance sheet total at the balance sheet date. "

139. In § 64 (1) to (6), the term "HGB" in each case by the term "UGB" replaced.

140. In Section 65 (2) (1) and (2a) (2a), the term " "HGB" in each case by the term "UGB" replaced.

141. In accordance with § 65, the following § 65a with the title is added:

" Publications relating to corporate governance and remuneration

§ 65a. Credit institutions have to discuss on their Internet site the manner in which they comply with the provisions of § § 5 (1) Z 6 to 9a, 28a (5) Z 1 to 5, 29, 39b, 39c, 64 (1) Z 18 and 19 and the annex to § 39b. "

142. The heading to the XIV. Section is:

" XIV. Section: Supervision "

143. The following heading is inserted before Section 69:

"Jurisdiction of the FMA"

144. § 69 (1) and (2) are:

" (1) The FMA has, without prejudice to the tasks assigned to it in other federal laws, compliance with the provisions of this Federal Law, the Sparkassengesetz, the Bausparkassengesetz (Bausparkassengesetz), the Introductory Ordinance to the Mortgage Bank-and to the Pfandbrief Act, the Mortgage Bank Act, the Pfandbrief Act, the Banking Education Act, the Investment Fund Act 2011, the depositary act, the BMSVG, the Real Estate Investment Fund Act, the Financial Conglomerate Act, the Regulation (EU) No 575/2013 as well as the relevant banking supervision technical standards within the meaning of Articles 10 to 15 of Regulation (EU) No 1093/2010 and of Articles 10 to 15 of Regulation (EU) No 1095/2010 by

1.

credit institutions pursuant to Article 1 (1),

2.

credit institutions as defined in Article 1 (1), which operate in other Member States by virtue of their freedom of establishment or the freedom to provide services, in accordance with the conditions laid down in Article 16 (1),

3.

CRR credit institutions authorised in a Member State, having their registered office in the Member State concerned and acting through the freedom of establishment or the freedom to provide services in Austria, in accordance with the conditions laid down in § 15,

4.

CRR financial institutions established in a Member State and operating in Austria by way of freedom of establishment or the freedom to provide services, in accordance with the conditions laid down in Article 17, and

5.

Representative offices of credit institutions established in a Member State or in a third country in accordance with § 73, and, where appropriate,

6.

financial holding companies in accordance with Article 4 (1) (20) of Regulation (EU) No 575/2013, or

7.

Mixed financial holding companies according to § 2 Z 15 FKG

, taking into account the economic interest in a functioning banking system and the financial stability of the financial markets.

(2) The FMA has to supervise:

1.

Taking into account the nature, scope and complexity of the banking transactions carried out by credit institutions and groups of credit institutions, the appropriateness of capital and liquidity, which is used for the quantitative and qualitative protection of all the banking transactions carried out in the banking sector. , as well as the appropriateness of the proceedings pursuant to § 39 (1) and (2) and (39a), in particular taking into account the risks listed in § 39 (2b);

2.

the systemic risk (§ 2 Z 41), based on the systemic risk or, as the case may be, the recommendation of the European Systemic Risk Board (ESRB), by a credit institution for the stability of the financial system;

3.

Taking into account the nature, scale and complexity of the banking operations carried out by the credit institution and the groups of credit institutions, the risks identified by stress tests. "

145. In accordance with Article 69 (3), the following paragraphs 3a and 3b are inserted:

" (3a) In the context of its supervisory activities under Article 69 (2) and (3), the FMA shall establish that credit institutions with similar risk profiles are, or may be, exposed to similar risks or pose a similar risk to the financial system, carry out their supervisory activities in a similar or similar manner to these credit institutions in accordance with Article 69 (2) and (3). The FMA may also take similar or similar measures in relation to such credit institutions in accordance with § 70 (4a) to 4d (4) and Article 106 of Directive 2013 /36/EU. The FMA shall inform the EBA if it makes use of the powers under this paragraph.

(3b) Once a year, the FMA shall carry out a meaningful comparison of the quality of the approaches and methods used by credit institutions to determine the credit and market risk, and shall examine significant aspects. If the FMA finds an underestimation of the own resources requirements of a credit institution, it shall take appropriate measures to restore the legal status. "

146. Section 69 (5) reads as follows:

" (5) The FMA has, in the enforcement of the provisions of this Federal Law and Regulation (EU) No 575/2013, including the authorisation and enforcement of the national and EU regulations issued on these bases, of European convergence to take account of supervisory and supervisory procedures. To this end, the FMA shall participate in the activities of the EBA, to cooperate with the ESRB, to apply the guidelines and recommendations and other measures adopted by the EBA, and to the measures adopted by the ESRB in accordance with Article 16 of the Regulation (EU) No 1092/2010 issued warnings and recommendations. The FMA may derogate from these guidelines and recommendations, provided there are legitimate reasons for this, in particular contradiction to federal regulations. "

147. Section 69 (6) is deleted.

148. Before section 69a, the following heading is inserted:

"Allocation of costs"

149. In Section 69a (4) the expression shall be: "1 000 €" in each case by the expression "1 000 euro" replaced.

150. Before section 69b, the following heading is inserted:

"Publication requirements of the FMA"

151. § 69b reads:

" § 69b. (1) The FMA has the following general information on the Internet to be published and continuously updated:

1.

The text of the laws and regulations in force in the field of banking supervision;

2.

the minimum standards and circulars of the FMA in the field of banking supervision;

3.

the exercise of the electoral rights opened in Regulation (EU) No 575/2013 or in Directive 2013 /36/EU;

4.

the general criteria and methods for the review and evaluation of risk management and of the risk coverage of a credit institution pursuant to § 39a; this information shall also be communicated to EBA;

5.

in compliance with banking secrecy (§ 38) and professional secrecy referred to in Title VII, Chapter 1, Section II of Directive 2013 /36/EU, and of Articles 54 and 58 of Directive 2004 /39/EC, aggregated statistical data on key aspects of the implementation of the regulatory framework conditions, including the number and type of supervisory measures imposed in accordance with section 70 (4) to (4c), and the fines imposed;

6.

general criteria and methods for checking compliance with the requirements of securitisation in accordance with Articles 405 to 409 of Regulation (EU) No 575/2013;

7.

a summary of the results of the supervisory review and a description of the measures imposed in the event of non-compliance with Articles 405 to 409 of Regulation (EU) No 575/2013 in the form of a summary of the results of the supervisory review, while maintaining the secrecy of the Annual report no later than 31 March of the following year; no current year-on-year update has to be made;

8.

a list of the Global System-relevant Institutes and other system-relevant institutes based in Germany, taking into account the respective subcategory assigned.

(2) If the authorisation is granted for an exemption pursuant to Article 6 (3) or Article 8 (1) of Regulation (EU) No 575/2013, the FMA shall publish the following general information on the Internet and shall update it on an ongoing basis:

1.

the criteria for finding that there is neither a substantial practical or legal obstacle to the immediate transfer of own funds or payment of liabilities, nor to be seen;

2.

the number of parent institutions to whose benefit the discretion is exercised in accordance with Article 6 (3) or Article 8 (1) of Regulation (EU) No 575/2013, and the number of institutions which have subsidiaries in a third country;

3.

the aggregated data:

a)

the total amount of the consolidated own funds of the parent institution held in subsidiaries in a third country;

b)

the percentage of the own resources held in subsidiaries in a third country in the consolidated own resources of the parent institution for which an exemption has been granted.

(3) FMA shall collect and use the information on remuneration policies to be disclosed by credit institutions pursuant to Article 450 (1) (g), (h) and (i) of Regulation (EU) No 575/2013, and shall use them to identify trends in this area. The findings of these findings shall be submitted by the FMA to the EBA. In addition, the FMA has information on the number of employees of a credit institution whose remuneration amounts to at least one million euros per financial year, broken down according to remuneration levels of one million euros, including their remuneration. To collect and transmit to the EBA the activity, the business area concerned and the essential components of the salary, as well as bonuses, long-term premiums and pension contributions. "

152. The following heading is inserted before Section 70:

"Information and information collection powers"

153. Section 70 (1) Z 1 reads as follows:

" 1.

of credit institutions, credit institution's allies, parent credit institutions for the credit institution group, financial holding companies, mixed financial holding companies and mixed holding companies, the submission of In addition, credit institutions, credit institutions, credit institutions, credit institutions, credit institutions, credit institutions, credit institutions, credit institutions, credit institutions, credit institutions, credit institutions, credit institutions, credit institutions, credit institutions, credit institutions, credit institutions, credit institutions, credit institutions, credit institutions, credit institutions, credit institutions, credit institutions of financial holding companies, mixed financial holding companies and mixed holding companies and their institutions require information on all matters of business, including books, documents and data media; the scope of the information, presentation and presentation of documents; and The rights of the FMA and the obligation to make documents available in Germany are subject to Section 60 (3) of the German Federal Republic of Germany.

154. Section 70 (1b) reads as follows:

" (1b) The FMA and the Oesterreichische Nationalbank shall jointly define a programme for the following calendar year. The examination programme has to be taken into account

1.

the audit of system-relevant credit institutions,

2.

an appropriate audit frequency of non-systemically relevant institutions;

3.

Resources for site-related audits,

4.

subject-related audit priorities,

5.

the verification of the measures for cleaning up in the event of any defects found, in particular taking into account the results of the supervision in accordance with Section 69 (2) and (3).

In the examination programme, the examination priorities as well as the date of the start of the examination are to be determined in each case. The audit programme shall also include a list of credit institutions to be subject to increased supervision. On the basis of Section 69 (2) and (3), it is necessary to determine whether an increase in the number or frequency of on-site inspections of credit institutions, additional or more frequent reporting by the credit institution, or an additional or more more frequent checking of operational or strategic plans as well as the business plans of the credit institutions are needed. If the Oesterreichische Nationalbank finds that, in order to ensure the criteria according to Z 1 to 5, an on-the-spot check is required which is not set out in the joint audit programme, it shall be entitled and obliged to the FMA to To request the grant of an additional examination order. This request shall contain a substantive proposal for the examination mandate and shall have the reasons justifying an extra-planned examination within the meaning of Z 1 to 5. The FMA must either issue the examination contract without delay, but at the latest within one week, or reject it, indicating the reasons for it. The right to issue examination orders of the FMA pursuant to Section 1 (1) (3) and (4) shall remain unaffected. "

155. In accordance with Section 70 (1d), the following paragraph 1e is added:

"(1e) If the FMA finds during an examination that a systemic risk (§ 2 Z 41) emanates from an institution, it shall immediately inform the European Banking Authority (EBA) thereof."

156. In Section 70 (2), after the word group, "the assets entrusted to him" the word group "or to ensure the stability of the financial sector" inserted.

157. Section 70 (4) to (4c) shall read:

" (4) If a concession condition pursuant to section 5 (1) (1) to (14) is no longer available after the concession, a credit institution, a financial holding company, a mixed financial holding company or a mixed financial holding company shall no longer be subject to the concession condition. Holdinggesellschaft provisions of this federal law, the Sparkassengesetz (Sparkassengesetz), the Bausparkassengesetz (Bausparkassengesetz), the introductory ordinance on the mortgage bank-and the Pfandbrief Act, the mortgage banking act, the Pfandbrief Act, the Bank debt securities law, the Investment Fund Act 2011, the depositary act, the E-Money Law, the BMSVG, the Real Estate Investment Fund Act, of the Financial Conglomerate Act, the Banking Intervention and Restructuring Act, a regulation or a decision adopted pursuant to these federal laws, the provisions of Regulation (EU) No 575/2013, or a decision adopted on the basis of this Regulation, or the technical requirements of the banking system Standards within the meaning of Articles 10 to 15 of Regulation (EU) No 1093/2010 and of Articles 10 to 15 of Regulation (EU) No 1095/2010, the FMA has

1.

to apply to the credit institution, the financial holding company, the mixed financial holding company or the mixed holding company under threat of a penalty, to establish the lawful condition within that period of time which shall be it is appropriate to the circumstances of the case;

2.

in the event of a repetition or continuation, to prohibit the management of the management in whole or in part, unless this would be inappropriate in the nature and seriousness of the infringement, and the restoration of the legitimate condition by: Further action in accordance with Z 1 can be expected; in this case, the first imposed penalty is to be carried out and the order shall be repeated under threat of a higher penalty;

3.

To withdraw the concession of a credit institution if other measures under this Federal Act cannot ensure the functioning of the credit institution.

If a credit institution violates the provisions of the legal acts referred to in the first sentence, or, in the opinion of the FMA, it has been shown that a credit institution is likely to oppose such provisions within the next twelve months, , the FMA may also take measures pursuant to paragraph 4a (1) (1) to (12).

(4a) Without prejudice to the first sentence of paragraph 4, the FMA may, if this is due to the results of its supervisory activities within the scope of sections 21a (3) and 69 (2) and (3), in the case of the last sentence of paragraph 4 or in order to enforce compliance with the provisions of the Regulation (EU) No 575/2013 is required,

1.

Credit institutions, taking into account all significant banking and banking risks and the systemic risk emanating from the Institute (§ 2 Z 41), require additional own resources to be maintained for the consideration of not by § § (2b) to keep the risk components and risks covered by the own resources requirement in accordance with Article 92 of Regulation (EU) No 575/2013;

2.

require a strengthening of the regulations, procedures, mechanisms and strategies introduced in order to comply with § § 39 and 39a;

3.

require credit institutions to submit a plan for the production of the legitimate condition and set a time limit for the implementation of this plan, and, where appropriate, to improve the scope and time frame of the plan; require;

4.

Credit institutions as own resources require certain provisions for the provision of a reserve or a special treatment of their assets;

5.

-restrict or limit the business units, activities or network of credit institutions, or require the divestment of business branches that are associated with too great a risk for the soundness of the credit institution;

6.

require credit institutions to reduce the risk associated with their activities, products and systems;

7.

require credit institutions to limit variable remuneration to a percentage of net income, if otherwise not compatible with the maintenance of sound capital;

8.

require credit institutions to use net profits to strengthen own resources;

9.

Restrict or prohibit the credit institution's capital and profit distributions, provided that the non-payment would not constitute a default event for the credit institution;

10.

require additional reporting requirements or shorter reporting intervals, including those relating to own resources and liquidity situation;

11.

to impose special liquidity requirements, including limitation of maturity incongruities between assets and liabilities; and

12.

additional disclosure.

(4b) As far as appropriate, the FMA has to prescribe an additional resource requirement in accordance with paragraph 4a Z 1, at least in the following cases:

1.

the credit institution does not comply with the requirements of Sections 39 and 39a and in Article 393 of Regulation (EU) No 575/2013;

2.

the risks and risk components are not covered by capital buffers or the own resources requirement determined in accordance with § § 23 to 23c or by Regulation (EU) No 575/2013;

3.

In view of the circumstances of the case, other measures in accordance with this Federal Act do not allow for adequate collection and limitation of the risks or the legal condition to be established within a reasonable period of time. ; in so doing, the FMA is not obliged to proceed initially in accordance with paragraph 4 (1) (1) in the case of supplementary own resources;

4.

the review in accordance with § 69 (2) and (3) shows that the conditions for the application of the respective approach are not complied with and that the own resources requirements are probably inadequate in that respect;

5.

it is likely that the risks will be underestimated in spite of compliance with the applicable regulations under this federal law and Regulation (EU) No 575/2013;

6.

the own resources requirements resulting from the results of the stress tests in accordance with Article 377 (5) of Regulation (EU) No 575/2013 on the own resources requirements for the correlation trading portfolio in accordance with Art. 377 of the Regulation (EU) No 575/2013.

(4c) In the case of an advance of an additional own-resources requirement pursuant to Section 4a (4a) and (4b), the FMA has in particular:

1.

the quantitative and qualitative aspects of credit institutions ' plans and procedures in accordance with Article 39a;

2.

the strategies and procedures laid down in paragraph 39;

3.

the results of the supervisory activity in accordance with § 69 (2) and (3) and

4.

the assessment of systemic risk (§ 2 Z 41), which is based on an institute

shall be considered. In order to comply with the additional own resources requirement in accordance with Section 70 (4a) (1) and (4b), no hard core capital may be used which is to comply with the minimum requirement of own resources in accordance with Article 92 (1) of Regulation (EU) No 575/2013 or the capital buffer in accordance with § § 23 to 23c. "

158. The following paragraph 4d is added to § 70:

" (4d) FMA may require credit institutions and groups of credit institutions to require special liquidity requirements where this is necessary in order to impose liquidity risks to which a credit institution or a group of credit institutions is exposed or could be suspended. In assessing the need for special liquidity requirements, the FMA has in particular:

1.

the nature, scope and complexity of the banking operations operated by the credit institution or the credit institution group;

2.

the regulations, strategies and procedures in accordance with § § 25, 39 and 39a or a regulation adopted pursuant to section 39 (4) (7) of the BWG;

3.

the results of the supervisory activity in accordance with § 69 (2) and (3);

4.

the systemic risk (§ 2 Z 41), which originates from a credit institution or a group of credit institutions for the Austrian financial centre; and

5.

the requirements laid down in Part 6 of Regulation (EU) No 575/2013

shall be taken into account.

159. Section 70 (11) is deleted.

160. The following heading is inserted before Section 70a:

"Parent mixed enterprises"

161. Section 70a (1) reads as follows:

Where the parent undertaking of a credit institution is a mixed financial holding company, a mixed parent financial holding company or a mixed holding company, the FMA shall be without prejudice to its provisions under other provisions of this Regulation. Federal law or Regulation (EU) No 575/2013 at any time in the sense of a current supervision of credit institutions, the credit institution shall have the right to provide all the information necessary for the supervision of the credit institution concerning the mixed holding as parent company and its subsidiary. These undertakings shall provide the credit institution with all the documents and provide all information so as to enable the credit institution to comply with its obligation to provide information to the FMA. "

162. Section 70a, para. 2, last sentence reads:

" With this examination, the bank examiners, the responsible audit and audit associations, auditors or other by the mixed financial holding company, the parent mixed financial holding company or the mixed holding company to be entrusted with independent experts. "

163. Section 70a (4) reads as follows:

Where the mixed financial holding company, parent mixed financial holding company, the mixed holding company or one of its subsidiaries has its registered office in another Member State, the FMA shall have the competent authorities of the other Member States to request the examination referred to in paragraph 2. "

164. Section 70a (5), first sentence reads:

" Where the parent undertaking of a credit institution is a mixed financial holding company, mixed parent financial holding company or mixed holding company, the FMA shall be the FMA, without prejudice to its provisions under other provisions of this Regulation. Federal Law or Regulation (EU) No 575/2013, entitled to supervise the transactions between the credit institution and the parent holding company and its subsidiaries. "

165. The following heading is inserted before § 71:

"On-the-spot checks"

166. The following heading is inserted before § 72:

"Cooperation between authorities"

167. Section 73 (1) Z 2, 3, 8, 9, 12, 16 and 17 are as follows:

" 2.

any change in the conditions laid down in Article 5 (1) (6), (7), (10), (13) and (7a) of existing business managers;

3.

any change in the person of the directors as well as compliance with § 5 (1) (6) to (11) and (13) and section 30 (7a) and, in the case of a custodian bank pursuant to § 41 InvFG 2011, compliance with Section 41 (2) of the InvFG 2011;

8.

any appointment of a member of the Supervisory Board, stating the fulfilment of the requirements of section 28a (5) and any amendment to the conditions set out in § 28a (3) and (5) of existing members of the Supervisory Board;

9.

any more than one month of the failure to comply with the regulatory or non-compliance requirements imposed by Regulation (EU) No 575/2013 and the provisions adopted on that basis;

12.

the indications that the limits referred to in Article 89 (3) of Regulation (EU) No 575/2013 are exceeded;

16.

the intended use of the standard method in accordance with Article 276 of Regulation (EU) No 575/2013;

17.

the intended emission of capital instruments to be attributed to the core capital. "

168. Section 73 (1) (c) 17a to 19 shall be deleted.

169. Section 73 (3) reads as follows:

" (3) The parent credit institution shall have the FMA name, legal form, seat and host state of a parent financial holding company, parent mixed financial holding company or parent mixed holding company, and any possible To notify changes immediately in writing. The FMA has to send a list of these parent companies to the European Commission, the EBA and the competent authorities of the other Member States. "

170. Section 73 (4) reads as follows:

" (4) Credit institutions shall immediately notify the FMA in writing:

1.

