Change The Maximum Interest Rate Regulation

Original Language Title: Änderung der Höchstzinssatzverordnung

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298. 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. 68/2015, is prescribed:

The regulation of the financial market authority mark (FMA), with a maximum rate for the calculation of the technical provisions in life insurance is set (maximum interest rate regulation), Federal Law Gazette No. 70/1995, last amended by Federal Law Gazette I no. 34/2015, is amended as follows:

1 paragraph 3 section 2:

"(2) the interest additional provision (nper) is to make at least the following height:"



The value of interest supplementary provisions in the year t emerges as a product from the provision of balance sheet group life insurance at time t-1 (section 81 c par. 3 post D.II. VAG) and the average guaranteed interest rate of life insurance portfolios of the insurance undertaking, where t fiscal year, DRt referred to the reference interest rate premium reserve in the year t, ZZRt the nper in year t, the average guaranteed interest rate of an insurance undertaking in the year t and RZSt in year t. Reference interest rates the annual value of the secondary market yield of Austrian Federal bonds, or index arising in its place is to be used.

"The average guaranteed interest rate in year t, corresponds to the ratio of the total guaranteed interest earned in the year t and the provision of balance sheet group life insurance pursuant to section 81 c § 3 Item D.II. VAG at the time t-1."

2 the following paragraph 6 is added to in section 3:

"(6) the value of nper for 2015 in accordance with paragraph 2 increases of 60% referred to in paragraph 2 in the year 2015 to fine ZZR."

3. § 6 the following paragraph 10 is added:

"(10) section 3 para 2 and 6 in the version of regulation BGBl. II No. 298/2015 with the day following the by-laws enter into force"

Ettl Kumpf Müller