Change The Disclosure Regulation

Original Language Title: Änderung der Offenlegungsverordnung

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462. Regulation of the financial market authority (FMA), modifies the disclosure Regulation

On the basis of § 26 para 7 of the law on banking - Banking Act, Federal Law Gazette No. 532/1993, as last amended by the Federal Act Federal Law Gazette I no. 145/2011, is prescribed:

The disclosure Regulation - OA, BGBl. II No 375/2006, as last amended by regulation BGBl. II no 337/2010, is amended as follows:

1 the following sentence is added to § the 10:

"In addition to the minimum capital requirement for the specific interest rate risk for securitisation positions must be separately disclosed."

2. paragraph 11:

The properties of the models used; "

(b) a description of the stress tests applied to the sub-portfolio;

(c) a description of the methods employed in back-testing (Backtesting) and the validation of the accuracy and consistency of internal models and modelling processes; and d) for the determination of the minimum capital requirement for default and migration risks of trading book positions, as well as an additional minimum capital requirements for specific risk of correlation trading portfolio, the methods used and the risks identified on the basis of an internal model, including a description of the procedure of the credit institution to determine liquidity horizons, as well as the methods that were used to reach a determination of the minimum capital requirement corresponding to the required reliability standard separately , and the procedures for the validation of the model;

2. the scope of application approved by the FMA of the used model;

3. a description of the extent and the methodology of the fulfilment of the requirements laid down in the paragraphs 198 to 202 SolvaV;

4. the end value as well as the highest, lowest and the average over the entire reference period from: a) the tag values of the potential amounts of risk (values at risk);

(b) the values of the potential risk amounts under stress conditions;

c) the minimum capital requirement for default and migration risks of trading book positions, as well as d) the additional minimum capital requirement for specific risk of correlation trading portfolio.

"5. the amount of minimum own funds requirements for default and migration risks of trading book positions, as well as exceptions separately for the specific risk of the correlation trade portfolio including the weighted average liquidity horizon for each sub-portfolio covered and 6 a comparison of daily values of the potential risk amounts at end of day with the one-day changes of in portfolio value at the end of the following business day, as well as an analysis of any significant the additional minimum capital requirement in accordance with section 228, subsection 2 SolvaV during the reporting period."

3. paragraph 15:

"§ 15. credit institutions calculating the weighted exposure amounts for securitised exposures in accordance with the § § 22 c and 22f BWG, - if necessary, after trading and non-trading book broke – following information to disclose: 1. an explanation of the objectives of the credit institution with regard to securitisation activity;"

2. the type of other risks including the liquidity risk associated with securitised exposures;

3. the types of risks that arise from the rank of underlying securitisation positions and the requirements underlying these positions adopted and kept in the course of re securitization;

4. the functions, which perceives the credit institution in the securitisation process;

5. details of the extent of involvement of the credit institution in each function;

6. a description of the procedures that observed changes in the credit risk and market risk of securitisation positions and is also tracked how the behavior of the underlying claims affects the securitisation position, as well as a description of these procedures to restart securitisation positions differ on what points;

7. a description of the rules, enacted in relation to hedging and unfunded institution to reduce the risks of holdout securitisation and restart securitisation positions, including a listing of all main parties; broken down by type of risk position

8. the approaches to the calculation of the weighted exposure amounts of that the credit institution applies for its securitisation activities, including the types of securitisation positions, on which the individual approaches are used;

9. the types of special purpose entities, which uses third parties the credit institution as a sponsor to the securitization of receivables, including whether and in what form and the credit institution has exposures to these special purpose entities extent, and separately for balance sheet, and balance sheet invalid claims, as well as a list of companies that managed or advised by the credit institution and in the securitisation exposures securitised by the credit institution or in the special purpose entities supported by the credit institution to invest;

10 a summary of accounting policies of for securitisation, including a credit institution) indicating whether the transactions as sales or financings treated;

b) of the card of gains on sales;

(c)) the methods, key assumptions, parameters and changes compared to the previous period for the assessment of securitisation positions;

d) the treatment of synthetic securitisations if this is not covered by other accounting policies;

(e) an indication of how claims should be represented, be assessed and whether in commercial or non-trading book of the credit institution are captured;

(f) the methods for the recognition of liabilities in the balance sheet in terms of agreements, which could oblige the credit institution to provide financial support for securitised exposures;

11. the names of the recognized rating agencies taken in securitisations in claim and the types of claims is removed for each agency

12. where applicable, a description of the internal assessment approach including the structure of the internal assessment process and the relation between internal assessment and external ratings, the use of internal assessment for purposes other than the calculation of equity under this approach, the control mechanisms for the internal assessment process including a discussion of independence, accountability and verification of the internal assessment process; the types of claims that the internal assessment process is applied, and broken down by exposure type stress factors based placed to determine the respective credit enhancement levels.