The principles and procedures for the inclusion of positions in the trading book referred to in Part 3, Title I, Chapter 3 of Regulation (EU) No 575/2013, and the amendment of those principles and procedures;

2.

the approach or approaches to the evaluation of options and the determination of the sensitivity (delta, gamma and Vegafactor) for the determination of the minimum resource requirement for the risk of goods exposure and the foreign currency risk according to Part 3, Title IV of Regulation (EU) No 575/2013; in particular, the procedure for determining the volatilities and other parameters is also to be indicated. "

171. Section 73 (4a) Z 3 reads as follows:

" 3.

the approach or approaches for the evaluation of options and the determination of the sensitivity (delta, gamma and Vegafactor) for the determination of the general and specific position risk and the other risks associated with options in accordance with Part 3, Title IV of Regulation (EU) No 575/2013; in particular, the procedure for determining the volatilities and other parameters shall also be indicated. "

172. § 73a reads:

" § 73a. After hearing the Oesterreichische Nationalbank, the FMA may prescribe, by means of a regulation, that the advertisements, transmissions, submissions, the bringing of information and the submission of the information pursuant to § 9 (5), § 10 (2), (5) and (6), § 11 (3), last sentence, § § 11 (3) 3, § 20 (3), § 25 (8) Z 9, § 28a (4), § 63 (1), § 70a (5), § 73 (1) (1) to (17), (2), (3), (4), (4a), (5) and (7), and § 93a (8), pursuant to § 2 (2) of the Ordinance on the Security of the German Muendel, Federal Law Gazette (BGBl). No 650/1993, as amended by the BGBl Regulation. II No 219/2003 and Art. 143 (4), Art. 312 (1) and (3), Art. 363 (3), 366 (5) and Article 396 (1) of Regulation (EU) No 575/2013, to be made exclusively in electronic form, as well as to certain sections, technical specifications and technical specifications. Minimum requirements and transmission modalities shall be met. The FMA must be guided by the principles of efficiency and expediency and to ensure that the electronic availability of the data for the FMA and the OeNB is guaranteed and that the electronic availability of the data is guaranteed and that the FMA is able to make the most of the data available to the public. shall not be affected. Furthermore, the FMA in this Regulation may allow bank auditors for certificates and reports in accordance with § 63 (1c) and § 63 (3) to provide optional participation in the electronic system of transmission according to the first sentence. The FMA shall take appropriate measures to ensure that the notifiers or, where appropriate, their persons responsible for the movement of persons are in the system for a reasonable period of time in respect of the accuracy and completeness of the information provided by them or by their To ensure that persons responsible for the movement of persons are able to provide information. "

173. Section 74 reads as follows:

" § 74. Without prejudice to the reporting obligations laid down in Articles 99, 100, 101, 394, 415 and 430 of Regulation (EU) No 575/2013, credit institutions and superordinate credit institutions shall, without delay, submit notifications at the end of each calendar quarter. to be transmitted to the Regulation in accordance with paragraph 6. Parent credit institutions shall also have the notifications pursuant to this paragraph also to be drawn up for the foreign credit institutions fully consolidated in the audited consolidated financial statements in accordance with § 59 and § 59a.

(2) The credit institutions shall have the FMA immediately after the end of a calendar half-year notifications in accordance with the Regulation referred to in paragraph 6 above on the company-related master data as well as on the master data for the audited consolidated financial statements in accordance with § 59 and § 59a of fully consolidated foreign credit institutions. Irrespective of this, credit institutions shall immediately notify any change in master data. The reporting of the employee status has only to the annual vote up to 31 at the latest. January of the following year.

(3) The credit institutions shall, in principle, submit to the FMA notifications on the basis of paragraphs 1 and 2 or of Regulation (EU) No 575/2013 as a whole. Higher-level credit institutions have to make these reports for the credit institution group (§ 30).

(4) The Oesterreichische Nationalbank has to report on the reports in accordance with Articles 25 and Articles 89, 92 and 394 of Regulation (EU) No 575/2013.

(5) The notifications referred to in paragraphs 1 and 2 shall be submitted in a standardised form by means of electronic transmission. The transmission has to comply with certain minimum requirements to be announced by the FMA after consultation of the Oesterreichische Nationalbank.

(6) The FMA

1.

, with the agreement of the Federal Minister for Finance, to determine the reporting dates, the contents of the reports and the reporting intervals referred to in paragraphs 1 and 2 of this Regulation, by means of a regulation, and in doing so, to comply with the following:

a)

the pan-European harmonised reporting content, intervals and deadlines for regulatory technical standards (Regulation (EU) No 575/2013), and its scope,

b)

the necessary meaningful expulsion in the context of the ongoing supervision of credit institutions and credit institutions;

c)

the economic interest in a viable banking system, and

d)

the nature, scale and complexity of the transactions carried out by a credit institution;

2.

may provide for:

a)

an interval of paragraph 1 for the reporting of individual positions;

b)

the transmission of the declarations referred to in paragraphs 1 and 2 exclusively to the Oesterreichische Nationalbank, insofar as it is thereby not adversely affected in the performance of its tasks under this or other federal laws;

3.

may provide that credit institutions shall also have the following information in the notifications referred to in paragraph 1:

a)

the identification of the compliance with the liquidity provisions (§ 25) due to residual maturities;

b)

information on the balance sheet, balance sheet, profit and loss account and mandatory particulars of the Annex, and

c)

Information enabling the assessment and monitoring of compliance with the risk-specific due diligence obligations in accordance with § § 39 and 39a. "

174. In accordance with § 74, the following § § 74a and 74b shall be inserted together with the headings:

" Reporting Platform

§ 74a. (1) Credit institutions shall report to the FMA in accordance with the conditions laid down in the Regulation referred to in paragraph 2:

1.

Level, risk information and other classifiers in respect of non-securitified claims and shareholders ' rights per individual customer;

2.

the level, risk information and other classifiers in respect of securitified claims, liabilities and equity securities on a single-value paper basis;

3.

Level, risk information and other classification characteristics in respect of off-balance-sheet transactions as set out in Annexes I and II to Regulation (EU) No 575/2013.

(2) The FMA, with the agreement of the Federal Minister of Finance, shall, by means of a regulation for the notifications referred to in paragraph 1, set the reporting date, intervals, time, scope and form, and the content and the structure of the reports, and thereby to a to respect meaningful expulsion in the context of the current supervision of credit institutions; notifications pursuant to section 1 (1) (1) and (3) of claims and shareholders ' rights, off-balance-sheet transactions and derivatives of less than EUR 350 000 shall be based on the FMA in the case of the other reports referred to in paragraph 1, the FMA may be responsible for the Set the summary of individual items according to their specified categories.

(3) The notifications referred to in paragraph 1 shall be submitted in a standardised form by means of electronic transmission. The transmission has to comply with certain minimum requirements to be announced by the FMA after consultation with the Oesterreichische Nationalbank.

(4) The FMA may provide that the transmission of the messages referred to in paragraph 1 shall be effected exclusively to the Oesterreichische Nationalbank, insofar as they do not thereby in the performance of their tasks pursuant to this or other federal laws shall be affected.

Valuation of assets and off-balance sheet items

§ 74b. (1) Credit institutions and credit institution groups shall have assets and off-balance sheet items for reporting purposes and for the determination of the total exposure amount (Art. 92 (3) of Regulation (EU) No 575/2013), in accordance with § § 55 to 58 and § § 201 to 211 UGB, unless paragraph 2 is applied.

(2) The FMA may, in accordance with Article 24 (2) iVm Art. 466 of Regulation (EU) No 575/2013, credit institutions and groups of credit institutions which also carry out the evaluation of assets and off-balance sheet items in accordance with the rules laid down in Regulation (EC) No 1606/2002 carry out or are included in a consolidation in accordance with the international accounting standards applicable in accordance with Regulation (EC) No 1606/2002, prescribe that for reporting purposes and for the determination of the total exposure amount (Art. 92 (3) of Regulation (EU) No 575/2013) and the determination of own funds are to be applied to international accounting standards within the meaning of Regulation (EC) No 1606/2002, provided that adequate data quality is ensured.

(3) Credit institutions and groups of credit institutions carrying out an evaluation of assets and off-balance sheet items in accordance with the international accounting standards applicable under Regulation (EC) No 1606/2002 shall have § 64 (1) (16) and (17) "

175. The heading of § 75 reads as follows:

"Credit Register"

176. Section 75 (1) Z 1 reads as follows:

" 1.

the amount of unweighted exposures, including interbank claims, in the form of asset items, off-balance sheet transactions as defined in Annex I to Regulation (EU) No 575/2013 from the transactions referred to in Article 1 (1) (1) (3), (4), (6), (8) and (12), (2) (2) (1) and (2) (2), (3), (4) and (6) of the ZaDiG and derivatives referred to in Annex II to Regulation (EU) No 575/2013, as well as their exposure value, titrated claims against the debtor, which share rights on the debtor and other credit derivatives to be issued in accordance with Annex I to Regulation (EU) No 575/2013; "

177. In Section 75 (1) (3), the word group shall be: "Appendix 1 to § 22" through the word group "Annex I to Regulation (EU) No 575/2013" replaced.

178. Section 75 (1) Z 5 reads as follows:

" 5.

the group of connected customers (Art. Article 4 (1) (39) of Regulation (EU) No 575/2013), which belongs to the debtor; the scope of the group is to be determined for the purposes of the credit register in accordance with the Regulation of the FMA in accordance with paragraph 6, and may in particular be restricted to customers who: Borrowers of the reporting institution are; furthermore, they may be differentiated according to the respective state of the group member. "

179. The first sentence of Section 75 (1a) reads as follows:

" Each credit institution group has securitisations (Art. 4 (1) (61) of Regulation (EU) No 575/2013) and credit derivatives (Annex I to Regulation (EU) No 575/2013), the reference value of which is a securitisation, to be reported on a quarterly basis on a consolidated basis. "

180. In Section 75 (2), the word group shall be: "Appendix 2 to § 22" through the word group "Annex II of Regulation (EU) No 575/2013" replaced.

181. In Section 75 (5), the word group shall be: " Derivatives according to Appendix 2 to § 22 and credit derivatives according to Appendix 1 Z 1 lit. k to § 22 " through the word group "Derivatives referred to in Annex II to Regulation (EU) No 575/2013 and credit derivatives as defined in Annex I to Regulation (EU) No 575/2013" replaced.

182. Section 75 (7) Z 4 reads as follows:

" 4.

the information given shall be subject to the obligation of professional secrecy pursuant to Article 53 of Directive 2013 /36/EU. "

183. The heading of § 77 reads as follows:

"Cooperation and data processing"

184. Section 77 (4) Z 15 reads as follows:

" 15.

Notifications pursuant to Articles 74 and 74a; "

185. In Section 77 (4) of the Z 19, the reference " Art. 39 of Directive 2006 /48/EC " by reference " Art. 48 of Directive 2013 /36/EU " replaced.

186. Section 77 (5) reads as follows:

" (5) The granting of information and the transmission of documents, including the forwarding of data as referred to in paragraph 4, and of data which the FMA may determine in accordance with its powers, shall be admissible within the framework of mutual assistance and shall be authorised to provide information on the

1.

Members of the European System of Financial Supervisors (ESFS) in accordance with Article 2 (2) of Regulation (EU) No 1093/2010;

2.

the competent authorities of third countries with which the Council of the European Union has concluded an agreement in application of Article 48 of Directive 2013 /36/EU;

3.

authorities of other third countries responsible for supervision of the financial market, in so far as cooperation is also required in the Austrian banking supervision or otherwise financial market prudential interest and international Customs;

4.

Central banks of the European System of Central Banks and other bodies in the Member States with similar functions in their capacity as monetary authorities, if such information is provided for the exercise of their respective legal requirements. Tasks, including the conduct of monetary policy and the associated provision of liquidity, the monitoring of payment transactions, clearing and securities settlement systems and the maintenance of the stability of the financial system are relevant;

5.

Finance Ministries of the Member States;

6.

authorities or bodies responsible for maintaining financial stability in the Member States through the application of prudential supervision rules for macro-prudential supervision;

7.

authorities or bodies in a Member State which are responsible for the implementation of refurbishments, or in the processing and insolvency proceedings of institutions;

8.

Parliamentary committees of inquiry pursuant to Article 53 (1) of the Federal Constitutional Law (B-VG) following a decision on a request pursuant to Art. 53 (3) B-VG;

9.

the Court of Auditors, provided that its investigation order relates to the decisions and other activities of the FMA under this Act or Regulation (EU) No 575/2013;

10.

the Bank for International Settlements (BIS), including the multilateral bodies established with it, in particular the Financial Stability Board (FSB);

11

.the International Monetary Fund (IMF), to the extent necessary for the performance of its statutory mandate or specific tasks carried out by the members;

12.

Deposit-guarantee schemes in accordance with Directive 94 /19/EC or investor-compensation schemes in accordance with Directive 97 /9/EC.

The exchange of information and the transmission of information pursuant to Z 1 to 3 shall be permitted in each case, insofar as this is for the performance of the tasks of the authorities pursuant to Art. 53 (2), Art. 112, 113, 118 and Articles 124 to 126 of Directive 2013 /36/EU or Article 11 (1). of Directive 2002/87/EC or other legal tasks of the applicant authority or institution in the context of supervision of the financial market. The exchange of information and the transmission of information according to Z 4 and 5 shall be permitted only if this is necessary in crisis situations pursuant to Article 114 of Directive 2013 /36/EU and in accordance with Z 5 only insofar as the information for the purposes of the Article 140 of the above-mentioned Directive is relevant. In accordance with Article 55 of Directive 2013 /36/EU, the exchange of information according to Z 2 and 3 must, under the condition of a professional secrecy equivalent to Article 53 of Directive 2013 /36/EU, to fulfil the supervisory tasks of the requesting authorities and Institutions serve. The exchange of information with the authorities and institutions of the ESFS, which is not referred to in Article 2 (2) (2). (f) of Regulation (EU) No 1093/2010, subject to Articles 53 and 54 of Directive 2013 /36/EU and Article 35 of Regulation (EU) No 1093/2010, and to the performance of the tasks of the authorities and institutions of the ESFS and to the performance of the Supervisory tasks pursuant to Section 77b (5) shall be carried out. FMA may only forward information pursuant to paragraph 4 Z 19 if it has been expressly permitted by the authority which transmitted the relevant information. "

187. § 77 (6) (2) to (8) read:

" 2.

a financial holding company,

3.

a financial institution,

4.

an investment firm;

5.

a provider of ancillary services,

6.

a mixed holding company,

7.

a subsidiary of the undertakings referred to in Z 1 to 6; or

8.

a mixed financial holding company, "

188. In Section 77 (7), the reference " Art. Article 44 (1) of Directive 2006 /48/EC " by reference " Art. 54 (1) of Directive 2013 /36/EU " replaced.

189. The following heading is inserted before Section 77a:

"International Agreements"

190. In Section 77a (1), the word group shall be: " Art. 46 of Directive 2006 /48/EC, under the condition of Article 44 (1) of Directive 2006 /48/EC " through the word group " Art. 55 of Directive 2013 /36/EU, subject to the condition of Article 53 (1) of Directive 2013 /36/EU " replaced.

191. In Section 77a (4), the reference " Art. 39 of Directive 2006 /48/EC " by reference " Art. 48 of Directive 2013 /36/EU " replaced.

192. In Section 77b (1) the reference shall be made to: "§ 2 Z 9c" by reference " Art. 4 (1) Point 4 of Regulation (EU) No 575/2013 ", the reference " Art. 129 and 130 (1) of Directive 2006 /48/EC " by reference " Art. 112, 113 and 114 (1) of Directive 2013 /36/EU ", the reference " Art. 46 of Directive 2006 /48/EC " by reference " Art. 55 of Directive 2013 /36/EU " , the reference " Art. 131 of Directive 2006 /48/EC " by reference " Art. 115 of Directive 2013 /36/EU ", the reference " Art. 42, 44 (2), 131a and 139 to 142 of Directive 2006 /48/EC " by reference " Art. 50, 53 (2), 116, 118 and 124 to 126 of Directive 2013 /36/EU " and the reference " Art. Article 46 (1) of Directive 2006 /48/EC " by reference " Art. Article 55 (1) of Directive 2013 /36/EU " replaced.

193. In Section 77b (2) of the entry section, the reference " Art. Article 42a (2) of Directive 2006 /48/EC " by reference " Art. Article 51 (2) of Directive 2013 /36/EU " replaced.

194. In Section 77b (3) Z 4, the reference " Art. Article 44 (1) of Directive 2006 /48/EC " by reference " Art. 53 (1) of Directive 2013 /36/EU, or, as appropriate, Articles 54 and 58 of Directive 2004 /39/EC " replaced.

195. Section 77b (4) Z 3 reads as follows:

" 3.

Determination of prudential supervision programmes under Article 98 of Directive 2013 /36/EU on the basis of a risk assessment of the credit institution group under Article 97 of Directive 2013 /36/EU; "

196. In Section 77b (4) Z 4, the reference " Art. 130 (2) and 132 (2) of Directive 2006 /48/EC " by reference " Art. 114 (2) and Art. 117 (2) of Directive 2013 /36/EU " replaced.

197. Section 77b (4) Z 5 reads as follows:

" 5.

the coherent application of the prudential rules of Directive 2013 /36/EU and Regulation (EU) No 575/2013 to all credit institutions ' undertakings, without prejudice to the electoral rights and discretionary powers opened up in those acts; "

198. In Section 77b (4) Z 6, the reference " Art. 129 para. 1 lit. c of Directive 2006 /48/EC " by reference " Art. 112 para. 1 lit. c of Directive 2013 /36/EU " replaced.

199. In Section 77c (1), after the word group, "Section 70 (4a)" the word group "and 4b" inserted.

200. In accordance with Section 77c (1), the following paragraph 1a is inserted:

" (1a) The FMA, together with the other competent authorities responsible for the supervision of the downstream credit institutions established in other Member States, shall have to apply measures under the supervision of liquidity to: The basis of the assessment pursuant to § 69 (2) and (3), in particular with regard to the appropriateness of the procedures in accordance with § 39 (2b) Z 7 and (3) and the need for special liquidity requirements in accordance with § 70 (4d).

201. Section 77c (2) reads as follows:

" (2) The FMA as a consolidating supervisor has to submit a report to the other competent authorities with a risk assessment of the credit institution group on the basis of its supervisory activities in accordance with Section 69 (2) and (3) and within a to decide jointly with those authorities on the measures referred to in paragraph 1 above. In this joint decision, the risk assessment carried out by the other competent authorities in accordance with Article 72 and Article 92 of Directive 2013 /36/EU shall also be appropriate to the downstream institutions based in other Member States. consideration. The FMA as a consolidating supervisor also has to report to the other competent authorities with an assessment of the liquidity risk profile of the credit institution group on the basis of its supervisory activities in accordance with § 69 (2) and (3). and, within a period of one month, to decide jointly with those authorities on the measures referred to in paragraph 1a above. "

202. In accordance with Section 77c (2), the following paragraph 2a is inserted:

" (2a) Joint decisions referred to in paragraph 2 shall be set out in a document containing a full justification and shall be notified to the parent credit institution by the FMA as the consolidating supervisor. In accordance with the joint decision, a decision must be taken by the FMA as the consolidating supervisor and shall be notified to the parent credit institution. "

203. In Section 77c (5), after the word group "Measures pursuant to § 69 (2) and (3) and section 70 (4a)" the word group " , 4b and 4d " inserted.

204. In Section 77c (6) the reference shall be made to: " Art. Article 129 (3), fourth subparagraph, of Directive 2006 /48/EC " by reference " Art. 113 (3) first subparagraph of Directive 2013 /36/EU " replaced by the word group "Measures pursuant to § 69 (2) and (3) and section 70 (4a)" the word group " , 4b or 4d " inserted and the reference " Art. Article 129 (3), sixth subparagraph of Directive 2006 /48/EC " by reference " Art. 113 (3) third subparagraph of Directive 2013 /36/EU " replaced.

205. In Section 77c (7) the reference shall be made to: " Art. Article 129 (3), fourth subparagraph, of Directive 2006 /48/EC "by means of the reference". 113 (3) first subparagraph of Directive 2013 /36/EU " replaced.

206. In Section 77c (8) the reference shall be made to: " Art. Article 136 (2) of Directive 2006 /48/EC " by reference " Art. 104 and 105 of Directive 2013 /36/EU " replaced.

207. In Section 77c (9), the word group shall be "within the period referred to in paragraph 2" through the word group "within the periods referred to in paragraph 2" replaced.

208. In Section 79 (2), the word group shall be: "Notifications according to § 74" through the word group "Notifications according to § § 74 and 74a" replaced.

209. In § 79 (3) Z 2, the reference "§ § 44 and 44a" by reference "§ § 44 to 44b" replaced.

210. The following paragraph 6 is added to Article 79:

" (6) The Oesterreichische Nationalbank (Oesterreichische Nationalbank) has to report to the FMA on the request of the FMA on the admissibility and correctness of netting agreements. The Oesterreichische Nationalbank (Oesterreichische Nationalbank) is entitled to obtain the necessary information and documents from the competent authorities abroad. If the FMA has doubts about the legal validity of the netting agreement as a result of the opinions received and the information obtained or other circumstances, it shall inform the credit institution accordingly. The credit institution shall make a copy of this notice available to the counterparty. "

211. In Section 81 (3), the reference " Art. 4ff of Directive 2000 /12/EC or Article 6ff of Directive 2006 /48/EC " by reference " Art. 9ff of Directive 2013 /36/EU " replaced.

212. § 93 (5) Z 1 to 2 shall read:

" 1.

Deposits made by other credit institutions, financial institutions or investment firms or CRR credit institutions authorised in a Member State or in a third country on their own behalf and on their own account,

1a.

exposures arising from securities transactions of other credit institutions or financial institutions or investment firms or CRR credit institutions authorised in a Member State or in a third country;

2.

