Change The Maximum Interest Rate Regulation

Original Language Title: Änderung der Höchstzinssatzverordnung

Read the untranslated law here: https://www.global-regulation.com/law/austria/2997204/nderung-der-hchstzinssatzverordnung.html

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354 regulation of the financial market authority (FMA), modifies the maximum interest rate regulation

On the basis of § 85 para 1 and 2 No. 2 of the insurance supervision Act - VAG, BGBl. No. 569/1978, as last amended by Federal Law Gazette I no. 54/2012, is prescribed:

The regulation of the financial market authority mark (FMA), used to set a maximum rate for the calculation of the technical provisions in life insurance (maximum interest rate regulation), Federal Law Gazette No. 70/1995, last amended by regulation Federal Law Gazette II No. 357/2010, is amended as follows:

1. in article 2, paragraph 1, first sentence, the value is "2 vH" is replaced by the value "1.75 vH".

The following paragraph 7 is added to 2. § 6 section 6:

"(7) § 2 para 1 in the version of regulation BGBl. II is no. 354/2012 on insurance contracts to apply, entered into after December 20, 2012 or their insurance after March 31, 2013."

Ettl Pribil