13. an explanation of any significant change that has occurred since the last reporting period in one of the quantitative information according to Z 14 to 17;

14. following information broken down by exposure type: a) the sum of the claim amounts, which will be represented by the credit institution and subject to the securitisation framework, broken down by traditional and synthetic securitisations and securitisations, where the credit institution acts only as sponsor;

(b) the amount of securitisation positions retained or purchased, in the balance sheet and the balance-sheet securitisation positions;

(c) the sum of the claims represented should be;

d) at facilities with early amortisation provision the aggregate amount of drawn exposures associated with the interests of the originator credit institution or investor, the sum of the capital requirements arising from the interests of the originator credit institution, and the sum of the capital requirements arising from the interests of the investor on amounts drawn and undrawn lines; the credit institution confirming

(e) the total of the items with 1 250% weighted or deducted pursuant to § 23 paragraph 13 Z 4 BWG d from own funds;

(f) claims, and the reported profit or loss on the sale of securitised a summary of the securitisation activity in the period, including the amount.

15 the following information: a) for each approach to the calculation of the minimum capital requirement the amount of securitisation positions retained or purchased together with the corresponding capital requirements broken down into securitisation and restart securitisation exposures and further broken down into a meaningful number of risk - or equity tapes;

b) the sum of the restart securitisation exposures retained or purchased broken down by exposure before and after hedging/insurance, and after exposure to financial guarantors, broken down by credit rating categories or name of the guarantor;

16. for the non-trading book and the exposures securitised by the credit institution the amount of securitized non-performing/delinquencies and losses recorded in the current period by the credit institution, both broken down by exposure type;


for the subject to trading book the sum of outstanding exposures securitised by the credit institution and a minimum capital requirement for market risk, broken down according to traditional/synthetic securitisations and the types of claims.

4. According to section 15 the following article 15a and heading shall be inserted:

"Remuneration policies and practices

section 15a. (1) credit institutions have for staff categories, the Tätigkeiten affect much on their risk profile, to disclose the following information: 1. an overview of the decision-making process leading to the determination of the remuneration policy, as well as, where appropriate, details of composition and mandate of the remuneration Committee, the name of the external consultant whose services have been used, in the determination of the remuneration policy and the role of the relevant stakeholders;

2. the link between remuneration and success;

3. the main design features of the remuneration system including information about the criteria for measuring success and risk orientation, the policy of provisions of the compensation payment and the ER vesting criteria.

4. the success criteria based on those shares, stock purchase rights and variable remuneration components will be decided;

5. the most important parameters and basic principles for models with variable components of remuneration and other benefits in kind;

6 aggregated quantitative information about fees, broken down by business segment;

7 aggregated quantitative information about compensation, broken down by higher management and employees, working affect a significant impact on the risk profile of the credit institution, from which the following emerges: a) the remuneration amounts for the fiscal year, divided into fixed and variable remuneration, as well as the number of beneficiaries;

(b) the amounts and forms of variable remuneration, divided in cash, shares and instruments linked to shares and other types.

(c) the amount of deferred compensation, divided in earned and still not parts; earned

(d) the amounts of deferred compensation that were granted, paid off and reduced as a result of power adjustments during the year;

(e) new payments during the financial year for setting premiums, as well as the number of beneficiaries of these payments; and f) the amounts of the payments granted during the financial year for severance pay, the number of beneficiaries, as well as the highest amount of these payments, which was awarded an individual.

(2) for credit institutions whose balance sheet total exceeds one billion euro or which have issued transferable securities that are admitted to trading on a regulated market in accordance with § 1 para 2 of the Exchange Act of 1989, you are in paragraph 1 to disclose quantitative information with regard to the Managing Director.

"(3) without prejudice to the provisions of the data protection Act 2000, Gazette I no. 165/1999, as amended by Federal Law Gazette I no. 135/2009, credit institutions are the requirements referred to in paragraphs 1 and 2 in such a way that their size, their internal organisation and the nature, after, corresponds to the scope and complexity of their operations."

5. in article 18, the phrase "and other risk transfer mechanisms" is inserted after the word "Insurance".

6 the following paragraph 3 is added to § in 20:

"No. 462/2011 contact II (3) § 10, section 11, § 15, § 15a of the heading and section 18 as amended the regulation BGBl. December 31, 2011 in force."

Ettl Pribil

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