Own resources referred to in Part 2 of Regulation (EU) No 575/2013, irrespective of their appropriateness, "

213. In § 93 (5) Z 8 and 12 the term "HGB" in each case by the term "UGB" replaced.

214. Section 98 (1) reads as follows:

" § 98. (1) Those who do bank transactions in accordance with Article 4 (1) (1) of Regulation (EU) No 575/2013 without the necessary authorization shall be entitled, provided that the act does not constitute a criminal offence within the jurisdiction of the courts; administrative surrender and shall be punished by the FMA with a fine of up to 5 million euros or up to two times the benefit drawn from the infringement, insofar as this may be quantified. "

215. In Article 98, the following paragraph 1 is inserted after paragraph 1:

" (1a) Any person other than the banking transactions referred to in paragraph 1 without the necessary authorization shall be subject, provided that the action does not constitute a criminal offence within the jurisdiction of the courts, a Administrative surrender and is punishable by the FMA with a fine of up to 100 000 euros. "

216. Section 98 (2) Z 1, 2, 7, 8 and 11 are as follows:

" 1.

the written notification pursuant to section 10 (5) of the data concerning changes to the terms of the information pursuant to § 10 (2) (2) (2) to (4) and (4) (4) (2) to (6) to FMA

2.

the display of the activities referred to in points 1 to 15 of Annex I to Directive 2013 /36/EU pursuant to Article 10 (6) of Directive 2013 /36/EU is to be submitted to the FMA;

7.

the prompt written notification of the facts referred to in § 73 (1) or in Regulation (EU) No. 575/2013 to the FMA;

8.

the notifications of the FMA or the Oesterreichische Nationalbank provided for in § § 74, 74a and 75 shall not be repeated within the time limits laid down or repeatedly not in accordance with the statutory or statutory formalities laid down by law or by the provisions of the regulations laid down in Article or repeatedly inaccurately or repeatedly incompletely,

11.

in accordance with the provisions of Article 73 (4) and (4a) or the disclosure requirements provided for in Article 21a of the FMA or the submission and transfer obligations provided for in § 44 (1) to (6); "

217. Section 98 (2), (3), (4), (4b) and (9)

218. Section 98 (5) reads as follows:

" (5) Those who are responsible (§ 9 VStG) of a credit institution

1.

allows the credit institution to repeatedly or continuously not have liquid assets in accordance with Art. 412 of Regulation (EU) No 575/2013;

2.

requests that go beyond the ceilings laid down in Article 395 of Regulation (EU) No 575/2013;

3.

against the provisions of Section 24, make payments to holders of instruments which are part of the credit institution ' s own funds or where such payments to holders of instruments, in accordance with Articles 28, 51 or 52 of Regulation (EU) No 575/2013, Own resources instruments are not permitted;

4.

the obligations of § 39 or of a regulation of the FMA issued pursuant to Section 39 (4) are infringed;

5.

the granting of concession pursuant to Article 4 (1) has been brought about by incorrect information or by deceptive acts or otherwise scarcely has been made possible,

if the offence does not constitute the offence of a criminal offence within the jurisdiction of the courts, an administrative surrender and is a fine of up to 5 million euros or up to two times that of the infringement by the FMA to the extent to which it may be quantified. "

219. The following paragraphs 5a and 6 are added to Article 98:

" (5a) Those who are responsible (§ 9 VStG) of a credit institution

1.

the written notification of each purchase and of any assignment pursuant to § 20 (1) and (2) to the FMA pursuant to § 20 (3);

2.

the written indication of the identity of the shareholders or other members who hold qualifying holdings and the amount, in particular, of the amount of such holdings, as is the case in particular on the occasion of the annual general meeting of shareholders or other shareholders; In accordance with Section 20 (3) of the Austrian Stock Exchange Act (Austrian Stock Exchange Act), shareholders or on the basis of sections 91 to 94 of the Austrian Stock Exchange Act (Börsegesetz) will be subject to F

3.

breaches the obligations of Sections 40, 40a, 40b, 40d or 41 (1) to (4);

4.

the reports on the fulfilment of the own resources requirements pursuant to Article 92 of Regulation (EU) No 575/2013 to the FMA under Article 99 (1) of Regulation (EU) No 575/2013 are not carried out, incomplete or inaccurate;

5.

the data set out in Article 101 of Regulation (EU) No 575/2013 on losses arising from real estate collateral is not transmitted to the FMA, or incomplete or inaccurate;

6.

the notifications of large expouses under Article 394 (1) of Regulation (EU) No 575/2013 are not carried out, incomplete or inaccurate;

7.

The reporting of the liquidity situation to the FMA under Art. 415 (1) and (2) of Regulation (EU) No 575/2013 does not incompletely or inaccurately carry out;

8.

the information on the debt ratio as laid down in Article 430 (1) of Regulation (EU) No 575/2013 is not communicated to the FMA, or incomplete or inaccurate;

9.

in the event that the credit institution is subject to a securitisation position, the credit institution does not fulfil the conditions laid down in Article 405 of Regulation (EU) No 575/2013;

10.

does not disclose the information required under Article 431 (1) to (3) or Article 451 (1) of Regulation (EU) No 575/2013, or does not provide information in incomplete or incorrect terms;

If the offence does not constitute the offence of a criminal offence within the jurisdiction of the courts, an administrative surrender and is a fine of up to EUR 150 000 by the FMA, in the case of an administrative surrender according to Z 3 with To punish imprisonment for up to six weeks or a fine of up to € 150 000.

(6) In the event of an infringement of an obligation pursuant to Section 10 (5) of the notification of changes in the terms of the claims pursuant to § 10 sec. 2 Z 2 to 4 and paragraph 4 Z 2, § 10 para. 6, § 20 para. 3, § 28a para. 4 with regard to the display of the re-election of the same person as Chairman, Section 73 (1) (1) (1) with regard to amendments to the Articles of Association, Section 73 (1) (4) and (7), Section 73 (1) (8) with regard to the display of the reappointment of the same person as a member of the Supervisory Board, Section 73 (1) (11) and (14) and Section 73 (2), the FMA of the initiation and implementation of an administrative criminal procedure where the administrative proceedings are not properly reimbursed Notice has been obtained before the FMA or the Oesterreichische Nationalbank has gained knowledge of this transgressing. This shall also apply to proceedings pursuant to section 99d (1) and (2). "

220. § 99 (1) (3), (4) and (6a) are:

" 3.

the written notification of each purchase and of any assignment pursuant to § 20 (1) or (2) to the FMA is not allowed;

4.

an acquisition or assignment in accordance with Section 20 (1) or (2) during the assessment period pursuant to § 20a (1) or contrary to a violation pursuant to Section 20a (2);

6a.

as the person responsible (§ 9 VStG) of a parent financial holding company, mixed financial holding company or mixed holding company or a subsidiary of such companies, the credit institution does not provide all information pursuant to § 70a para. 1; "

221. Section 99 (1) (5) is deleted.

222. In accordance with § 99b, the following § § 99c to 99g are inserted:

" § 99c. (1) The FMA may take the name of the person, the credit institution, the financial holding company or the mixed financial holding company in the event of a breach in accordance with § § 98 (1), (2) (7) and (11), (5), (5a) or (99) (1) (3) or (4) or in a Infringement of the provisions of § 5 (1) Z 6 to 9a or § 28a (5) Z 1 to 5 under the guidance of the committed infringement, provided that such disclosure does not seriously endanger the stability of the financial markets or the parties concerned does not inflict a disproportionate amount of damage.

(2) Convicted fines for violations in accordance with § § 98 (1), (2) (7) and (11), (5), (5a) or 99 (1) (3) or (4) and (99d) are by the FMA, including the identity of the sanctioned person and the information on the nature and character of the person. of the underlying offense immediately on the Internet.

(3) The announcement pursuant to paragraph 2 shall be made on an anonymous basis, if a roll-call announcement is made

1.

of a sanctioned natural person would be disproportionate, or

2.

the stability of the financial markets of a Member State or of several Member States of the European Union, or

3.

the conduct of ongoing criminal investigations, or

4.

would cause disproportionate damage to the parties, provided that such damage can be determined.

If there are reasons for an anonymous publication in accordance with Z 1 to 4, however, it can be assumed that these reasons will no longer be available in the foreseeable future, so the FMA can look away from the acceptance of an anonymous publication and the sanction shall also announce, in accordance with paragraph 1, the reasons for the reasons in Z 1 to 4.

(4) The person concerned by a publication may request a review of the legality of the publication in accordance with para. 1, 2 or 3 in a procedure to be carried out in a modest way with the FMA. In this case, the FMA has to make the introduction of such a method known in the same way. If, in the context of the review, the unlawfulness of the publication is determined, the FMA shall correct the publication correctly or, at the request of the person concerned, either withdraw it or remove it from the internet presence. If a complaint against a communication which has been disclosed in accordance with paragraphs 1, 2 or 3 is granted suspensive effect in proceedings before the courts of the courts, the FMA shall disclose this in the same way. The publication shall be correct or, at the request of the person concerned, either to be revoked or to be removed from the internet presence if the communication is cancelled.

(5) If a publication in accordance with paragraph 2 or 3 is not to be revoked on the basis of a decision pursuant to paragraph 4 or to be removed from the internet presence, it shall be maintained for at least five years. However, the publication of personal data should only be maintained for as long as one of the criteria laid down in paragraph 3 (3) (1) to (4) would not be fulfilled.

§ 99d. (1) The FMA may impose financial penalties on legal persons if persons who have acted either alone or as part of an organ of the legal person and have a leading position within the legal person on the basis of

1.

the power to represent the legal person,

2.

the power to take decisions on behalf of the legal person, or

3.

an authority of control within the legal person

, in violation of the obligations referred to in Article 98 (1), (2) (7) and (11), (5), (5), (5a) or (4) (1) (3) or (4), provided that the action does not constitute a criminal offence within the jurisdiction of the Courts. is formed.

(2) Legal persons may also be held liable for violations of the obligations referred to in § 98 (1), (2) (7) and (11), (5), (5), (5), (5), (5), (5), (5), (5), (5), (5) or (4), if lack 1. the person referred to above has made possible the commission of these infringements by a person acting for the legal person, provided that the act does not constitute the offence of a criminal offence falling within the jurisdiction of the courts.

(3) The financial penalty referred to in paragraph 1 or 2 shall be up to 10 vH of the total annual net turnover in accordance with paragraph 4 or up to two times the benefit drawn from the infringement, to the extent that it is possible to quantify the amount.

(4) The total annual net turnover in accordance with paragraph 3 shall be the total amount of all the income referred to in section 43 of Annex 2 to credit institutions, minus the expenses referred to in paragraph 43 of Appendix 2; the undertaking shall be a Subsidiary, shall be subject to the annual total annual net turnover shown in the consolidated accounts of the parent company at the top of the group in the previous financial year. For other legal entities, the total annual turnover shall be decisive. To the extent that the FMA cannot determine or calculate the basis for the total turnover, it has to estimate it. Account shall be taken of all the circumstances which are of importance for the estimation.

(5) The FMA may depart from the punishment of a person responsible pursuant to § 9 of the VStG if an administrative penalty is already imposed on the legal person for the same infringement and there are no special circumstances which are subject to an abuding of the Punishing against punishment. "

§ 99e. In determining the nature of the sanction or measure, the FMA has, in respect of violations of the provisions of the federal laws referred to in § 70 para. 4, against regulations or regulations issued on the basis of these federal laws, or against the provisions of the regulations of Regulation (EU) No 575/2013 and of the amount of a fine, in so far as appropriate, in particular the following circumstances:

1.

The seriousness and duration of the infringement;

2.

the degree of responsibility of the responsible natural or legal person;

3.

the financial strength of the natural or legal person responsible, as shown, for example, from the total turnover of the responsible legal person or the annual income of the responsible natural person;

4.

the amount of the profits or losses incurred by the natural or legal person responsible, if they are to be quantified;

5.

the losses incurred by third parties as a result of the infringement, provided that they are quantified;

6.

the willingness of the natural or legal person responsible to cooperate with the competent authority;

7.

previous violations by the responsible natural or legal person, and

8.

all potential systemic effects of the infringement.

The provisions of the VStG shall remain unaffected by this paragraph.

§ 99f. The FMA has to report all sanctions for violations in accordance with § § 98 (1) (2) (7) and (11), (5) (5a) or (5) (5) (1) (3) or (4) and (99d) to the EBA. If a review of the legality of a sanction imposed by the FMA has been initiated, both this fact and the outcome of the appeal proceedings must also be reported to the EBA.

§ 99g. (1) The credit institutions shall have adequate procedures to enable their employees to respect the confidentiality of their identity, internal infringements of the provisions of the federal laws referred to in § 70 (4), to report to a suitable body against the provisions of Regulation (EU) No 575/2013 or of a date adopted on the basis of this Regulation against the provisions of these Federal Laws. The procedures referred to in this paragraph shall comply with the requirements of paragraph 3 (2) (2) to (4).

(2) The FMA shall have effective mechanisms to encourage infringements or the suspicion of a breach of the provisions of the federal laws referred to in § 70 (4), regulations issued on the basis of these federal laws, or A decision to indicate the provisions of Regulation (EU) No 575/2013 or a decision adopted on the basis of this Regulation.

(3) The mechanisms referred to in paragraph 2 shall include at least

1.

special procedures for the receipt of notifications of infringements and their follow-up;

2.

appropriate protection for employees of credit institutions reporting violations within their institution, at least against retaliatory measures, discrimination or other types of bullying;

3.

the protection of personal data, in accordance with the principles laid down in Directive 95 /46/EC, both for the person who indicates the infringements and for the natural person who is presumed to be responsible for a breach;

4.

clear rules which ensure the secrecy of the identity of the person who indicates the infringements, unless the disclosure of the identity within the framework of a public prosecutor, judicial or administrative procedure is mandatory. "

223. In accordance with § 101, the following § 101a is inserted:

" § 101a. The fines imposed by the FMA pursuant to Section 98 (1), Section 98 (5), Section 98 (5a) (4) to (10) and § 99d of the FMA shall be paid to the Federal Government. "

224. The title of the XXIII. Section is omitted.

225. § § 102 and 102a are deleted.

226. § 103 Z 9 lit. b and c.

227. In § 103 Z 16, the term " "HGB" in each case by the term "UGB" replaced.

228. In accordance with § 103p, the following § 103q is added:

" § 103q. After the proclamation of the Federal Law BGBl. I n ° 184/2013 the following transitional provisions shall apply:

1.

From the point of view of Regulation (EU) No 575/2013, applications for authorisation may be submitted and authorisations granted in accordance with Regulation (EU) No 575/2013.

2.

Procedure for the use and modification of already approved internal approaches and for the revocation of the approval of internal approaches according to § § 21a to 21h in the version before the BGBl. I No 184/2013 are not to be repeated. Modesty, which is based on § § 21a to 21h in the version before the BGBl. I n ° 184/2013 have been adopted as a description on the basis of the specific legal basis laid down in Regulation (EU) No 575/2013. Changes to already approved internal models resulting from Regulation (EU) No 575/2013 shall be notified immediately to the FMA. The FMA has to approve the amendments or revoke the authorization.

3.

In the case of approval procedures pursuant to Article 19 (2), Article 49 (1) and (3) or 113 (6) and (7) of Regulation (EU) No 575/2013, a credit institution, a credit institution group or a credit institution group may, with the preliminary consent of the FMA, the granting of the rights granted for the duration of the authorisation procedure. The FMA has to grant the provisional agreement by means of a procedural arrangement if the application has a well-founded, verifiably documented self-assessment of the fulfilment of the respective permit status under the Regulation (EU) No. 575/2013. In this self-assessment, the central organisation for the credit institution group, the credit institution group for the credit institution group, has the fulfilment of the requirements of the respective granting status under the Regulation (EU) No. 575/2013. The FMA has to consult the National Bank of Oesterreichische Nationalbank (Oesterreichische Nationalbank) before obtaining a preliminary agreement A legal right to a final approval may not be derived from the preliminary approval by the FMA. The provisional consent shall be issued with the final decision on the application, but no later than 12 months after the entry into force of Regulation (EU) No 575/2013. Withdrawal of the application shall result in the erasable of the provisional consent.

4.

(to § 1a): Until the entry into force of a possible legislative proposal pursuant to Article 507 of Regulation (EU) No 575/2013, but no later than 31 December 2028, the following claims shall be made fully or in part by the application of Article 395 (1) of Regulation (EU) No 575/2013. Regulation (EU) No 575/2013 exempted:

a)

By giving them a weight of zero:

aa)

covered debt securities under Article 129 (1), (3) and (6) of Regulation (EU) No 575/2013;

bb)

Assets representing claims and other risks, including holdings or other shares, in relation to the EEA parent company in accordance with Article 4 (1) (15) of Regulation (EU) No 575/2013, other subsidiaries, in accordance with Article 4 (1) (16) of Regulation (EU) No 575/2013 of the same and its subsidiaries, provided that all of the above are included in the supervision on a consolidated basis, which the institution is responsible for in accordance with Regulation (EU) No 575/2013 or in accordance with Section 6 (1) of the FKG itself;

cc)

Assets representing claims and other risks, including holdings or other shares, in relation to a central institution to which the credit institution is based on the basis of legal or statutes within the framework of an association , and which are responsible under these rules to balance the liquidity within that association;

dd)

assets representing exposures and other risks to credit institutions where the institution is not exposed to competition in its activities and loans under legislative programmes or its statutes; or , in order to promote, under government supervision of whatever kind and with a limited use for the loans granted, certain economic sectors, provided that the items in question from such credit institutions to the Beneficiaries of further loans or guarantees for these loans Guarantees shall include, in this case, credit derivatives recognised in accordance with Chapter 4 of Part 3 of Title II of Regulation (EU) No 575/2013, other than credit linked notes (CLN);

ee)

Assets representing exposures and other risks to institutions, provided that such exposures do not constitute own funds in accordance with Part 2 of Regulation (EU) No 575/2013 and are at the most up to the following business day.

ff)

Assets representing exposures to central governments on the basis of sovereign debt securities held in compliance with the statutory liquidity requirements, denominated in the currency of the relevant central bank State and in the latter The currency is refinanced, provided that these central states have been assessed by an external credit rating agency (ECAI) in accordance with Article 4 (1) (100) of Regulation (EU) No 575/2013 with "investment grade";

gg)

legally required guarantees to be applied when a mortgage loan refunded through the issuances of mortgage bonds is paid before the mortgage is entered in the land register to the borrower, provided that the guarantee is not shall be used to reduce the risk in the calculation of risk-weighted assets; in this case, guarantees shall also include the credit derivatives recognised in accordance with Part 3, Title II, Chapter 4 of Regulation (EU) No 575/2013, with the exception of credit Linked Notes (CLN);

hh)

assets representing exposures and other exposures to recognised exchanges; and

ii)

fiduciary credits and current loans, to the extent that the credit institution carries only the risk of a Gestion;

b)

By being provided with a weight of 20 vH:

aa)

Assets representing exposures to territorial authorities of Member States to which a risk weight of 20 vH would be assigned under Part 3, Title II, Chapter 2 of Regulation (EU) No 575/2013, as well as to others Local and regional authorities any risk exposures to which a risk weight of 20 vH would be assigned in accordance with Chapter 2 of Part 3 of Title II of Regulation (EU) No 575/2013;

bb)

Assets representing exposures to central banks on the basis of the minimum reserves to be held by the central banks, denominated in the currency of the central bank in question, and in so far as these are not in accordance with Article 400 (1) (1). (a) Regulation (EU) No 575/2013 is exempted from the application of Article 395 (1) of Regulation (EU) No 575/2013; and

cc)

Guarantees which are not credit guarantees and which are based on laws, regulations or administrative provisions and which are provided by credit guarantee groups which have the status of a credit institution to the clients connected to them; guarantees shall include in this case also includes the credit derivatives recognised in accordance with Part 3, Title II, Chapter 4 of Regulation (EU) No 575/2013, except for credit linked notes (CLN).

c)

The following claims shall be partially exempted from the application of Article 395 (1) of Regulation (EU) No 575/2013 by providing them with a weight of 50 vH:

aa)

a medium/low-risk off-balance-sheet document, where the documents are considered to be security; and

bb)

non-billable medium/low-risk transactions, which are not included in the credit facilities listed in Annex I Z 3 lit. b sublit. (i) of Regulation (EU) No 575/2013.

5.

(1a): Up to the adoption of implementing standards adopted in accordance with Article 136 (3) of Regulation (EU) No 575/2013, the FMA has to collect how the relative levels of risk differ from various recognised rating agencies and with a regulation Allocation of credit ratings awarded by recognised rating agencies to credit rating levels within the exposure classes referred to in Article 112 or Article 109 of Regulation (EU) No 575/2013. In order to differentiate between the relative degrees of risk expressed by the ratings of different recognised rating agencies, the FMA has to take account of the following factors:

a.

the long-term failure rate of all claims with the same credit rating; in the case of newly recognised credit rating agencies or recognised credit rating agencies, which have only identified the data of the failure for a short period of time, the FMA has received from the recognised to demand an estimate of the long-term failure rate of all claims with the same rating;

b.

the clientele assessed by the recognised rating agency;

c.

the range of credit ratings awarded by the recognised credit rating agency;

d.

the importance of each credit rating;

e.

the definition of the outage used by the recognised rating agency;

F.

significant deviations in the determined risk level of a recognised credit rating agency from a meaningful reference value.

Where the competent authorities of a Member State have carried out an assignment comparable to this paragraph, they may be adopted by the FMA until the implementing standard has been adopted in accordance with Article 136 (3) of Regulation (EU) No 575/2013.

6.

(to § 2 Z 42): The procedure for classifying as a significant subsidiary, which is based on § 26a (5) in the version before the BGBl. I n ° 184/2013 is not to be repeated. Modesty, which is based on § 26a (5) in the version before the BGBl. I n ° 184/2013 are considered to be the basis of the legal basis of § 2 Z 42 in the version of the Federal Law Gazette (BGBl). I No 184/2013. In the case of a new agreement on this communication, the criteria of § 2 Z 42 shall be used.

7.

(Section 3 (1) (7)): Oesterreichische Kontrollbank Aktiengesellschaft is in addition to the provisions of § 3 regarding legal transactions in the context of export promotion in accordance with the Export Promotion Act 1981 and the Export Finance Promotion Act 1981. 1. (1) (7) until 31 December 2014 shall also be exempted from the application of the provision of § 25.

8.

(Section 3 (1) (9)): In addition to the exceptions listed in Section 3 (1) (9) (9), the operation of the exchange-level business (§ 1 sec. 1 Z 22) shall also be exempted from the application of the provision of § 25 until 31 December 2014.

9.

(Section 3 (2)): Credit institutions pursuant to § 3 (2) shall be exempted from the application of the provision of § 25 until 31 December 2014.

10.

(Section 5 (1) (9a)): Section 5 (1) (a) third sentence shall not apply to activities as a member of a supervisory board which a business manager already held on 31 December 2013. This shall not apply to directors of credit institutions, of which a systemic risk can be assumed in accordance with Section 22 (2) on the basis of an assessment of the FMA in accordance with Section 22 (3).

11.

(§ § 23 and 23a): From 1. By way of derogation from the requirements of Sections 23 and 23a, January 31, 2016, January 31, 2016 shall apply a capital buffer requirement for the capital maintenance buffer of 0.625 vH as well as a capital buffer requirement of not more than 0.625 vH for the countercyclical buffer, so that the combined capital buffer requirement in accordance with § 2 Z 45 amounts to a maximum of 1.25 vH of the total exposure amount calculated in accordance with Article 92 (3) of Regulation (EU) No 575/2013. 1. January 2017 to 31 December 2017, by way of derogation from the requirements of Sections 23 and 23a, a capital buffer requirement for the capital maintenance buffer of 1.25 vH and a capital buffer requirement of a maximum of 1.25 vH for the counter-cyclical buffer shall apply, so that the combined capital buffer requirement in accordance with § 2 Z 45 amounts to no more than 2.5 vH of the total exposure amount calculated in accordance with Article 92 (3) of Regulation (EU) No 575/2013. 1. By way of derogation from the requirements of Sections 23 and 23a, January 31, 2018 shall apply a capital buffer requirement for the capital maintenance buffer of 1.875 vH and a capital buffer requirement of a maximum of 1.875 vH for the countercyclical buffer, so that the combined capital buffer requirement in accordance with § 2 Z 45 amounts to no more than 3.75 vH of the total exposure amount calculated in accordance with Article 92 (3) of Regulation (EU) No 575/2013.

12.

(to § 23b): By way of derogation from § 23b, global system-relevant institutions shall apply the following percentages of their capital buffer requirement for system-relevant institutions (§ 2 Z 43):

a)

of 1. Jänner 2016 to 31 December 2016 at least 25 vH,

b)

of 1. Jänner 2017 to 31 December 2017 at least 50 vH,

c)

of 1. Jänner 2018 to 31 December 2018 at least 75 vH, and

d)

from 1. Jänner 2019 from 100 vH.

13.

(§ § 24 and 24a): From 1. January 2016 to December 31, 2018, for the purposes of § § 24 and 24a, the capital buffer requirements laid down in accordance with Z 11 shall be deemed to be the basis for calculation.

14.

(to § 26b): § 26b shall apply to participation capital (§ 23 para. 4 in the version prior to the BGBl. I No 184/2013), which was issued before 31 December 2011, during the period of 1. January 2014 to 31 December 2021 Application.

15.

(Section 28a (5) (5)): Section 28a (5) Z 5, third sentence, shall not apply to activities as a member of a supervisory board which a member of a supervisory board of a credit institution already held on 31 December 2013. This does not apply to members of a supervisory board of credit institutions, of which, on the basis of an assessment of the FMA pursuant to Section 22 (3), a systemic risk can be assumed in accordance with Section 22 (2).

16.

§ § 30a to 30c): From the proclamation of the Federal Law BGBl. I No 184/2013 and Regulation (EU) No 575/2013 may be submitted for authorization pursuant to § § 30a, 30b and 30c and authorisations may be granted; from this date, the procedures in accordance with § § 30a to 30c may be applied in this respect.

17.

(Section 64 (1) (18)): Data pursuant to Section 64 (1) Z 18 lit. a to c shall only be included in annual accounts published after 1 July 2014. Data pursuant to Section 64 (1) (18) (d) to (f) shall only be included in annual accounts, which shall be adopted after 1. Jänner 2015 will be published. Global system-relevant institutes have data in accordance with § 64 paragraph 1 Z 18 lit. d bis f to be notified to the European Commission by 30 June 2014 at the latest.

18.

(to § 74b):

a)

In accordance with Section 74b (2) of the FMA, a credit institution or a group of credit institutions shall be informed by FMA for the purposes of applying the International Accounting Standards as defined in Regulation (EC) No 1606/2002 for reporting purposes and for the investigation of the Total amount of exposure (Art. In accordance with Article 466 of Regulation (EU) No 575/2013, Article 466 of Regulation (EU) No 575/2013 does not apply, and the FMA has to grant a lead time of 24 months. At the request of the credit institution or of the parent credit institution, this period may be shortened.

b)

Procedures for the use of IFRS for reporting purposes in accordance with § 29a in the version prior to the BGBl. I No 184/2013 are not to be repeated. Modesty, which is based on § § 29a in the version before the BGBl. I n ° 184/2013 have been issued, are considered to be a file on the basis of Section 74b (2).

19.

(to Z 8a and 8b of the annex to § 39b): Z 8a and 8b of the annex to § 39b in the version of the Federal Law BGBl. I n ° 184/2013 shall apply for the first time to remuneration granted for benefits provided after 31 December 2013. "

229. Section 105 (5) reads as follows:

" (5) Where reference is made in this Federal Act to Directive 2013 /36/EU or to Regulation (EU) No 575/2013, unless otherwise stated, the following text shall be applied:

1.

Directive 2013 /36/EU on access to the activities of credit institutions and the supervision of credit institutions and investment firms, amending Directive 2002 /87/EC and repealing Directives 2006 /48/EC and 2006 /49/EC, OJ L 73, 14.3.2006, p. No. OJ L 176, 27.6.2013 p. 338.

2.

Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, OJ L 136, 31.5.2013, p. No. OJ L 176, 27.6.2013, p. 1.

230. The following paragraph 10 is added to Article 105:

" (10) Where reference is made in this Federal Act to Regulation (EU) No 648/2012, unless otherwise provided, Regulation (EU) No 648/2012 on OTC derivatives, central counterparties and trade repositories, OJ L 206, 22.7.2012, p. No. 1., as amended by Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, OJ L 201, 31.7.2012, p. No. OJ L 176 of 27.6.2013 p. 1.

231. The following paragraphs 80 and 81 are added to Section 107:

" (80)

1.

The table of contents with regard to V, VI, and XIV. Section including headings and § § 1a, 21a, 21b and 103 to 103q including headings, as well as § 1a, § 2 Z 1, 1a, 1b, 22, 26, 27, 28, 41, 42, 43, 44, 44a, 44b and 45, § 3 sec. 1, § 3, para. 2, 3, 4a, 5 and 6, § 3 para. 7, § 3 para. 10, § 4 Abs. 3 Z 5a, § 4 § 5 (1) Z 7, § 6 sec. 2 Z 2, § 8, § 9 para. 1 and 2, § 9 para. 3 Z 1, § 9 para. 6, 7, 7a and 8, § 10 para. 4 to 6, § 11 para. 1, para. 2 Z 1, para. 4, para. 5 Z 1 and para. 6, § 13 para. 1, para. 2 Z 3 and 5, para. 4 and para. 5, § 15 para. 1, 1a, 3, 5, 6, 7 and 8, § 16 (1), § 17 (1), (1a), (4) and (5), § 18 (1), (5) and (6), § 20 (4) and (7), § 20a (2), (4) (2) and (5) (1) to (3), § 20b (1) (1) and (2) and (3), Article 21 (1), (1) and (2), § § 21a and 21b. including headlines, the title of the fifth section, § § 22, 22a and 23d, including headlines, § § 24 and 24a, including headlines, the title of VI. Section, the title of the 1. Subsection of VI Section, § 25, the title of the second sub-section of the VI. Section, § § 26, 26a, 26b, 27 and 27a together with headlines, the title of the 3. Subsection of VI Section, section 28a (2a) to (2c), subsection 3 (2), (5) and (6), § § 28b and 29, together with headlines, the title of the 4. Subsection of VI Section, the title of § 30, § 30 (1) to (3), (4) (2), (7a) to (10), § § 30a, 30b, 30c, 30d, including headlines, § 39 (2), (2b) to (5), § 39c (2) and (3), § 39d, including the title, § 40 (2), § 42 (6) (6) (3) and (4), § 43 (1) and (3), § 57 (1) and (5), § 59 (3) and (7), § 59a, § 60 (1) and (3), § 61 (2), § 62a, § 63 (2), (3) and (3a), § 63 (4) (2), (3), (6) and (9) to (11), § 63 (4a), § 64 (1) and (2) to (6), Section 65 (2) (1) and (2a) Z 1, § 65a, including the Heading, the title of the XIV. Section, the title of § 69, § 69, para. 1, 2, 3a, 3b and 5, the title of § 69a, § 69a (4), § 69b and the title, the title of § 70, § 70 (1) Z 1, para. 1b, 1e, 2 and 4 to 4d, the title of § 70a, § 70a para. 1, 2, 4 and 5, the title of § 71, the title of § 72, § 73 para. 1 Z 2, 3, 8, 9, 12, 16 and 17, § 73 para. 3, 4 and 4a Z 3, § 73a, § 74, § 74b including the title, the title of § 75, § 75 para. 1 Z 1, 3 and 5, § 75 para. 1a, 2 and 5, § 75 para. 7 Z 4, the Title of § 77, § 77 (4) (15) and (19), (5), subsection (6), (2) to (8) and (7), the title of § 77a, § 77a (1) and (4), § 77b (1), (2) and (3) (4), (4), (4), (3) to (6), § No. 77c para. 1, 1a, 2, 2a and 5 to 9, § 79 para. 2, para. 3 Z 2 and para. 6, § 81 para. 3, § 93 para. 5 Z 1, 1a, 2, 8 and 12, § 98 paragraph 1a, para. 2 Z 1, 2, 7, 8 and 11, para. 5a and 6, § 99 para. 1 Z 3, 4 and 6a, § 99c, § 99d para. 1, 2, 4 and 5, § 99e bis § 99g § 99g, § 101a, § 103 Z 16, § 103q, § 105 (5) and (10), the Z 3, 6a, 7 lit. c, 7 lit. d sublit. cc, 8a, 8b, 9a, 11 lit. b, 12 lit. a, 12 lit. d the Appendix to § 39b, the Z 6a, 7, 8, 8a, 8b and 12 of Appendix 2 to Article I § 43, Part 1 Passiva, the Z 4 and 5 of Appendix 2 to Article I, Section 43, Part 1 Passiva Item under the balance sheet and Section IX of Appendix 2 to Article I, Section 43, Part 2 in the Constitution of the Federal Law BGBl. I n ° 184/2013 are due to 1. Jänner 2014 in force.

2.

§ 5 (1) Z 9a and Section 28a (5) Z 5 in the version of the Federal Law BGBl (Federal Law Gazette). I n ° 184/2013 will enter into force on 1 July 2014.

3.

§ 3 (2a), the title of § 74, § 74a (1), First sentence, Z 2 and 3, and Section 74a (2) to (4) as amended by the Federal Law BGBl. I No 184/2013 will enter into force on 31 December 2014.

4.

Section 74a (1) (1) (1), in the version of the Federal Law BGBl. I No. 184/2013 will enter into force on 31 December 2015.

5.

§ § 23 to 23c together with transcripts in the version of the Federal Law BGBl. I n ° 184/2013 are due to 1. Jänner 2016 in force.

6.

The table of contents with regard to XXIII. Section including heading and sections 102 and 102a, as well as § 2 Z 2, 3, 5a to 7, 9 to 12, 15, 16, 23 to 25b, 30 to 32, 34, 36, 37, 48, 53, 56 to 57e, 60 to 70 and 76, § 5 (4), § 21c to § 21h, including headlines, the headings of the 1. to 6. Subsection of the V. Section, section 24b, including headline, the headings of the 7. up to 9. Subsection of the V. Section, § 29a, including the title, § 30 (4) Z 3, § 42 (4) Z 2 and 6, § 63 (4) Z 7, § 69 (6), § 70 (11) § 73 (1) Z 17a to 19, § 98 paragraph 2 Z 3, 4, 4b and 9, section 99 (1) Z 5, the title of the XXIII. Section, § § 102 and 102a, § 103 Z 9 lit. b and c, the Assets 1 and 2 to § 22 and the Z 7 of the Annex 2 to Article I § 43, Part 1 Passiva Items under the balance sheet shall expire on 31 December 2013.

7.

The table of contents with regard to 1. Subsection of VI Section with title, § 3 para. 2 Z 7, the title of the 1. Subsection of VI Section, § 25 with title and § 74 paragraph 6 Z 3 lit. a in the version of the Federal Law BGBl. I No 184/2013 will expire on 31 December 2014.

(81) § 98 (1), Section 98 (5) and Section 99d (3) in the version of the Federal Law BGBl (Federal Law Gazette). I n ° 184/2013 are due to 1. Jänner 2014 in force. "

232. Annexes 1 and 2 to § 22 together with the respective headings are not required.

233. In Z 3 of the Appendix to § 39b, the phrase in the first sentence shall be "for their implementation" through the phrase "for the monitoring of their implementation" replaced.

234. After Z 6 of the Appendix to § 39b the following Z 6a is inserted:

" 6a.

The remuneration policy, taking into account national practices, distinguishes between criteria for fixing the fixed and variable remuneration components. In particular, this distinction should be made according to the following criteria:

a)

Criteria for the fixing of the fixed remuneration component:

aa)

relevant professional experience and

bb)

the specific activities carried out in the respective organisational structure, taking into account the responsibility associated with it;

b)

Criteria for setting the variable remuneration component:

aa)

sustainable and risk-adjusted services as well as

bb)

Services beyond the specified performance targets. "

235. Z 7 lit. c of the Appendix to § 39b reads:

" (c)

A guaranteed variable remuneration is not in accordance with sound risk management or the principle of performance-oriented remuneration and may not form part of future remuneration systems; exceptionally, a guaranteed variable remuneration may be used. in connection with the recruitment of new staff, if it is limited to the first year of employment and the credit institution has a sound and sufficient amount of own resources. "

236. Z 7 lit. d sublit. cc of the Appendix to § 39b reads:

" cc)

Business managers shall be granted a variable remuneration only if justified and appropriate. "

237. After Z 8 of the Appendix to § 39b, the following Z 8a and 8b are inserted:

" 8a.

Credit institutions shall have an appropriate relationship between fixed and variable components of total remuneration. The amount of the variable remuneration component must not exceed the amount of the fixed remuneration component.

8b.

By way of derogation from Z 8a, the variable remuneration component may be increased to up to 200 vH of the fixed remuneration component by a decision of the shareholders or other shareholders, if the following conditions are met:

a)

The resolution has to be preceded by a comprehensive recommendation of the credit institution which is responsible for the reasons for the increased variable remuneration and its scope, including the number of employees concerned, their functions, and the number of employees affected. expected effects in relation to the receipt of a sound own resources of the credit institution.

b)

The credit institution shall immediately inform the FMA of the recommendation made. This information shall include, in particular, the proposed increase in the variable remuneration component and the justification thereof. It must also be stated that this increase does not affect the compliance with the obligations of the credit institution concerned pursuant to Regulation (EU) No 575/2013 or this Federal Law, including the mandatory Own resources requirements, arise.

c)

The shareholders or other shareholders shall be informed of the proposed decision in advance by the credit institution, subject to a reasonable period of time.

d)

Effective decision-making requires the presence of at least half of the voting capital and a majority voting of 66 vH. By way of derogation, an effective decision may be taken in the event of non-attendance of the necessary attendance quorum by a majority vote of 75 vH. Employees of a credit institution directly affected by an increase in the variable remuneration component are excluded from both direct and indirect voting rights.

e)

The credit institution shall immediately inform the FMA of the decision taken. This information has, in particular, the increased maximum ratio between the fixed and variable compensation components. The FMA analyzes the national remuneration practices based on this information and sends the result of this analysis to the EBA each year. "

238. After Z 9 of the Appendix to § 39b the following Z 9a is inserted:

" 9a.

If, as part of the total remuneration, a credit institution takes over payments which would have to be made on the occasion of an early termination of the contract by an employee on the basis of a contractual obligation on the part of the employee concerned, to another company, these payments shall be in accordance with the long-term interests of the credit institution, including retention, repayment and recovery and recovery agreements. "

239. Z 11 lit. b of the Appendix to § 39b reads:

" (b)

Capital instruments complying with the criteria of Art. 52 or Article 63 of Regulation (EU) No 575/2013 or other instruments which are fully converted into capital instruments pursuant to Article 52 of Regulation (EU) No 575/2013 or which are can be written off and that the credit institution's creditworthiness is adequately reflected and suitable as variable remuneration instruments. "

240. Z 12 lit. a of the Appendix to § 39b reads:

" (a)

The acquisition or payment of the variable remuneration, including the repaid portion, may be effected only if, in view of the financial position of the institution as a whole, it is sustainable and, following the performance of the credit institution, the the business department and the person concerned. Without prejudice to the general principles of civil and labour law, the entire variable remuneration shall be substantially limited if the financial or earnings situation of the credit institution is deteriorated or negative. In this context, account should be taken of both current charges and reduced disbursements of recently earned amounts, including those based on the Malus and Withdrawal Agreements;

Malus or recovery agreements may be concluded up to the level of the total amount of the variable remuneration component. In doing so, the credit institutions shall set out precise criteria for the application of the Malus and recovery rules. These criteria shall, in particular, take into account situations in which employees have participated in, or have been responsible for, acts which have led to significant losses, as well as situations in which: Employees have not fulfilled the relevant professional suitability or personal reliability requirements. "

241. In Z 12 lit. d the Appendix to § 39b shall be after the phrase "Requirements of this Federal Law" the phrase "or Regulation (EU) No 575/2013" inserted.

242. In Appendix 2 to Article I § 43, Part 1 Passiva, the word group shall be: " 6. A fund for general banking risks " through the word group " 6a. Fund for general banking risks " replaced.

243. Z 7, 8 and 12 of Appendix 2 to Article I § 43, Part 1 Passiva:

" 7.

Supplementary capital referred to in Part 2, Title I, Chapter 4 of Regulation (EU) No 575/2013

8.

Additional core capital referred to in Part 2, Title I, Chapter 3 of Regulation (EU) No 575/2013

12.

Adhesive residue pursuant to Section 57 (5) of the BWG "

244. After Z 8, the following Z 8a and 8b are inserted in Appendix 2 to Article I § 43, Part 1 Passiva:

" 8a.

Compulsory convertible bonds according to § 26 BWG

8b.

Instruments without the right to vote according to Article 26a of the Federal Elections

245. Z 4 and 5 the Annex 2 to Article I (43), part 1 of the Passiva item under the balance sheet:

" 4.

Eligible own resources according to Part 2 of Regulation (EU) No 575/2013 , including supplementary capital in accordance with Part 2, Title I, Chapter 4 of Regulation (EU) No 575/2013

5.

Own resources requirements in accordance with Article 92 of Regulation (EU) No 575/2013 of which: own resources requirements according to Art. 92 (1) (lit). a to c of Regulation (EU) No 575/2013 "

246. Z 7 of Appendix 2 to Article I § 43, Part 1 Passiva Items below the balance sheet.

247. In Annex 2 to Article I (43), Part 2, Section VIII., Section IX. attached:

" IX. RETURN ON CAPITAL "

Article 3

Amendment of the Bausparkassengesetz

The Bausparkassengesetz-BSpG, BGBl. I n ° 1993/532, as last amended by the Federal Law BGBl. I No 35/2012, shall be amended as follows:

1. In § 2 para. 1 Z 2 lit. b becomes the word group "the eligible own resources (Section 23 of the Banking Act)" through the word group "the eligible own resources (Part 2 of Regulation (EU) No 575/2013)" replaced.

2. The following paragraph 1 g is added to § 18:

" (1g) § 2 para. 1 Z 2 lit. b, the Z 10 to 11 and Z 15 of the Appendix to Article III, § 12, Part 1 Passiva and the Z 3 and 4 of the Appendix to Article III, § 12, Part 1 Passiva Posten under the balance sheet in the version of the Federal Law BGBl. I n ° 184/2013 are due to 1. Jänner 2014 in force. "

3. In the Annex to Article III, Section 12, Part 1 of Passiva, Z 10 and 11 shall be replaced by the following Z 10 to 11:

" 10.

Supplementary capital referred to in Part 2, Title II, Chapter 4 the Regulation (EU) No 575/2013

10a.

Additional core capital referred to in Part 2, Title II, Chapter 3 the Regulation (EU) No 575/2013

10b.

Compulsory convertible bonds according to § 26 BWG

11.

Instruments without the right to vote according to Article 26a of the Federal Elections

4. Z 15 of the Appendix to Article III, § 12, Part 1 Passiva reads:

" 15.

Adhesive residue pursuant to Section 57 (5) of the BWG "

5. Z 3 and 4 of the Appendix to Article III, § 12, Part 1 Passiva Item under the balance sheet:

" 3.

Eligible own resources according to Part 2 of Regulation (EU) No 575/2013 , including supplementary capital in accordance with Part 2, Title II, Chapter 4 the Regulation (EU) No 575/2013

4.

Own resources requirements in accordance with Article 92 of Regulation (EU) No 575/2013 of which: own resources requirements according to Art. 92 (1) (lit). a to c of Regulation (EU) No 575/2013 "

Article 4

Amendment of the 1989 Stock Exchange Act

The Stock Exchange Act 1989-BörseG 1989, BGBl. I n ° 555/1989, as last amended by the Federal Law BGBl. I No 70/2013, is amended as follows:

1. § 1 (5) reads:

" (5) Furthermore, insofar as nothing else is arranged in this Federal Act, the definitions of the BWG, the WAG 2007 and the the Regulation (EU) No 575/2013. "

2. In § 8 (4) the reference "§ 221 HGB" by reference "§ 221 UGB" replaced.

3. In § 15 paragraph 1 Z 2 lit. a becomes the reference " Art. 3 Number 1 lit. p of Directive 2006 /49/EC " by reference " Art. 4 (1) Point 4 of Regulation (EU) No 575/2013 " replaced.

4. In § 15 paragraph 1 Z 2 lit. b becomes the reference "Directive 2006 /49/EC" by reference "Regulation (EU) No 575/2013" replaced.

5. In § 15 paragraph 1 Z 2 lit. c becomes the reference " Art. 6 of Directive 2006 /49/EC " by reference " Art. 30 of Directive 2013 /36/EU " replaced.

6. In § 15 para. 1 Z 3 the reference " § 2 Z 31 lit. b BWG " by reference " Art. 4 (1) Point 25 of Regulation (EU) No 575/2013 " replaced.

7. In § 15 (4), the reference "§ 2 Z 48 BWG" by reference " Art. 300 N ° 3 of Regulation (EU) No 575/2013 " replaced.

8. In § 15 (5) the reference "§ 2 Z 32 BWG" by reference " Art. 4 (1) Point 72 of Regulation (EU) No 575/2013 " replaced.

9. § 25 (9) reads:

" (9) Data obtained by the Authority in accordance with paragraph 5 or 6 may, in the event of any other nullity, to the detriment of the accused person or the secondary party in the exclusive course of financial mismanagement, with the exception of those in the jurisdiction of the courts. in accordance with § 38a and § 39 of the FinStrG, the procedures shall not be used for the financial operations of smuggling or the evasion of taxes on entry or exit charges and the financial transactions. In the case of the Authority (par. 5) merely a suspicion of a punishable offence after the first sentence, so it has to refrain from the ad according to § 78 StPO or § 81 of the Financial Criminal Law (FinStrG), BGBl. 129/1958. "

10. In § 48 para. 3b Z 2, the reference "§ 2 Z 32 BWG" by reference " Art. 4 (1) Point 72 of Regulation (EU) No 575/2013 " replaced.

11. In § 48a (1) Z 12, the reference " Art. 4 Z 1 of Directive 2006 /48/EC " in each case by the reference " Art. 4 (1) Point 1 of Regulation (EU) No 575/2013 " replaced.

12. In § 48d (4), the reference "Section 228 (3) of the HGB" by reference "§ 228 (3) UGB" replaced.

13. § 48f (1) Z 2 reads:

" 2.

"credit institution" means any legal person under the terms of Article 4 (1) (1) of Regulation (EU) No 575/2013; "

14. § 57 (2) reads:

" (2) Free brokers appointed by the stock exchange company in accordance with paragraph 1 shall be obliged to operate bank transactions in accordance with Article 1 (1) (1) (7) of the Federal Elections Act (BWG) with other credit institutions entitled to these transactions (Article 1 (1) BWG), CRR credit institutions (§ 1a BWG) or with other credit institutions with a view to their business. investment firms in accordance with Article 4 (1) (1) (1) of Directive 2004 /39/EC shall be entitled to do so. In addition, they may not engage in banking transactions. "

15. In § 66 (2), the reference " § 2 Z 35 lit. a and b BWG " by reference "§ 3 para. 2 Z 30 InvGF 2001" replaced.

16. In § 68 (1) Z 9, the reference "§ 2 Z 32 BWG" by reference " Art. 4 (1) Point 72 of Regulation (EU) No 575/2013 " replaced.

17. § 81a (1) Z 11 reads:

" 11.

"Administrative company" is a company according to Art. 2 para. 1 lit. (b) Directive 2009 /65/EC. "

18. § 81a (1) Z 13 reads:

" 13.

"credit institution" means a company in accordance with Article 4 (1) (1) of Regulation (EU) No 575/2013 . "

Section 83 (5) reads as follows:

" (5) The obligations of issuers of shares pursuant to para. 1 to 3 are also applicable to issuers of participation certificates in accordance with Section 23 (4) in the version prior to the BGBl. No 184/2013, which comply with Article 26a of the Federal Elections Act and Section 73c (1) of the VAG, as well as to the issuers of securities relating to the right of enjoyment in accordance with Section 174 of the German Stock Corporation Act (AktG). "

20. In § 101a, the following paragraphs 4 to 6 are added:

" (4) Where reference is made in this Federal Act to Directive 2013 /36/EU, unless otherwise provided, Directive 2013 /36/EU on access to the activities of credit institutions and the supervision of credit institutions, and investment firms, amending Directive 2002/87/EC and repealing Directives 2006 /48/EC and 2006 /49/EC, OJ L 201, 31.7.2006, p. No. OJ L 176, 27.6.2013 p. 338.

(5) Where reference is made in this Federal Act to Regulation (EU) No 575/2013, unless otherwise provided, the version of Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms and on the Amendment of Regulation (EU) No 648/2012, OJ L 206, 22.7.2012. No. OJ L 176, 27.6.2013 p. 1.

(6) Where reference is made in this Federal Act to Directive 2009 /65/EC, unless otherwise provided for, Directive 2009 /65/EC of the European Parliament and of the Council on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) (OJ L 327, 31.12.2002, p. No. (OJ L 302, 17.11.2009, p. 32) as amended by Directive 2011 /61/EU (OJ L 196, 27.7.2011, p No. OJ L 174, 1 July 2011, p. 1) "

(21) The following paragraph 38 is added to § 102:

" (38) § 1 para. 5, § 8 para. 4, § 15 para. 1 Z 2 lit. a to c, § 15 para. 1 Z 3, § 15 para. 4 and 5, § 25 para. 9, § 48 paragraph 3b Z 2, § 48a para. 1 Z 12, § 48d para. 4, § 48f para. 1 Z 2, § 57 para. 2, § 66 para. 2, § 68 para. 1 Z 9, § 81a para. 1 Z 11 and 13, § 83 para. 5, § 101a para. 4 to 6 and Z 6 to 7 of the annex § 88 (2) in the version of the Federal Law BGBl. I n ° 184/2013 are due to 1. Jänner 2014 in force. "

22. In the annex to section 88 (2), interim report for credit institutions Passiva, Z 6 and 7 shall be replaced by the following Z 6 to 7:

" 6.

Supplementary capital referred to in Part 2, Title I, Chapter 4 of Regulation (EU) No 575/2013

6a.

Additional core capital referred to in Part 2, Title I, Chapter 3 of Regulation (EU) No 575/2013

6b.

Compulsory convertible bonds according to § 26 BWG

7.

Instruments without the right to vote according to Article 26a of the Federal Elections

Article 5

Amendment of the E-Money Act 2010

The E-Money Act 2010-E-Money Act 2010, BGBl. I n ° 107/2010, as last amended by the Federal Law BGBl. I No 70/2013, is amended as follows:

1. In Section 1 (2) (1) (1), the word group shall be " Credit institutions within the meaning of Section 1 of the Banking Act-BWG, BGBl. No 532/1993 as well as credit institutions pursuant to § 9 BWG " through the word group " Credit institutions and CRR credit institutions according to § 1 and § 1a Z 1 Banking Act-BWG, BGBl. N ° 532/1993 ' replaced.

2. In § 1 para. 2 Z 2 the reference " § 2 Z 6 lit. a BWG " by reference " Art. 4 (1) Point 43 of Regulation (EU) No 575/2013 " replaced.

3. In § 2 (2) (1) (1), the word group shall be "Credit institutions within the meaning of Section 1 of the BWG and credit institutions pursuant to § 9 BWG" through the word group "Credit institutions and CRR credit institutions in accordance with § § 1 and 1a BWG" replaced.

4. In § 8 (1) the reference "§ 2 Z 3 BWG" by reference " Art. 4 (1) Point 36 of Regulation (EU) No 575/2013 " replaced.

5. In § 9 (1) the word group shall be "pursuant to § 12 (2), (4), (5) and (6) and section 14 (1) to (4) ZaDiG" through the word group "pursuant to § 12 para. 2, 4, 5 to 7 and § 14 para. 1 to 4 ZaDiG" replaced.

6. § 11 (1) and (2) are:

(1) The hard core capital referred to in Part 2, Title II, Chapter 2 of Regulation (EU) No 575/2013, shall not at any time amount to less than EUR 350 000.

(2) The hard core capital (Part 2, Title II, Chapter 2 of Regulation (EU) No 575/2013) of the E-Money Institute shall not be subject to the higher of the cases referred to in paragraphs 1 and 3 or, for the first sentence of paragraph 4, not less than the higher of the the amounts referred to in paragraphs 1 and 4. "

7. In § 14 (1), the reference " Art. 4 (5) of Directive 2006 /48/EC " by reference " Art. 4 (1) Point 26 of Regulation (EU) No 575/2013 " replaced.

8. In § 22 (2), the reference "§ 60 para. 2 to 7 ZaDiG" by reference "§ 60 para. 2 to 8 ZaDiG" replaced.

9. § 37 (2) (2) and (7) are:

" 2.

Directive 2013 /36/EU on access to the activities of credit institutions and the supervision of credit institutions and investment firms, amending Directive 2002 /87/EC and repealing Directives 2006 /48/EC and 2006 /49/EC, OJ L 73, 14.3.2006, p. No. OJ L 176, 27.6.2013 p. 338;

7.

Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, OJ L 136, 31.5.2013, p. No. OJ L 176, 27.6.2013 p. 1;

10. The following paragraph 5 is added to § 41:

" (5) § 1 paragraph 1 Z 1, § 1 para. 2 Z 2, § 2 para. 2 Z 1, § 8 para. 1, § 9 para. 1, § 11 para. 1 and 2, § 14 para. 1, § 22 para. 2, § 37 para. 2 Z 2 and 7 in the version of the Federal Law BGBl. I n ° 184/2013 are due to 1. Jänner 2014 in force. "

Article 6

Amendment of the Financial Conglomerate Act

The Financial Conglomerates Act-FKG, BGBl. I n ° 70/2004, as last amended by the Federal Law BGBl. I No 35/2013, shall be amended as follows:

1. § 2 Z 1 lit. a is:

" (a)

a credit institution as referred to in Article 4 (1) (1) of Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, OJ L 136, 31.5.2013, p. No. OJ L 176, 27.6.2013 p. 1, and "

2. In § 2 Z 1 lit. b becomes the phrase " Art. 1a (2) of Directive 85 /611/EEC (OJ L 175, 5.7.1985 No. 3), as amended by Directive 2001 /107/EC (OJ L 375, 31.12.1985, p. No. OJ No L 41, 21. 20) or a company established in a third country which, in accordance with Article 5 (1) of Directive 85 /611/EEC, " through the phrase " Art. 2 para. 1 lit. (b) Directive 2009 /65/EC (OJ L 327, No. 32), as amended by Directive 2011 /61/EU (OJ L 302, 15.11.2011, p. No. 1) or a company established in a third country and which is subject to the provisions of Directive 2009 /65/EC ' replaced.

3. In § 2 Z 2, the word order shall be " Art. 6 of Directive 73 /239/EEC (OJ L 73, 27.3.73 No. 3), Article 4 of Directive 2002 /83/EC (OJ L 228, 13.8.2002, p. No. 1) or Article 1 (b) of Directive 98 /78/EC (OJ L 327, 30.12.1998, p. No. OJ L 330 of 5 December 1998, p. 1) through the phrase " Art. 13 Z 1, 2 or 3 of Directive 2009 /138/EC (OJ L 136, 31.3.2009, p. No. 1) as amended by Directive 2012 /23/EU (OJ L 327, 27.12.2012, p. No. L 249 of 14 September 2012, p. 1) " replaced.

4. In § 2 Z 3, the word order shall be " Art. Article 1 (2) of Directive 93 /22/EEC No. 27), including the one set out in Article 2 (4) of Directive 93 /6/EEC (OJ No L 141, 11.6.1993, p. No. 1) referred to in Article 1 of the Regulation. through the phrase " Art. Article 4 (1) (1) of Directive 2004 /39/EC (OJ L 344, 27. No. 1), as amended by Directive 2010 /78/EU (OJ L 145, 30.4.2010, p. No. 120), including the undertakings referred to in Article 4 (25) of Regulation (EU) No 575/2013, or an undertaking which has its registered office in a third country and which, pursuant to Directive 2004 /39/EC, is authorised to: if its registered office is in a Contracting State. " replaced.

5. In accordance with § 2 Z 3, the following Z 3a is inserted:

" 3a.

"Alternative investment fund manager" means a manager of alternative investment funds in accordance with Article 4 (1) (b), (l) and Directive 2011 /61/EU or a company which has its registered office in a third country and which is subject to the provisions of Directive 2011 /61/EU would require an authorisation if its registered office was in the Union. "

6. In § 2 Z 4, the word order shall be " Art. 1 (c) of Directive 98 /78/EC " through the phrase " Art. 13 Z 4, 5 or 6 of Directive 2009 /138/EC or a special purpose vehicle according to Art. 13 Z 26 of Directive 2009 /138/EC " replaced.

7. § 2 Z 5 reads:

" 5.

"Regulated entities" shall be credit institutions, insurance undertakings, reinsurance undertakings, investment firms and alternative investment fund managers. "

8. In § 2 Z 7 lit. a becomes the phrase "or undertakings with ancillary banking services referred to in Article 1 (5) and (23) of Directive 2000 /12/EC, as well as investment firms or financial institutions, in accordance with Article 1 (5) of Directive 2000 /12/EC" through the phrase " or providers of ancillary services in accordance with Article 4 (1) (18) of Regulation (EU) No 575/2013, investment firms pursuant to Article 4 (1) (2) of Regulation (EU) No 575/2013 and asset management companies as defined in Article 2 (1) (lit). b of Directive 2009 /65/EC " replaced.

9. In § 2 Z 7 lit. b becomes the phrase " Art. 1 (i) of Directive 98 /78/EC " through the phrase " Art. 13 Z 1, 2, 4 or 5 or of Art. 212 (1) lit. f of Directive 2009 /138/EC " replaced.

10. In accordance with § 2 Z 7 last sentence, the following sentence shall be added:

" Managers of an alternative investment fund shall be credited within the group of the sector to which they belong. If they do not belong exclusively to an industry within the group, they will be attributed to the financial sector with the smaller share. "

11. In § 2 Z 9 and Z 10, the reference "§ 244 HGB" by reference "§ 244 UGB" replaced.

12. In § 2 Z 11, the reference "Section 228 (1) and (2) of the HGB" by reference "Section 228 (1) and (2) of the UGB" replaced.

13. In § 2 Z 12, the word order shall be "connected" through the phrase ", including any sub-groups" replaced.

14. In accordance with § 2 Z 12 the following Z 12a is inserted:

" 12a.

"Control" means a relationship between a parent undertaking and a subsidiary pursuant to Section 244 of the UGB, or a similar relationship between a natural or legal person and a company. "

15. § 2 Z 13 reads:

" 13.

"Close connection" means a situation in which two or more natural or legal persons are connected by a control relationship or participation or situation in which two or more natural or legal persons are connected by a control relationship is permanently connected to the same person. "

16. § 2 Z 14 reads:

" 14.

"financial conglomerate" means a group or subgroup where a regulated entity is at the top of the group or subgroup, or where at least one of the subsidiaries in that group or subgroup is a supervising entity; , and which satisfies the following conditions:

a)

in the case where a regulated entity is at the top of the group or subgroup:

aa)

this company is a parent company of a financial industry company, a company that holds a stake in a financial sector company, or a company that has a relationship with a financial sector company in accordance with Article 12 (1) of Directive 83 /349/EEC,

bb)

at least one of the undertakings in the group or sub-group is a business of the insurance industry and at least one is a banking and investment services company; and

cc)

the consolidated or aggregated activities of the group or sub-group of undertakings active in the insurance sector and of the group or sub-group of undertakings active in the banking and investment services sector are in each case as to be considered substantially in accordance with § 3, para. 2 and 3;

b)

in the event that no regulated entity is at the top of the group or sub-group:

aa)

the focus of the group's or sub-group's activities in accordance with Section 3 (1) is in the financial sector,

bb)

at least one of the undertakings in the group or sub-group is a business of the insurance industry and at least one is a banking and investment services company; and

cc)

the consolidated or aggregated activities of the group or sub-group of undertakings active in the insurance sector and of the group or sub-group of undertakings active in the banking and investment services sector are in each case as is to be considered in accordance with § 3, para. 2 and 3.

17. In § 2 Z 16, the word order shall be "insurance undertakings or investment firms" through the phrase "insurance undertakings, reinsurance undertakings, investment firms or alternative investment fund managers" replaced.

18. In § 2 Z 17 lit. a becomes the phrase "the respective regulated entities of the financial conglomerate" through the phrase "the respective regulated entities of the financial conglomerate, in particular the parent undertaking in a sector at the top of the list" replaced.

19. In § 2 Z 17 lit. b becomes the reference " (OJ C 327 No. OJ L 035, 11 February 2003, p. 1) by reference " (OJ C 327 No. 1), as amended by Directive 2011 /89/EU (OJ L 311, 28.11.2011, p. No. (OJ L 326, 8 December 2011, p. 113) replaced.

20. In § 2 Z 17 lit. c will be the phrase "In this context," through the phrase " in this case, until the adoption of the provisions of Article 21a (1) (1). Technical regulatory standards referred to in Directive 2002 /87/EC replaced.

21. § 2 Z 19 reads:

" 19.

"Risk Concentration" means all exposures with default risk, where the loss potential is large enough to endanger the solvency or general financial position of the regulated entities in the financial conglomerate, Whether the risk of default is due to a counterparty risk/credit risk, an investment risk, an insurance risk, a market risk, other risks, or a combination of these risks or through interactions between such risks is conditional. "

22. In § 3 (1) the reference is deleted " according to § 2 Z 14 sublit. bb ".

23. In § 3 (2) the reference is deleted " according to § 2 Z 14 lit. c ".

Section 3 (3) reads as follows:

" (3) It is also possible to assume significant cross-sectoral activities if the balance sheet total of the financial sector represented in the group with the smaller share is 6 billion euros. EUR. If the group does not reach the threshold referred to in paragraph 2, but the threshold referred to in the first sentence or as referred to in paragraph 2 above, the balance sheet total of the financial sector represented in the group with the smaller share shall not be greater than 6 Billion In addition, the FMA may, with the consent of the other relevant competent authorities, decide that the group is not to be regarded as a financial conglomerate or that § § 9, 10 or 11 shall not apply if it considers that the inclusion of of this group within the scope of this federal law or of the Regulation (EU) No 575/2013 or the application of such provisions is not necessary or would be inappropriate or misleading to the objectives of supplementary supervision. The FMA shall inform the other competent authorities of decisions pursuant to this paragraph and shall publish them if there are no exceptional circumstances. "

Section 3 (4) Z 1 reads as follows:

" 1.

in the cases referred to in Article 6 (6), a company shall not be taken into account in the calculation of the shares, unless the undertaking has been moved from a Contracting State to a third country and it has been shown that such a move has been carried out in order to: -to withdraw supervision; "

26. In accordance with § 3 (4) (2), the following Z 3 is added:

" 3.

to exclude one or more participations in the financial sector represented in the group with the smaller share, if these holdings determine the classification as a financial conglomerate, but overall with regard to the objectives of the financial conglomerate; additional supervision is only of secondary importance. "

27. In Section 3 (5), the phrase "the structure of the earnings or the activities of the balance sheet" through the phrase "the structure of the earnings, the activities or the total value of the assets under management of the assets" replaced.

28. In accordance with Section 3 (8), the following paragraph 9 is added:

"(9) Each year, the FMA shall re-examine the exemptions from the supplementary supervision and review the quantitative indicators and the risk-based assessments applied to the financial groups."

29. In § 4 (2) the word shall be deleted "if necessary" and the phrase 'so it shall inform the other competent authorities' is due to the phrase "so it shares this with the other competent authorities and the Joint Committee of European Supervisory Authorities in accordance with Regulation (EU) No 1093/2010, of Regulation (EU) No 1094/2010 and of Regulation (EU) No 1095/2010" replaced.

30. § 4 (3) reads:

" (3) The FMA, as the competent authority responsible for the supplementary supervision, has the parent undertaking at the head of a group or, in the absence of such a group, the regulated entity with the highest balance sheet total in the group with the higher share of the represented financial sector to inform the group that the group was classified as a financial conglomerate. The FMA, as the competent authority responsible for the supplementary supervision, shall have the competent authorities which have authorised the regulated entities in the group and the competent authorities of the Contracting State where the mixed financial holding company, as well as the Joint Committee of European Supervisory Authorities. "

31. In § 5, the phrase in paragraph 1 shall be the following: "domestic regulated EEA companies" through the phrase "Regulated entities with registered offices in Germany" and in paragraphs 1 and 4, the word order "domestic regulated entities" through the phrase "Regulated entities with registered offices in Germany" replaced.

32. In § 5 (4) the reference " § 2 Z 14 lit. b and c " by reference " § 2 Z 14 lit. a sublit. bb or lit. b sublit. bb and lit. a sublit. cc or lit. b sublit. cc " replaced.

33. In accordance with § 5 (7), the following paragraph 8 is added:

" (8) Those under this federal law and after the 3. cooperation, the performance of the tasks referred to in Article 11 (1) to (3) and Article 12 of Directive 2002/87/EC, as well as, where appropriate, the coordination and cooperation with the in each case, competent supervisory authorities of third countries shall take the appropriate form and in compliance with the obligations of confidentiality and of Union law by colleges which, pursuant to Article 116 of Directive 2013 /36/EU or Article 248 (2) of Directive 2009 /138/EC. The coordination agreements referred to in Article 11 (1) (2) of Directive 2002/87/EC are separate into the written coordination agreements concluded in accordance with Art. 115 of Directive 2013 /36/EU or Article 248 of Directive 2009 /138/EC , As the chairman of a college established pursuant to Article 116 of Directive 2013 /36/EU or Article 248 (2) of Directive 2009 /138/EC, the FMA must decide which other competent authorities to take part in a meeting or activity of the shall participate. '

Section 6 (2) is replaced in Z 2 by a point and Z 3 is deleted.

35. In § 8, paragraph 3 is deleted. In paragraph 4, the reference "pursuant to paragraph 1 (1) (4), (2) (4) or (3) (4)" by reference "pursuant to paragraph 1 Z 4 or 2 (2) Z 4" , and the product shall be replaced by "(3)" .

36. In accordance with Article 11 (4), the following paragraph 5 is added:

The regulated entities shall, at the level of the financial conglomerate, either fully or by reference to equivalent information, have a description of their legal structure, as well as the governance and organisational structure of the regulated entities. "

37. In accordance with § 11, the following § 11a including the heading is inserted:

" Stress tests

§ 11a. The FMA shall carry out appropriate and regular stress tests in financial conglomerates as the competent authority responsible for the supplementary supervision. As the competent authority responsible for the supplementary supervision, the FMA shall communicate the results of the Union-wide stress tests to the Joint Committee of European Supervisory Authorities in accordance with Article 9b (2) of Directive 2002/87/EC. "

38. § 12 para. 3 Z 1 reads:

" 1.

Disclosure of the legal structure and the governance and organisational structure of the Group, including all regulated entities associated with the financial conglomerate, non-regulated subsidiaries and significant entities branches, the holder of qualified participations at the level of the parent undertaking at the top and the competent authorities for the regulated entities in the group; "

39. § 12 (8) reads:

" (8) The FMA shall cooperate with the Joint Committee of the European Supervisory Authorities for the purposes of supplementary supervision and shall be the Joint Committee of the European Supervisory Authorities in accordance with the procedure laid down in Article 35 of the Regulation (EU) No 1093/2010, of Regulation (EU) No 1094/2010 and of Regulation (EU) No 1095/2010, to provide all the information required for the performance of its tasks. The FMA, as the authority responsible for the supplementary supervision, has the Joint Committee of the European Supervisory Authorities, as set out in Section 11 (3). 4 and § 12 (3) (1) of the above-mentioned information. "

40. In § 14, para. 2, after the first sentence of the sentence, " In addition, at the level of the financial conglomerate of the FMA, they have details of their legal structure, as well as of their governance and organizational structure, including all regulated entities, non-regulated subsidiaries, and of major branches. " inserted.

(41) The following paragraph 8 is added to § 18:

" (8) § 2 Z 1 to 5, 7, 9 to 14, 16, 17 and 19 § 3 para. 1 to 5 and 9, § 4 para. 2 and 3, § 5 para. 1, 4 and 8, § 6 para. 2 Z 2, § 8 para. 4, § 11 paragraph 5, § 11a, § 12 para. 3 Z 1 and para 8 and § 14 para. 2 in the version of the Federal Law BGBl. I n ° 184/2013 are due to 1. Jänner 2014 in force. § 6 (2) (3) and § 8 (3) in the version of the Federal Law Gazette (BGBl). I No 184/2013 shall expire on 31 December 2013. '

Article 7

Amendment of the Financial Market Supervisory Authority Act

The Financial Market Supervisory Authority Act-FMABG, BGBl. I n ° 97/2001, as last amended by the Federal Law BGBl. I No 160/2013, shall be amended as follows:

1. § 13 together with headline reads:

" Financial Stability Board

§ 13. (1) A financial market stability body shall be established at the Federal Ministry of Finance in order to strengthen financial market stability, reduce systemic risk and reduce systemic and pro-cyclicality. The members and their alternates are to be ordered by the Federal Government on a proposal from the Federal Minister of Finance. The Federal Minister of Finance has to pay attention to the nomination rights in accordance with paragraph 4.

(2) For the purposes of § § 13 to 13b and § 44c National Bank Act-NBG, BGBl. No. 184/2013 shall be considered as:

1.

systemic risk: risk according to § 2 Z 41 BWG;

2.

Pro-cyclically acting risk: risk within the meaning of Article 136 of Directive 2013 /36/EU;

3.

Risk of stock: risk according to § 22 para. 1 BWG;

4.

Systemic risk: risk according to § 22 para. 2 BWG.

(3) The tasks of the Financial Stability Board shall include in particular:

1.

the discussion of the facts relevant to financial stability;

2.

the promotion of cooperation and exchange of views of the institutions represented in the Committee during normal and crisis periods,

3.

Expert opinions, recommendations and requests relating to the risk of stock of institutions and the resulting systemic risk (Section 22 (1) and (2) of the BWG),

4.

the submission of risk warnings and recommendations pursuant to § 13a (1) and (2) and their publication in accordance with § 13a (4),

5.

advice on the handling of warnings and recommendations of the European Systemic Risk Board,

6.

an annual reporting to the National Council.

(4) The financial market stability body shall consist of:

1.

Two representatives of the Federal Ministry of Finance from the fields of economic policy and financial market supervision, of which one person as chairman and one person as vice-chairman, are qualified for the purposes of paragraph 3. of the Committee; the representatives must share the experience of this task with macroeconomic, macro-prudential and financial-market-related issues;

2.

a representative of the FMA which is technically appropriate within the meaning of paragraph 3;

3.

a representative of the National Bank of Oesterreichische Nationalbank (Oesterreichische Nationalbank), subject to the terms of

4.

the Chairman of the Fiscal Council and

5.

another member of the Fiscal Council, which is to be nominated by the Federal Minister of Finance from the circle of members of the Fiscal Council seconded by the Federal Government.

For each representative, the said institutions shall appoint a deputy qualified for the purposes of paragraph 3. The representatives of the members of the Fiscal Council are from the Federal Minister of Finance from the circle of the members of the Fiscal Council sent by the Federal Government and the members of the Fiscal Council for them pursuant to Section 1 (6) of the Federal Law on the Establishment of the Fiscal Council. Fiscal Council to nominate substitute members. In the performance of their duties, the representatives and their alternates shall not be bound by any instructions from the institutions to which they are sending.

(5) The Chairman of the Financial Stability Board shall convene the Financial Market Stability Board at least four times in the calendar year. The members of the Financial Stability Board may require the Committee to convene in the short term if there are important reasons. The Chairman may also consult external experts on the basis of the subject of the negotiation or of the agenda as an adviser.

(6) Decisions of the Financial Stability Board shall be made with simple majority voting. In the event of a tie, the Chair shall decide. Decisions on the reports to be submitted pursuant to paragraph 10 shall be taken unanimously.

(7) The Financial Market Stability Board shall, acting unanimously after its constitution, adopt its rules of procedure. Members of the Financial Stability Board shall be appointed for a period of three years, and the reappointment shall be admissible.

(8) The members of the Financial Stability Board and the experts

1.

Are aware of any facts which have become known to them exclusively from their activities in the Financial Market Stability Board, the secrecy of which is in the interests of maintaining public peace, order and security, external relations, the economic interest of a body of public law, in the preparation of a decision or in the overriding interest of the parties to an administrative procedure, is obliged to secrecy vis-à-vis everyone;

2.

the obligation to observe banking secrecy shall be subject to the obligation of official secrecy pursuant to Section 38 (1) of the BWG. The Federal Minister of Finance is responsible for the removal of the obligation of confidentiality, Section 46 (2), (3) and (4) of the Civil Service Act 1979, BGBl. No 333/1979 should be applied.

(9) The representative of the FMA regularly informs the Financial Stability Board of decisions and other decisions with relevance to financial stability, the identification of systemic and pro-cyclically acting risks and indications. Risk of a stock or system and, on request, provides the necessary factual information, data and documents.

(10) Within four months of the end of each calendar year, the Financial Market Stability Board, the Finance Committee of the National Council and the Federal Minister of Finance, shall have a report in aggregate form on the situation and development of the financial market stability body. Financial stability and its activities in the previous calendar year.

(11) The costs of the Financial Stability Board shall be borne by the Oesterreichische Nationalbank, which shall also provide the necessary staff and the expenses incurred. Membership of the Financial Stability Board does not apply to an immigrant rate. "

2. According to § 13, the following § § 13a and 13b together with the headings are added:

" Risk statements and recommendations

§ 13a. (1) If the financial market stability body identifies risks in the financial sector, which may have a negative impact on financial stability, it shall address them in risk warnings. Risk factors for financial stability are, among other things, the establishment and modification of systemic risks, the risk of stock-taking of institutions, a possible risk of systemic risk, or the risks of pro-cyclicalactions. Specific reasons for risk assessment are to be justified.

(2) The Financial Market Stability Board may draw the attention of the FMA in recommendations to the risks referred to in paragraph 1 and identify measures that are deemed appropriate and necessary to avert risks to financial stability and to address the risks to financial stability. To mitigate the risks referred to in paragraph 1.

(3) As soon as possible, the FMA has the possibility to inform the financial market stability body, at the latest within three months, of the manner in which it intends to implement a recommendation in accordance with paragraph 2. The FMA has regularly informed the Financial Stability Board of the state of implementation. If the FMA does not intend to implement the recommendation, it shall give an in-depth explanation of this.

(4) The Financial Market Stability Board may decide to publish recommendations to the FMA and risk statements. The intention to publish a recommendation is to inform the FMA in advance and to give the FMA an opportunity to comment. It should be seen from a publication if it seriously jeopardises the stability of the financial markets.

Notifications

§ 13b. (1) The FMA has the Oesterreichische Nationalbank (Oesterreichische Nationalbank) which is responsible for the performance of the tasks in accordance with Section 44c of the National Bank Act 1984-NBG, BGBl. I 1984/50 relevant data of all companies in the financial sector (§ 2 Z 7 Finanzkonglomerategesetz-FKG, BGBl. I n ° 70/2004), on request. The Oesterreichische Nationalbank has to put this data into the database in accordance with § 79 para. 4a BWG and can also process it. To the extent that this is appropriate, these data can also be entered directly into the database by the FMA.

(2) If the data requested by the Oesterreichische Nationalbank are not available at the FMA, the FMA may, in agreement with the Oesterreichische Nationalbank, with the agreement of the Federal Minister of Finance, agree with the Oesterreichische Nationalbank for the purposes of paragraph 1 Regulation, in which the following aspects shall be dealt with in greater detail:

1.

The county of the persons who are subject to reporting for the data;

2.

Reporting days, changes, contents of messages and reporting intervals, taking into account relevant recommendations and guidelines of the European Banking Authority (EBA) or the European Systemic Risk Board (ESRB).

(3) The notifications referred to in paragraph 2 shall be submitted in a standardised form by means of electronic transmission. The transmission shall be in accordance with certain minimum requirements to be notified by the FMA after hearing the Oesterreichische Nationalbank. "

3. In § 14, the following paragraph 4 is added:

" (4) For the employees of the company is the Federal Equal Treatment Act, BGBl. No 100/1993. '

4. According to Article 16 (2), the following paragraph 2a is inserted:

" (2a) The FMA shall immediately transmit to the Federal Minister of Finance on request those data and information which are necessary for the preparation of regulatory projects and for the fulfilment of § § 17 and 18 of the Federal Budget Act 2013, BGBl. I n ° 139/2009. '

5. In § 18 (1), the reference "Handelsgesetzbuch-HGB" by reference "Business Code-UGB" replaced.

6. In § 18 (2), the reference "§ 273 HGB" by reference "§ 273 UGB" replaced.

(7) The following paragraph 5 is added to § 22:

" (5) By way of derogation from § 9 para. 2 VStG, the appointment of responsible officers for the observance of the provisions of the laws referred to in § 2, which are punishable by administrative penalty, becomes legally effective only after the FMA has written a written Notification of the order, together with proof of the consent of the ordered item, has arrived. This shall not apply to the appointment of responsible officers at the request of the authority in accordance with § 9 para. 2 VStG. "

8. § 22b para. 1 reads:

" (1) For the prosecution of the provisions of § 98 (1), (1a) and (5) of the Federal Elections Act (BWG), § 99 (1) (9) and (2) of the Federal Elections Act, § 66 (1) of the ZaDiG, § 67 (11) of the ZaDiG, § 29 (1), 3, 4 Z 3 and Section 11 of the E-Money Act 2010, § 60 (1) Z 1 AIFMG, § 94 (1) WAG 2007 and section 95 (10) WAG 2007, § 48 1. (1) (1) and (6) BörseG, § 47 PKG, § 108a para. 3 VAG and § 110 VAG, the FMA is entitled to provide the necessary information from natural and legal persons as well as other entities with legal personality , and to process the necessary data; this right also includes the power to enter into books, documents and EDV-media to be able to inspect and to be able to produce excerpts from it. "

Section 22c (1) reads as follows:

" (1) The FMA may take measures or sanctions which are due to violations of § 66 para. 1 ZaDiG, § 67 para. 11 ZaDiG, § 29 para. 1, 3, 4 Z 3 and paragraph 11 E-Geldgesetz 2010, § 60 Abs. 1 WAG 2007 and § 95 Abs. 10 WAG 2007, § 48 Abs. 1 Z 1 and 6 BörseG, § 47 PKG, § 108a para. 3 VAG and § 110 VAG have been established, only in accordance with the conditions of the Z 1 to 3 advertised or publicly announced.

1.

In the event of an act of office in an ongoing proceedings, the FMA shall refrain from mentioning the names of the parties concerned, unless they are already publicly known or there is an overriding interest in the public Knowledge of these names.

2.

In the event of a sanction being imposed, the FMA may be the name of the persons or undertakings against which the sanction was imposed, the names of the undertakings, the persons against which a sanction was imposed, and the names of the persons or undertakings against which the penalty was imposed. shall be the subject of an investigation or publication of the penalty imposed. For the purposes of this provision, all acts adopted by the FMA after the conclusion of a procedure shall be deemed to be sanctions.

3.

The FMA has to refrain from issuing any information on official acts or any publication in this respect if:

a)

the issuing of information or the publication would seriously endanger the stability of the financial markets, or

b)

the provision of information or publication would result in disproportionate damage in the case of a party concerned by the information or publication; or

c)

by issuing the information, the implementation of a procedure or measures in the public interest may be foiled, hampered, delayed or put at risk. "

10. In § 22d (1), the reference "§ 98 (1) BWG" by reference "§ 98 (1) and (1a) BWG" and the reference "§ 28 (1) E-Money Act 2010" by reference "§ 29 (1) E-Money Act 2010" replaced.

10a. In accordance with § 26c, the following § 26d is added:

" § 26d. By way of derogation from Section 22 (5), orders from responsible officers shall retain their legal validity in accordance with § 9 para. 2 VStG, which has been carried out until 31 December 2013. However, without prejudice to the legal validity of the order, credit institutions shall, in such cases, notify the names and the evidence of the consent of the FMA's staff in writing until 31 March 2014. "

(11) The following paragraph 25 is added to § 28:

" (25) § § 13 bis 13b velvet transcripts, § 14 para. 4, § 16 para. 2a, § 18 para. 1 and 2, § 22 para. 5, § 22b para. 1, § 22c para. 1, § 22d para. 1 and § 26d in the version of the Federal Law BGBl. I n ° 184/2013 are due to 1. Jänner 2014 in force. "

Article 8

Amendment of the Financial Stability Act

The Financial Stability Act-FinStaG, BGBl. I n ° 136/2008, as last amended by the Federal Law BGBl. I No 78/2009, shall be amended as follows:

1. § 2 para. 1 Z 3 reads:

" 3.

the granting of loans and the supply of own resources (Part 2 of Regulation (EU) No 575/2013) to credit institutions and capital in accordance with Section 73b of the VAG to insurance undertakings; "

2. In accordance with § 9, the following § 10 is added:

" § 10. § 2 Para. 1 Z 3 in the version of the Federal Law BGBl. I n ° 184/2013 comes with 1. Jänner 2014 in force. "

Article 9

Amendment of the Financial Collateral Act

The Financial Collateral Act-FinSG, BGBl. I n ° 117/2003, as last amended by the Federal Law BGBl. I No 77/2011, is amended as follows:

1. § 2 para. 1 Z 2 reads:

" 2.

Major financial market institutions, which are central banks, the European Central Bank, the Bank for International Settlements, multilateral development banks under Art. 117 of Regulation (EU) No 575/2013 on prudential requirements Credit institutions and investment firms and amending Regulation (EU) No 648/2012, OJ L 206, 22.7.2012, p. No. 1., the International Monetary Fund and the European Investment Bank; "

2. § 2 para. 1 Z 3 lit. a is:

" (a)

Credit institutions in accordance with Art. 4 Paragraph 1 Point 1 of the Regulation (EU) No 575/2013 including those referred to in Article 2 (3) of the Directive 2013 /36/EU institutions designated; "

3. In § 2 para. 1 Z 3 lit. c becomes the reference " Art. 4 N ° 5 of Directive 2006 /48/EC " by reference " Art. 4 (1) Point 26 of Regulation (EU) No 575/2013 " replaced.

4. In § 3 (1) Z 15, the word group shall be "a credit institution within the meaning of Article 4 (1) of Directive 2006 /48/EC, including the institutions referred to in Article 2 of this Directive" through the word group " a credit institution within the meaning of Article 4 (1) Point 1 of Regulation (EU) No 575/2013, including the institutions referred to in Article 2 (3) of Directive 2013 /36/EU " replaced.

5. The following paragraph 3 is added to § 12:

" (3) § 2 para. 1 Z 2 and Z 3 lit. a and c, § 3 para. 1 Z 15 and § 14 para. 2 in the version of the Federal Law BGBl. I n ° 184/2013 are due to 1. Jänner 2014 in force. "

6. § 14 (2) reads:

" (2) As far as other directives or regulations are referred to in this Federal Act, the references shall refer to the respective one on the first. Jänner 2014 version of these guidelines or regulations. "

Article 10

Amendment of Real Estate Investment Fund Law

The Real Estate Investment Fund Act-ImmoInvFG, BGBl. I n ° 80/2003, as last amended by the Federal Law BGBl. I No 135/2013, shall be amended as follows:

1. In § 33 (1), the reference "§ 2 Z 37 BWG" by reference " Art. 4 (1) Point 92 of Regulation (EU) No 575/2013 " replaced.

2. In § 35 (1), the term " "EWR credit institution" by the term "CRR credit institution pursuant to § 1a (1) (1) of the BWG" replaced.

(3) The following paragraph 13 is added to § 44:

" (13) § 33 (1) and § 35 (1) in the version of the Federal Law BGBl. I n ° 184/2013 are due to 1. Jänner 2014 in force. "

Article 11

Amendment of the Investment Fund Act 2011

The investment fund law 2011-InvFG 2011, BGBl. I n ° 77/2011, as last amended by the Federal Law BGBl. I No 135/2013, shall be amended as follows:

1. In Section 3 (1), the word group shall be "and Regulations (EU) No 583/2010 and (EU) No 584/2010" through the word group "and Regulation (EU) No 583/2010, Regulation (EU) No 584/2010 and Regulation (EU) No 575/2013" replaced.

2. In § 6 para. 2 Z 5 the reference "additional own resources (section 23 (1) (1) and (2) of the BWG)" by reference "Additional hard core capital (Part 2, Title II, Chapter 2 of Regulation (EU) No 575/2013)" and the reference " § § 22 to 22q, § 23 para. 6, § 26, § 26a, § 39a as well as § 103 Z 9 lit. b BWG " by reference " § § 57 para. 5, 39a and 103 Z 9 lit. b BWG and Parts 3, 5 and 8 of Regulation (EU) No 575/2013 " replaced.

3. In § 8 (2), the reference "§ 9 (2) WAG 2007" by reference "§ 9 (5) Z 1 WAG 2007" replaced.

4. § 10 (6) reads:

" (6) Management companies are subject to § § 2, 20 to 21, 25, 28 to 28b, 29 to 30, 35 to 39, 39b, 40 to 41, 43 to 68, 70a, 74 to 76, 81 to 91, and 93 to 93c BWG as well as part 2, 4 and 6 the Regulation (EU) No 575/2013 "

5. In § 10, the following paragraph 7 is added:

" (7) Management companies are subject to § § 2, 20 to 21, 28 to 28b, 29 to 30, 35 to 39, 39b, 40 to 41, 43 to 68, 70a, 74 to 76, 81 to 91 and 93 to 93c BWG as well as part 2, 4 and 6 the Regulation (EU) No 575/2013 "

6. In § 74 (1), the reference " Art. 4 Z 5 of Directive 2006 /48/EC " by reference " Art. 4 (1) Point 26 of Regulation (EU) No 575/2013 " replaced.

7. In § 145 (4) the word group shall be "Regulation (EU) No 583/2010 or of Regulation (EU) No 584/2010" through the word group "Regulation (EU) No 583/2010, of Regulation (EU) No 584/2010, or of Regulation (EU) No 575/2013" replaced.

8. In § 148 (5), the first is 1. Record:

" In accordance with § 6 (1) after the granting of the concession, a management company is no longer present or violates a management company in accordance with Section 5 (1) of the German Federal Act or of the Federal Elections Act or of any of the BWG or any of the BWG. Federal Law or the BWG adopted Regulation or a decision or provision of Regulation (EU) No 583/2010, of Regulation (EU) No 584/2010 or of Regulation (EU) No 575/2013 or of a Regulation adopted pursuant to these Regulations The FMA has the measures referred to in Article 70 (4) (4) (1) to (3) of the Federal Elections Act (BWG) in relation to these if necessary, to withdraw the concession pursuant to § 5 (1) or the authorization in accordance with § 50. "

9. In § 150 (1) the 4. Record:

" The FMA may also take any action or sanction for breach of this Federal Law, the Federal Elections Act, the Regulation (EU) No 575/2013, or on the basis of this Federal Act or of the Federal Law of the Federal Republic of Germany (BWG) or of Directive 2009 /65/EC If such disclosure does not seriously jeopardise the stability of the financial markets, it would be detrimental to the interests of investors or would not cause disproportionate damage to the parties concerned. "

10. In § 151 the following Z 3a is inserted:

" 3a.

any appointment of a member of the Supervisory Board, stating the fulfilment of the requirements of Section 28a (5) of the Federal Elections Act, as well as any change in the conditions laid down in Section 28a (3) and (5) of the Federal Elections Act with existing members of the Supervisory Board;

11. § 151 Z 11 reads:

" 11.

any more than one month of non-compliance with the standards laid down in Article 25 of the Federal Elections Act and Articles 89 to 91 and Part 2, 4 and 6 of Regulation (EU) No 575/2013, and on the basis of which regulations or decisions are adopted; "

12. In § 151 the following Z 11a is inserted:

" 11a.

any more than one month of non-compliance with the standards laid down in Articles 89 to 91 and part 2, 4 and 6 of Regulation (EU) No 575/2013, as well as on the basis of decrees or acts adopted on the basis of that Regulation; "

13. The following paragraph 7 is added to § 190:

" (7) In the event of a breach of an obligation pursuant to § 151 Z 1 in respect of amendments to the statutes, Z 4, Z 7 and Z 9, the FMA shall refrain from initiating and carrying out an administrative criminal proceedings if the non-duly reimbursed indication before the FMA became aware of this transgressing. "

14. § 191 together with the title is:

" Violations of the BWG

§ 191. Sections 96, 97, 98, paragraph 1, paragraph 1a, para. 2, Z 4a, 5, 8, 10 and 11 with regard to § 44 BWG, § 98 Abs. 3 Z 10, 11a, 12, § 98 (5a) Z 1 to 3 and 6, as well as sections 99 (1) Z 3 to 10, 15 and 16 and section 2, as well as § § 99a, 99b, 100 and 101 BWG are to be found on the following page: management companies. "

§ 196 (2) Z 2 reads:

" 2.

Directive 2013 /36/EU on access to the activities of credit institutions and the supervision of credit institutions and investment firms, and amending Directive 2002/87/EC on the supplementary supervision of credit institutions, Insurance undertakings and investment firms in a financial conglomerate, OJ No. OJ L 176, 27.06.2013, p.338; "

16. In § 196 para. 2 Z 16, the point at the end is replaced by a stroke point and the following Z 17 is added:

" 17.

Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, OJ L 136, 31.5.2013, p. No. OJ L 176, 27.6.2013 p. 1.

(17) The following paragraph 9 is added to § 200:

" (9) § 3 (1), § 6 (2) Z 5, § 8 (2), § 10 (6), § 74 (1), § 145 (4), § 148 (5), § 150 (1), § 151 Z 3a and 11, § 190 (7), § 191 including the title and § 196 (2) Z 2 and 17 in the version of the Federal Law BGBl. I n ° 184/2013 are due to 1. Jänner 2014 in force. § 10 para. 7 and § 151 Z 11a in the version of the Federal Law BGBl. I n ° 184/2013 are due to 1. Jänner 2015 in force. § 10 para. 6 and § 151 Z 11 in the version of the Federal Law BGBl. I No 184/2013 shall expire on 31 December 2014. '

Article 12

Amendment of the Capital Market Act

The Capital Market Act-KMG, BGBl. N ° 625/1991, as last amended by the Federal Law BGBl. I No 135/2013, shall be amended as follows:

1. In § 1 para. 1 Z 8 the reference " Art. 4 Z 1 lit. a of Directive 2006 /48/EC " by reference " Art. 4 (1) (1) of Regulation (EU) No 575/2013 " replaced.

2. In § 8 paragraph 2 Z 4 lit. b becomes the reference "§ 2 Z 6 BWG" by reference " Art. Article 4 (1) (43) of Regulation (EU) No 575/2013 " replaced.

3. In the final part of Section 8 (2), the reference "§ 273 HGB" by reference "§ 273 UGB" replaced.

4. In § 8 (4) and (5), the reference "§ 271a HGB" in each case by the reference "§ 271a UGB" replaced.

5. In § 14 Z 4, the reference "§ § 268 to 276 HGB" by reference "§ § 268 to 276 UGB" replaced.

6. In § 14 Z 6 the reference "§ 275 HGB" by reference "§ 275 UGB" replaced.

7. The following paragraph 18 is added to § 19:

" (18) § 1 para. 1 Z 8, § 8 para. 2, § 8 para. 4 and 5 and § 14 Z 4 and 6 in the version of the Federal Law BGBl. I n ° 184/2013 are due to 1. Jänner 2014 in force. "

Article 13

Amendment of the National Bank Act 1984

The National Bank Act 1984-NBG, BGBl. 50/1984, as last amended by the Federal Law of the Federal Republic of Germany (BGBl). I No 64/2013, shall be amended as follows:

1. In § 38, the following paragraph 4 is added:

" (4) The Federal Employment Equality Act (BGBl) is for the staff of the Bank. No 100/1993. '

2. According to § 44b, the following § 44c with headline is inserted:

" Maintenance of financial stability

§ 44c. Without prejudice to § 44b, the Oesterreichische Nationalbank contributes to safeguarding financial stability, reducing systemic risk and reducing systemic and pro-cyclically acting risk, in particular by:

1.

analysing financial market stability and reducing systemic risk in the financial market, and identifying risks that could affect financial stability,

2.

inform the Financial Market Stability Board of observations and findings of a fundamental nature or special significance and, if requested, provide the necessary factual information, provide documents and expert opinions created,

3.

the Financial Market Stability Board to submit recommendations to the FMA (Section 13a of the Financial Market Supervisory Authority Act (FMABG), BGBl. No 97/2001) and risk warnings,

4.

analyse the implementation measures of the FMA and inform the financial market stability body of its assessment,

5.

prepare a report annually on the situation and the development of financial stability and make it available to the financial market stability body to fulfil its reporting obligation in accordance with § 13 para. 10 FMABG. "

(3) The following paragraph 9 is added to Article 89:

" (9) § 38 (4) and § 44c in the version of the Federal Law BGBl. I n ° 184/2013 are due to 1. Jänner 2014 in force. "

Article 14

Amendment of the Sparkassengesetz

The Sparkassengesetz-SpG, BGBl. No 64/1979, as last amended by the Federal Law BGBl. I n ° 152/2009, shall be amended as follows:

1. In Section 1 (1), the word group shall be "merchants in the sense of the Commercial Code" through the word group "Company by virtue of legal form according to § 2 of the Company Code" replaced.

2. § 1 para. 2 reads:

" (2) Municipalities, savings banks, as well as other legal and natural persons are in principle excluded from a participation in the assets or profits of a savings bank. They may only be able to profit or loss through instruments which are capable of being determined and which meet the requirements of Part 2 of Regulation (EU) No 575/2013 and on assets only through instruments which meet the core capital requirements in accordance with Art. 25 of the Regulation (EU) No 575/2013. "

3. § 17 (3) reads:

" (3) The decisions of the Board of Management on the introduction of the company or the business part of the banking business in accordance with Section 92 of the BWG into a Sparkassen Aktiengesellschaft as well as the taking of self-contained instruments, which meet the requirements of Part 2, Title II, Chapter 4 of Regulation (EU) No 575/2013, shall be subject to the approval of the Savings Bank Council. "

4. In § 19 (1), the term "Trade law" by the term "Company Law" replaced.

5. § 22 (1) and (2) are:

" (1) The savings bank shall draw up an annual financial statement (balance sheet, profit and loss account as well as appendix) and management report for each financial year ended. The profit resulting from the formation of the detention order (Section 57 (5) of the Federal Elections Act) plus a profit or loss contribution, minus a loss contribution, is after the allocation of the profit share for instruments participating in the profit or loss according to Article 1 (2), of the The security reserve, the reserves allowed under the income tax provisions and the reserves for special operational purposes of the savings bank (special reserves) or to be presented to new account. The foundation capital of the savings bank and the tied reserve in accordance with § 229 UGB are the same as the security reserve.

(2) In addition to the reserves referred to in paragraph 1, a reserve may also be formed for the purpose of the general public (return of the dedication). The dedication reserve shall not exceed that percentage of the profit by which the existing eligible own funds exceed the own resources requirements laid down in Article 92 of Regulation (EU) No 575/2013; this amount may be 30%. vH of profit not exceeding. "

6. In § 27a (6) the term "HGB" by the term "UGB" replaced.

(7) The following paragraph 11 is added to § 42:

" (11) § 1 para. 1 and 2, § 17 para. 3, § 19 para. 1, § 22 para. 1 and 2, § 27a para. 6 and § 9 para. 1 to 3 of the annex to § 24 in the version of the Federal Law BGBl. I n ° 184/2013 are due to 1. Jänner 2014 in force. "

8. In the Appendix to § 24, § 9 (1), (2) and (3) of the term "HGB" in each case by the term "UGB" replaced.

Article 15

Amendment of the Stability Procurement Act

The Stability Procurement Act-StabAbgG, BGBl. I n ° 111/2010, as last amended by the Federal Law BGBl. I n ° 22/2012, shall be amended as follows:

1. § 2 para. 2, first sentence reads:

" The average unconsolidated balance sheet total is calculated on the basis of the arithmetic average of the list of capital and group insolvency of the first three calendar quarter years of the financial year, which is part of the reporting system (§ 74 BWG) and the balance sheet total of the annual financial statements of the financial year. "

2. 2 (2) Z 3 reads as follows:

" 3.

Obligations towards credit institutions to the extent that these are incurred as a result of the fulfilment of the liquidity requirement in accordance with § 25 BWG. A reduction shall be permitted only to the extent that claims are made to the central institution or another credit institution in accordance with § 27a BWG, which serve to fulfil its own liquidity obligation pursuant to Section 25 of the Federal Elections Act (BWG) and the Central Institute or the other credit institution under Section 27a of the BWG is subject to the stability levy in accordance with this Federal Act or a comparable levy in a Member State (§ 2 Z 5 BWG); "

3. In accordance with § 2 (2) Z 3 the following Z 3a is inserted:

" 3a.

Obligations towards credit institutions to the extent that they arose from the fulfilment of the liquidity requirement set out in Part 6 of Regulation (EU) No 575/2013. A reduction shall be permitted only to the extent that claims are made to the central institution or another credit institution in accordance with Section 27a of the Federal Elections Act (BWG), which is to comply with its own liquidity obligation obligation pursuant to Part 6 of Regulation (EU) No 575/2013 the central institution or the other credit institution shall be subject, in accordance with Section 27a of the BWG, to the stability levy in accordance with this Federal Act or a comparable charge in a Member State (§ 2 Z 5 BWG); "

4. § 4 para. 2, first to third sentence are:

" The basis for assessment is the business volume of all derivatives listed in Annex II to Regulation (EU) 575/2013 allocated to the trading book in accordance with Article 102 of Regulation (EU) No 575/2013, plus all the options sold in the trading book. The business volume shall be calculated at the nominal value in accordance with Art. 94 (2) of Regulation (EU) No 575/2013. Trade books in accordance with Art. 94 of Regulation (EU) No 575/2013 are excluded. "

5. § 9 receives the sales designation "(1)" and the following paragraph 2 is added:

" (2) § 2 para. 2 first sentence and Z 3 and § 4 para. 2 in the version of the Federal Law BGBl. I n ° 184/2013 are due to 1. Jänner 2014 in force. Section 2, Section 2, Z 3a, as amended by the Federal Law BGBl. I n ° 184/2013 comes with 1. Jänner 2015 in force. Section 2, Section 2, Z 3, in the version of the Federal Law BGBl. I No 184/2013 shall expire on 31 December 2014. '

Article 16

Amendment of the Securities and Markets Act 2007

The Securities and Markets Act 2007-WAG 2007, BGBl. I n ° 60/2007, as last amended by the Federal Law BGBl. I No 135/2013, shall be amended as follows:

1. In the table of contents, 1. Main piece 1. Section after the entry to § 4 of the following entry inserted:

" § 4a. Securities Company Group "

2. In the table of contents, 1. Main piece 1. Section after the entry to § 9 of the following entry inserted:

" 9a. Procedures for the exemption of group members ' institutes "

3. In § 1 the following Z 1a is inserted after Z 1:

" 1a.

CRR-investment firm: investment firm according to Article 4 (1) (2) of Regulation (EU) No 575/2013; "

4. § 1 Z 16 reads:

" 16.

Member State of origin for investment firms which are not CRR investment firms (§ 1 Z 1a):

a)

provided that they are natural persons: the Member State in which they have their head office;

b)

provided that they are legal persons: the Member State in which they have their registered office or, if they have no registered office in accordance with the national law applicable to them, the Member State in which their head office is situated; is located; "

5. § 1 Z 21 reads:

" 21.

Branch: for investment firms which are not CRR investment firms (Article 1 (1a)), a place of business which is a legally independent part of an investment firm and which directly provides investment services or activities; or shall be subject to the activity of the investment firm, where ancillary services may be carried out in addition but not exclusively; all the offices of an investment firm in the same Member State, the registered office of which shall be Main administration in another Member State shall be considered to be a single Branch. "

6. § 1 Z 22 to 25 are:

" 22.

Qualifying holding: for investment firms which are not CRR investment firms (Article 1 (1a)), direct or indirect holding of at least 10vH of the capital or voting rights in a company or the possibility of exercising a relevant influence on its management; in the determination of the voting rights § 91 (1) (a) to (2a) shall be applied in conjunction with Sections 92 and 92a (2) and (3) of the Austrian Stock Exchange Act 1989, in the case of § § 11 to 11b of this Federal Act Voting rights or shares held by investment firms or credit institutions as a result of a takeover of the Emission of financial instruments or placement of financial instruments with a fixed takeover obligation in the sense of the Z 2 lit. f do not have to be taken into account, provided that these rights are not exercised or otherwise used to intervene in the management of the issuer, and are sold within one year of the date of acquisition.

23.

Parent companies: for investment firms which are not CRR investment firms (§ 1 Z 1a), parent companies in accordance with Section 244 (1) and (2) of the German Commercial Code (UGB), in accordance with the following provisions:

a)

The legal form and the seat shall not be taken into account;

b)

the provisions of Section 244 (4) and (5) of the UGB are to be applied;

c)

the concept of participation of Art. 4 (1) (35) of Regulation (EU) No 575/2013 is to be applied.

24.

Subsidiaries: for investment firms which are not CRR investment firms (§ 1 Z 1a), subsidiaries in accordance with Section 244 (1) and (2) of the UGB (UGB), in accordance with the following provisions:

a)

The legal form and the seat shall not be taken into account;

b)

the provisions of Section 244 (4) and (5) of the UGB are to be applied;

c)

the concept of participation of Article 4 (1) (35) of Regulation (EU) No 575/2013 is to be applied; "

25.

Close links: for investment firms which are not CRR investment firms (Article 1 (1a)), a situation in which two or more natural or legal persons are connected by:

a)

the direct holding of a holding,

b)

the existence of a relationship between parent and subsidiary undertakings, where each subsidiary of a subsidiary undertaking, as a subsidiary undertaking, shall also be the parent undertaking which is at the head of such undertakings;

in the case of lit. (b) the ratio may also be established by control in accordance with Z 26; a situation in which two or more natural or legal persons with one and the same person are permanently connected by a control relationship shall also be deemed to be: close connection between these people. "

7. In § 3 paragraph 5 Z 2 the term "Equity" by the term "Initial capital" replaced.

8. § 3 (5) Z 6 reads:

" 6.

the conditions laid down in Article 5 (1) (2) to (4a), (6), (7), (9) and (10) to (14) of the

9. § 3 (6), first sentence reads:

" The initial capital of an investment firm only comprises the initial capital of Article 26 (1) (1). a to e of Regulation (EU) No 575/2013 and shall be at least equal to: "

10. In § 4 (1), first sentence, the word group "Revenue of the company 730 000 Euro" through the word group "Company's revenue from investment services 2 million euros" replaced.

Section 4 (2) Z 3 reads as follows:

" 3.

the obligation pursuant to Section 9 (5). "

12. In accordance with § 4, the following § 4a and title shall be inserted:

" Securities Company Group

§ 4a. (1) An investment firm group shall be present if there is no group of credit institutions and if there is a parent investment firm or CRR investment firm, a parent financial holding company or mixed financial holding company domicated in the country in the case of one or more investment firms, CRR investment firms, credit institutions, CRR credit institutions, financial institutions, CRR financial institutions or ancillary services providers (subordinated institutions) established in Germany or abroad

1.

majority, indirect or directly involved,

2.

has the majority of the voting rights of the company,

3.

it has the right to appoint or discontinue the majority of the members of the administrative, management or supervisory body,

4.

has the right to exercise a dominant influence,

5.

is actually exerting a dominant influence,

6.

it has the right to take a decision on the basis of a contract with one or more members of the enterprise, such as voting rights of the shareholders, insofar as it requires its own voting rights to achieve the majority of the votes cast are to be exercised when the majority of the members of the management or supervisory body are appointed or convened, or

7.

at least 20 vH of the voting rights or of the capital of the subordinated institute directly or indirectly, and that participation is led by a group-affiliated company jointly with one or more undertakings which do not: Securities company group.

For the purposes of this provision, financial institutions shall also be considered to be non-profit-making associations and undertakings which, in accordance with Article 2 of Directive 2013 /36/EU, shall be permanently subject to the application of the rules applicable to investment firms. Policies are excluded. Central banks of Member States shall not be considered as financial institutions.

(2) In addition to the first paragraph, an investment firm group shall be present if a parent financial holding company, mixed parent financial holding company, EU parent financial holding company, mixed EU parent financial holding company or mixed parent financial holding company Holding company shall have its registered office in another Member State; and

1.

at least one investment firm having its registered office in that company (par. 1 (1) to (7),

2.

the group, however, does not belong to a CRR investment firm authorised in a Member State, which has its registered office in the host Member State of the holding company concerned, and

3.

the domestic investment firm has a higher annual balance sheet total than any other CRR investment firm authorised in a Member State; the balance sheet total shall be the same as the balance sheet total, which shall be the first to be admitted.

If the classification as a group of securities is inappropriate in view of the relative importance of the activities of an investment firm domestiated, the FMA may be subject to the application of the 1. and the second subparagraph shall, in accordance with Section 77b (4) (2) of the BWG, transfer the tasks and responsibilities to another authority. The FMA shall give the EU parent institution, the EU parent financial holding company, the mixed EU parent financial holding company, the mixed holding company or the institution with the highest balance sheet total, before the adoption of the relevant decision Opportunity to comment. The FMA informs the European Commission and the EBA of a decision pursuant to Art. 111 (5) of the Directive 2013 /36/EU the decision taken. "

(3) An investment firm group shall not be present in respect of the following parent institutions:

1.

At the same time, the investment firm established in Germany is subordinate to another investment firm domicated in the country;

2.

the parent financial holding company, the parent mixed financial holding company, or mixed holding company domicated in the country, is at the same time the parent institution of a CRR investment firm.

(4) The transferable investment firm of an investment firm group is the domestic investment firm which itself is not subordinate to any other group-affiliated investment firm having its head office in Germany. Where a number of investment firms fulfil this condition, they shall be deemed to be the parent investment firm which has the highest balance sheet total.

(5) The parent investment firm shall be responsible for the compliance with the provisions of this Federal Law applicable to the securities company group. § 30 (3), 7 to 10 of the Federal Elections Act shall apply mutasensitily. "

13. § 6 reads:

" § 6. (1) The following provisions of the BWG for credit institutions shall also apply to investment firms and investment services companies: § 21 (1) (1), (1), (3) and (5) to (2) and (3), § § 39, 40, 40a, 40b, 40d and 41, § 73 (1) (1) to (7) and (11), § § § § § § § 73 (1). 78 (8) and (9) and (96).

(2) In addition to paragraph 1, CRR investment firms shall apply the following provisions of the BWG application: § 5 (1) Z 6 to 9a, § 28a (5) Z 1 to 5, § 10 para. 4, § 15, § 39a, § 39b, § 39c, § 39d, § 64 sec. 1 Z 18 and 19, § 65a, § 69 para. 2 to 3b, § 69b Abs. 3, § 70 (4) to (4d), § 73 (1) (8) (5), § 98 (5a) (z) 3 to 10, § 99c and § 99d with regard to section 98 (5) and section 98 (5a) (3) to (10) of the BWG, 99c to 99g, and annex to section 39b. "

14. § 9 reads:

" § 9. (1) For the purposes of paragraphs 2 to 7, the term "investment firm" does not include any investment firms which are CRR investment firms, nor companies in accordance with Article 4 (1) (2) (2) of the Treaty. (c) of Regulation (EU) No 575/2013 providing investment services or activities as referred to in point 2 or 4 of Section A of Annex I to Directive 2004 /39/EC.

(2) Investment firms and investment service undertakings shall have sufficient equity capital at all times.

(3) The equity capital consists of the in Art. 26 para. 1 lit. a to e of the elements referred to in Regulation (EU) No 575/2013.

(4) Investment firms and investment service undertakings shall hold the initial capital required for the granting of concession contracts as minimum capital or maintain the professional indemnity insurance required under Article 4 (2) (2).

(5) Investment firms shall have equity in the amount of

1.

25 vH of the fixed overheads of the last annual financial statements as referred to in paragraph 6, or

2.

8 vH of the sum of the sum of Article 92 (3) (3). a to d and f of Regulation (EU) No 575/2013, following the application of Article 92 (4) of Regulation (EU) No 575/2013

, where the own resources requirement calculated in accordance with Z 1 or 2 is higher than the amount set in paragraph 4. Where both the own resources requirement calculated in accordance with Z 1 and in accordance with Z 2 are higher than the amount specified in paragraph 4, the investment firm shall have to comply with the higher of the own resources requirements calculated in accordance with Z 1 or 2.

(6) The fixed overhead costs are the operating expenses (Appendix 2 to § 43 BWG, part 2, position III), which are independent of the respective employment level of the investment firm and which are not directly attributed to the individual cost carriers (products) for investment firms which have been doing business for less than one year, the fixed overheads provided for in the business plan shall be used.

(7) In the event that the equity capital on the basis of a payment of compensation pursuant to section 76 is subject to the extent necessary in accordance with paragraph 3 or 4, the investment firm shall have the own resources requirement provided for in paragraph 3 or 4 at the latest within the the following three financial years. "

15. In accordance with § 9, the following § 9a and title shall be inserted:

" Procedures for the exemption of group-affiliated institutes

§ 9a. (1) The exemption of group-affiliated institutions of a group of securities companies (§ 4a), pursuant to Article 14 of Regulation (EU) No. 575/2013 on a specific institute basis, requires the approval of the FMA.

(2) The application of a credit institution, an investment firm or a parent parent company for an exemption pursuant to paragraph 1 shall be accompanied by appropriate documents relating to the existence of the conditions for an exemption under Art. 14 of the Regulation (EU) No 575/2013.

(3) In the proceedings pursuant to paragraph 1, the FMA has to obtain an opinion from the National Bank of Oesterreichische Nationalbank on the existence of the conditions laid down in Article 14 of Regulation (EU) No 575/2013.

(4) The authorization for the exemption pursuant to paragraph 1 shall be granted if the fulfilment of the requirements pursuant to Article 14 of Regulation (EU) No 575/2013 is sufficiently demonstrated.

(5) The FMA and the Oesterreichische Nationalbank shall immediately, in writing, have the omission of one or more of the conditions laid down in Article 14 of Regulation (EU) No (EU) No (5) Group members of institutions pursuant to paragraph 1 or parent parent companies. 575/2013 and the failure to comply with the conditions and conditions laid down in the case in order to ensure such conditions, to submit a plan stating that the above requirements shall be met within a reasonable period of time. period of time shall be complied with or proof that the deviations from these requirements do not have any significant impact. "

16. In § 11a (4) (2), the reference "Directive 2006 /48/EC" by reference "Directive 2013 /36/EU" replaced.

17. In § 11b para. 1 Z 4, the reference "2002/87/EC, 2006 /48/EC and 2006 /49/EC" by reference "2002/87/EC and 2013 /36/EU" replaced.

18. In Section 12 (7), the reference " Art. 20 (2) and (3) and Article 46 (1) of Directive 2006 /49/EC by reference " Art. 95 of Regulation (EU) No 575/2013 " replaced.

19. In § 31 paragraph 1 Z 2, the reference "Directive 2006 /48/EC" by reference "Directive 2013 /36/EU" replaced.

20. In § 31 (2), the reference "Directive 2006 /48/EC" by reference "Directive 2013 /36/EU" replaced.

21. In § 49 (3), the reference " § 2 Z 35 lit. a and b BWG " by reference "§ 3 paragraph 2 Z 30 InvFG 2011" replaced.

22. In § 58 sec. 2 Z 3 the reference "pursuant to § 2 Z 5a BWG" .

23. In § 58 sec. 2 Z 4 the reference "§ 2 Z 9a BWG" by reference " Art. Article 4 (1) (24) of Regulation (EU) No 575/2013 " replaced.

Section 91 (1) reads as follows:

" (1) The FMA has complied with this federal law and, where applicable, Regulation (EU) No 575/2013, by

1.

investment firms,

2.

investment services undertakings,

3.

Credit institutions pursuant to Article 1 (1) of the BWG with regard to the 2. and 3. the main part of this federal law,

4.

Credit institutions and financial institutions from Member States in accordance with § § 9 ff of the Federal Elections Act with regard to § § 36 and 38 to 59, 61 to 66 and 69 to 71,

5.

Investment firms from Member States pursuant to Section 12 (1) who carry out activities in Austria via a branch, as regards § § 36 and 38 to 59, 61 to 66 and 69 to 71 of this Federal Act and § § 34 to 38, 40, 40a, 40b, 40d, 41 and § 93 (8a) BWG,

6.

recognised investment firms established in a third country, local firms and members of a cooperation exchange operating on an Austrian stock exchange (Section 15 (5) of the Austrian Stock Exchange Act), with regard to the 2. and 3. the main part and § § 39 para. 3, 40, 40a, 40b, 40d and 41 BWG,

7.

Insurance undertakings within the scope of section 2 (2) and

8.

Management companies according to § 5 paragraph 1 InvFG 2011 within the scope of § 2 para. 3.

and to take account of the economic interest in a functioning capital market and on the interests of investors. "

25. In § 91 (2) Z 3, the reference "§ 2 Z 9 BWG" by reference " Art. 4 (1) Point 40 of Regulation (EU) No 575/2013 " and the reference "Directive 2006 /49/EC" by reference "Directive 2013 /36/EU" replaced.

Section 93 (2) Z 1 reads as follows:

" 1.

may constitute a significant breach of Regulation (EC) No 1287/2006 or, where applicable, Regulation (EU) No 575/2013 or regulations or acts adopted pursuant to Regulation (EU) No 575/2013, or "

27. The following paragraph 12 is added to § 95:

" (12) In the event of a breach of an obligation pursuant to § 11 (4), § 13 (7) and § 6 (1) of this Federal Act in conjunction with Section 73 (1) Z 1 of the Federal Elections Act (BWG) with regard to amendments to the Articles of Association and Section 73 (1) Z 4, Z 7 and Z 11 BWG, the FMA has received from the introduction and To refrain from carrying out an administrative criminal procedure if the complaint which has not been duly reimbursed has been obtained before the FMA has become aware of this transgressing. "

28 . In § 98 (4) (1), the reference "Directive 2006 /49/EC" by reference "Directive 2013 /36/EU" replaced.

Section 104 (4) is deleted.

30. The following paragraph 18 is added to § 108.

" (18) The table of contents with regard to § § 4a and 9a as well as § 1 Z 1a, 16, 21 to 25, § 3 (5) Z 2 and 6 and section 6, § 4 (1) and 2 (3), § 4a, § 6, § 9, § 9a, § 11a (4) Z 2, § 11b para. 1 Z 4, § 12 para. 7, § 31 para. 1 Z 2 and para. 2, § 49 Abs. 3, § 58 (2) (3) and (4), § 91 (1) and (2) (2) (3), § 93 (2) (2) (2) (1), § 95 (12), § 98 (4) (1), as amended by the Federal Law BGBl. I n ° 184/2013 are due to 1. Jänner 2014 in force. Section 104 (4) shall not expire on 31 December 2013. "

Article 17

Amendment of the Payment Services Act

The Payment Services Act - ZaDiG, BGBl. I n ° 66/2009, as last amended by the Federal Law BGBl. I No 70/2013, is amended as follows:

1. In § 1 para. 3 Z 1, the word group shall be " Credit institutions within the meaning of Section 1 of the Banking Act-BWG, BGBl. 532/1993 and credit institutions pursuant to Section 9 of the BWG, " through the word group " Credit institutions and CRR credit institutions according to § 1 and § 1a Z 1 Banking Act-BWG, BGBl. No 532/1993, ' replaced.

2. In § 2 (2) (1) (1), the word group shall be "Credit institutions within the meaning of Section 1 of the BWG and credit institutions, in accordance with Section 9 of the BWG," through the word group "Credit institutions and CRR credit institutions according to § 1 and § 1a Z 1 BWG," replaced.

3. In § 2 paragraph 2 Z 2 the reference " (§ 2 Z 6 lit. a BWG) " by reference " (Art. 4 (43) of Regulation (EU) No 575/2013) " replaced.

4. In § 3 Z 27, the reference "§ 2 Z 2 BWG" by reference " Art. Article 4 (1) (35) of Regulation (EU) No 575/2013 " replaced.

5. The final part in § 3 reads:

"By the way, unless expressly stated otherwise in this Federal Act, the definitions of the BWG, WAG 2007 and Regulation (EC) No 1287/2006, Regulation (EC) No 924/2009 and Regulation (EU) No. 575/2013 apply."

6. In § 7 (1) Z 5, the reference "§ 2 Z 28 BWG" by reference " Art. 4 (38) of Regulation (EU) No 575/2013 " replaced.

7. In § 7 (1) Z 7 the group of definitions shall be: " which includes the components pursuant to Article 23 (1) (1) (1) and (2) of the BWG by the definition "the hard core capital referred to in Part 2, Title II, Chapter 2 of Regulation (EU) No 575/2013," replaced.

8. § 7 para. 2 Z 2 reads:

" 2.

the competent authority of the Member State of origin where a shareholder or a shareholder who holds a qualifying holding in the payment institution is in that Member State of origin as a credit institution in accordance with the provisions of Article 4 (1) (1) of the Regulation (EU) No 575/2013, as an asset management company in accordance with Article 2 (5) of Directive 2002/87/EC, as an investment firm, as an electronic financial institution within the meaning of Article 1 (1) (b) of Directive 2009 /110/EC, as an insurance undertaking, or as an investment firm, as an investment firm or as an investment firm. payment institution is authorised to consult; and "

9. In Section 11 (2), the reference "§ 21 (1a) to (3) BWG" by reference "§ 21 (1) to (3) BWG" replaced.

10. The subsection of Section 15 (1) reads as follows:

"The hard core capital referred to in Part 2, Title II, Chapter 2 of Regulation (EU) No 575/2013, shall not at any time be less than:"

Article 15 (2) reads as follows:

" (2) D as hard core capital as defined in Part 2, Title II, Chapter 2 of the Regulation (EU) No 575/2013 may be do not fall below the respective higher amounts referred to in paragraph 1 and section 16. "

12. § 19 (3) Z 5 reads:

" 5.

insofar as the concession includes the possibility of granting a loan (§ 1 para. 2 Z 3, 4 or 6), an appropriate risk management system with regard to the credit risk (Art. 107 the Regulation (EU) No 575/2013 ) ; "

13. In § 25 (1) the word group shall be "Financial institutions within the meaning of Article 4 (5) of Directive 2006 /48/EC" through the word group "Financial institutions within the meaning of Article 4 (1) (26) of Regulation (EU) No 575/2013" replaced.

14. The following paragraph 12 is added to § 67:

" (12) In the event of a breach of an obligation pursuant to Section 10 (3), Section 11 (1) (1) (1) with regard to amendments to the Articles of Association, Z 4, Z 7 and Z 10 and Section 11 (2) with regard to Section 20 (3) of the Federal Elections Act (BWG), the FMA has a duty to initiate and implement an administrative criminal procedure if the unduly reimbursed advertisement has been obtained before the FMA or the Oesterreichische Nationalbank has become aware of this transgressing. "

Section 76 (2) Z 2 reads as follows:

" 2.

Directive 2013 /36/EU on access to the activities of credit institutions and the supervision of credit institutions and investment firms, amending Directive 2002 /87/EC and repealing Directives 2006 /48/EC and 2006 /49/EC, OJ L 73, 14.3.2006, p. No. OJ L 176, 27.6.2013 p. 338; "

16. § 76 (2) (8) (8) reads:

" 8.

Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, OJ L 136, 31.5.2013, p. No. OJ L 176, 27.6.2013 p. 1;

17. The following paragraph 11 is added to § 79:

" (11) § 1 para. 3 Z 1, § 2 para. 2 Z 1 and 2, § 3, § 7 para. 1 Z 5 and 7 and paragraph 2 Z 2, § 11 para. 2, § 15 para. 1 and 2, § 19 para. 3 Z 5, § 25 para. 1, § 67 para. 12, and § 76 para. 2 Z 2 and 8 in the version of the Federal Law BGBl. I n ° 184/2013 are due to 1. Jänner 2014 in force. "

Article 18

Amendment of the Pensionskassengesetz

The Pensionskassengesetz-PKG, BGBl. No. 281/1990, as last amended by the Federal Law BGBl. I n ° 54/2013, shall be amended as follows:

(1) The following paragraph 8 is added to § 12:

"(8) In a VRG and in a VRG with sub-VG according to paragraph 6, pension fund pledges can be administered both with and without changing possibilities according to paragraph 7."

2. In § 12a (1) Z 1 lit. b does not use the word "Unrestricted" .

(3) The following paragraph 7 is added to § 12a:

" (7) As far as the right of a pension is to be declared a change to the security VRG according to para. 2, the pension fund contract and the collective agreement must be declared in the operating agreement or the contract. No agreement on the exclusion of the minimum pension guarantee in accordance with § 2 paragraph 2 of the Agreement pursuant to the Contract Pattern pursuant to the Law on the Law of the State and in the declaration pursuant to § 3 paragraph 2 of the German Act on the Protection of the Rights of the Party (PKVG) or a similar national 1. An all-due benefit from the minimum payment guarantee is not to be taken into account in the case of a change with the call for pension fund performance in the determination of the guarantee of the first monthly pension in accordance with paragraph 1 Z 2. In the event of a change in accordance with paragraph 3, the pension fund shall again guarantee the minimum return, whereby the calculation period shall start again in accordance with § 2 para. 2 to 4. "

4. § 19b (2) Z 4 reads:

" 4.

with regard to a transfer to a security VRG (Section 12a (2))

a)

the estimated amount of the first guaranteed monthly pension,

b)

the modalities of the valorisation of the guaranteed first-month pension,

c)

the investment strategy, and the opportunities and risks of employment,

d)

the effects of a change from a pension scheme to the security VRG with a minimum guarantee of income,

e)

the amount of the remuneration for the assessment of the assets of the security VRG pursuant to Section 16a (4a) and

f)

A particularly emphasized indication of the whereabout of the persons entitled to benefit in the security VRG when the pension fund contract is terminated; "

5. In § 23 (1) (3a) the reference shall be made in each case "§ 22a BWG" by reference "Part 3, Title II, Chapter 2 of Regulation (EU) No 575/2013" replaced.

6. § 25 (1) Z 5 lit. a is:

" (a)

is listed or traded on a regulated market pursuant to Article 4 (1) (92) of Regulation (EU) No 575/2013, or "

7. In § 27 (5) (2b) the phrase shall be: "Election proposals according to Z 2b" through the phrase "Election proposals in accordance with Z 2a" replaced.

8. § 33 (8) reads:

"(8) The FMA may adopt measures taken pursuant to paragraphs 4, 5 and 6, as well as sanctions on the grounds of an infringement of this Federal Act or of regulations issued pursuant to this Federal Law of the Federal Republic of Germany by the Internet, the print in the" Official Journal of the Viennese " Newspaper " or in a newspaper with distribution in the entire federal territory. However, the publication of measures referred to in paragraph 6 (1) may only be made where this is necessary in the light of the nature and seriousness of the breach of information to the public and is proportionate to the potential disadvantages of the person concerned. These publication measures can also be taken cumulatively. "

9. In accordance with § 33 (8), the following paragraphs 8a and 8b are inserted:

"(8a) The FMA may inform the public that a named natural or legal person has been named by the Internet, printing in the" Official Journal of the Wiener Zeitung " or in a newspaper with distribution throughout the territory of the Federal Republic of Germany. (person) is not entitled to operate the pension fund business (§ 1 para. 2), provided that this person has given rise to this and requires information to the public and, in view of possible disadvantages of the person concerned, is. These publication measures may also be taken cumulatively. This person must be clearly identifiable in the publication; for this purpose, as far as the FMA is known, business address or residential address and company book number, Internet address, telephone number and fax number may also be specified.

(8b) The person affected by the publication may request a review of the legality of the publication in accordance with paragraph 8 or 8a in a procedure to be carried out in a modest way with the FMA. The FMA has to make known the introduction of such a method in the same way. If, in the context of the review, the unlawfulness of the publication is determined, the FMA shall correct the publication correctly or, at the request of the person concerned, either withdraw it or remove it from the internet presence. If a complaint against a communication which has been made known in accordance with paragraph 7 is granted suspensive effect in proceedings before the courts of the courts, the FMA shall disclose this in the same way. The publication shall be correct or, at the request of the person concerned, either to be revoked or to be removed from the internet presence if the communication is cancelled. "

10. The following sentence shall be added to section 49 (2) (1):

" As far as the persons entitled to benefit from a pension fund with a minimum payment guarantee, a change to the security VRG according to lit. b declares, requires in the pension fund contract as well as in the collective agreement, in the operating agreement or in the agreement in accordance with the contract model according to the company law as well as in the declaration pursuant to § 3 para. 2 PKVG or a similar No agreement on the exclusion of the minimum contract guarantee in accordance with § 2 para. 1. "

(11) The following paragraph 38 is added to § 51:

" (38) § 23 (1) (3a), § 25 (1) Z 5 (a), § 27 (5) (2b) and section 33 (8) to (8b) as amended by the Federal Law BGBl (Bundesgesetz BGBl). I n ° 184/2013 are due to 1. Jänner 2014 in force. "

Article 19

Change of company employee and self-employment law

The company employee and self-employment pension law-BMSVG, BGBl. No 100/2002, as last amended by the Federal Law of the Federal Republic of Germany (BGBl). I n ° 138/2013, shall be amended as follows:

1. § 20. Paragraph 1 reads as follows:

"(1) A BV cash register shall at all times have eligible own funds in accordance with Part 2 of Regulation (EU) No 575/2013, equal to 0.25 vH of the total amount of the handling qualifying."

2. § 30 sec. 2 Z 2 reads:

" 2.

Loans and loans granted in the application of the provision of Article 400 (1) (1) (1). a of Regulation (EU) No 575/2013 would be subject to zero weighting, "

3. In § 30 para. 3 Z 8 lit. b becomes the reference "§ 22a BWG" by reference "Part 3, Title II, Chapter 2 of Regulation (EU) No 575/2013" replaced.

4. In § 31 (1) (3a) the reference shall be made in each case "§ 22a BWG" by reference "Part 3, Title II, Chapter 2 of Regulation (EU) No 575/2013" replaced.

(5) The following paragraph 22 is added to Article 73:

" (22) § 20 (1), § 30 (2) (2) (2) and (3) (3) Z 8 lit. b as well as § 31 paragraph 1 Z 3a in the version of the Federal Law BGBl. I n ° 184/2013 are due to 1. Jänner 2014 in force. "

Article 20

Amendment of the Insurance Supervision Act

The Insurance Supervision Act, BGBl. No 569/1978, as last amended by the Federal Law BGBl. I No 70/2013, is amended as follows:

1. In Section 73b (4a) (1), the word order shall be "Insurance Holding Companies" through the phrase "Insurance holding companies, mixed financial holding companies" replaced.

2. § 86a (1) (2) is:

" 2.

National insurance undertakings which are a subsidiary undertaking of an insurance holding company, a mixed financial holding company or a parent insurance undertaking established in a third country shall, in accordance with the conditions laid down in § 86c (2) to (5) and (86d) to 86l, provided that the parent insurance holding company, the parent mixed financial holding company or the parent insurance undertaking with its head office in a third country does not itself Insurance undertakings established in a Contracting State as parent company, "

3. In § 86a (2) Z 6, the word order shall be " within the meaning of Directive 2002 /87/EC (OJ L 206, 22.7.2002 No. OJ L 35, 11 February 2003, p. 1) is deleted.

4. In § 86a (2) Z 7, the phrase "financial holding company within the meaning of Directive 2002 /87/EC" through the phrase "mixed financial holding company" replaced.

5. In accordance with § 86a (2) Z 7, the following Z 8 is added:

" 8.

mixed financial holding company, a mixed financial holding company in accordance with § 2 Z 15 FKG. "

6. According to Article 86a (3), the following paragraphs 4 to 6 are added:

" (4) Into the extent that a mixed financial holding company, in particular with regard to risk-based supervision, is subject to equivalent provisions of this Federal Law and of the FKG, the FMA may, after consulting the other supervisory authorities concerned shall decide that only the relevant provisions of the FKG shall be applied at the level of this mixed financial holding company.

(5) Into the extent that a mixed financial holding company, in particular with regard to risk-based supervision, is subject to equivalent provisions of this Federal Law and the Federal Elections Act, the FMA may, in agreement with the competent authority, be the consolidating supervisor for the banking and investment services industry decides that only the provision of the BWG or of this federal law shall be applied at the level of this mixed financial holding company, whichever is the Financial industry according to § 2 Z 7 FKG with the higher average share is represented.

(6) The FMA shall inform the EBA and the EIOPA of any decisions taken pursuant to paragraphs 4 and 5. "

7. In § 86f (1), the word order shall be "Insurance holding companies which hold a participation in the broader sense of insurance undertakings (intermediated insurance holding companies)" through the phrase " Insurance holding companies or mixed financial holding companies which hold a shareholding in the broader sense of insurance undertakings (intermediated insurance holding companies or intermediaries in the intermediary sector) Financial holding companies) " replaced.

8. In § 86f (2), the word order shall be "insurance holding companies, and the parent company itself, provided that it is an insurance holding company or an insurance undertaking" through the phrase " insurance holding companies or intermediate mixed financial holding companies, as well as the parent company itself, provided that it is an insurance holding company, a mixed Financial holding company or an insurance undertaking " replaced.

9. In § 86j (2), after the word order "Insurance Holding Companies" the phrase "or mixed financial holding companies" inserted.

10. § 98b (2) reads:

The insurance undertaking shall disclose to the person who wishes to establish a business relationship with the insurance undertaking whether he or she acts as a trustee; the latter shall comply with the invitation and in that respect, To immediately announce changes during an upright business relationship. If he is aware that he wishes to act as a trustee, he shall also have to prove the identity of the trustee to the insurance undertaking and the insurance undertaking has the identity of the trustee to be identified and verified. The identity of the trustee shall be determined in accordance with paragraph 1, exclusively in the case of the physical presence of the trustee. An identification of the trustee by third parties is also excluded. The identification and verification of the identity of the trustee shall be carried out in the case of natural persons by presenting the original or a copy of the official photo ID (par. 1) of the trustee shall be effected in the case of legal persons by means of convicted documents in accordance with paragraph 1. The trustee shall also make a written statement to the insurance undertaking that he or she has personally or by a reliable guarantee convinced of the identity of the trustee. Reliable persons in this sense are courts and other state authorities, notaries, lawyers and third parties in the sense of § 98e. "

11. The following paragraph 35 is added to § 119i:

" (35) § 73b Abs. 4a Z 1, § 86a Abs. 1 Z 2, Abs. 2 Z 6, 7 und 8, sec. 4 bis 6, § 86f, § 86j Abs. 2 und § 98b Abs. 2 in der Version des Bundesgesetz BGBl. I n ° 184/2013 are due to 1. Jänner 2014 in force. "

Fischer

Faymann