Financial Conglomerate Quarterly Report Regulation Fk-Quab-V

Original Language Title: Finanzkonglomeratsquartalsberichts-Verordnung - FK-QUAB-V

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101. Regulation of the financial market authority (FMA) on quarterly reports and credit risk mitigation of financial conglomerates (financial conglomerate quarterly report regulation FK-QUAB-V)

On the basis of § 9 par. 5 and § 14 para 5 of the financial conglomerates Act - FKG, Federal Law Gazette I no. 70/2004, as last amended by the Federal Act Federal Law Gazette I no. 141/2006, – relating to § 14 para 5 FKG with approval of the Federal Minister for finance - prescribed:

1 section

Reporting requirements

Registration, submission



§ 1 (1) the Additionally supervised company in accordance with § 5 FKG has to transmit paragraph 9 and 10 FKG with regard to credit risk concentrations and intra-group transactions according to the system within four weeks after the end of each calendar quarter of the FMA quarterly reports to comply with the provisions of §. These quarterly reports are to submit also the Austrian National Bank.

(2) if not otherwise noted in the Appendix, amounts in thousands of euros and percentages to the second decimal place are clearly stated.

(3) foreign currency positions shall be converted on the basis of the euro reference rate of the European Central Bank (ECB) at the reporting date in euros. No euro the ECB reference rate is available for a currency exchange resources rates at the reporting date are to be used.

(4) the messages of the quarterly reports are to repay in a standardised form by means of electronic transmission. This applies also to an empty message and the information sheet.

2. section

Concentration of credit risk

Message of the concentration of credit risk



2. (1) a concentration of credit risk within the meaning of § 2 Z 19 FKG is pursuant to part II of the system to report, as soon as the set thresholds are exceeded for the financial conglomerate through administrative decision by the FMA in accordance with § 9 para 3 FKG.

(2) credit risk concentrations are doing to a customer and, if necessary, to a group of connected clients in accordance with § 27 para 4 and 4a BWG. To the extent that § 27 I no. 141/2006 by companies of the financial conglomerate applied Banking Act in the version of Federal Law Gazette, 27 par. 4 and 4a Banking Act in the version of Federal Law Gazette are I for the purposes of this regulation, credit risk concentrations, compared to a customer and, if necessary, to a group of connected clients in the sense of § no. 141/2006.

(3) section 27 para 5 BWG is for the attribution of the concentration of credit risk to a third party shall apply in place of the word "Large investment", the word "Concentration of credit risk" is that the test stated in its no. 1 by a regulated company pursuant to § 2 No. 5 lit. a FKG has to be carried out and in its no. 2 last sentence listed securities not included in the own funds of the companies of the financial sector pursuant to article 2 may be Z 7 FKG of the financial conglomerate.

(4) as far as § 27 I no. 141/2006 by companies of the financial conglomerate applied Banking Act in the version of Federal Law Gazette, § 27 para 5 is BWG I also for the attribution of the concentration of credit risk to a third party by way of derogation from paragraph 3 as amended by Federal Law Gazette No 141/2006 shall apply. The requirements are in section 3 apply mutatis mutandis.

(5) any credit risk concentration within the meaning of paragraph 1 is to represent pursuant to part II of the annex to this regulation.

Determine of the amount of credit risk concentration and exceptions



§ 3 (1) in determining the amount of a credit risk concentration is that occurs in place of the word "Large investment" and "Investment" the word "Concentration of credit risk" section 27, paragraph 2 to apply set, 2a and 2B BWG shall last.

(2) as far as § 27 I no. 141/2006 by companies of the financial conglomerate applied Banking Act in the version of Federal Law Gazette, section 27, paragraph 2 is by way of derogation from paragraph 1 also in determining the amount of a credit risk concentration last sentence and 2a to 2 c BWG as amended by Federal Law Gazette I no 141/2006 shall apply. This shall apply with the proviso that in place of the word "Large investment" and "Investment" the word "Credit risk concentration" shall.

(3) credit insurance contracts are addition with the amount of the sum of insured to capture, with contracts, where both are credit-gewaehrendes as well as versicherndes company part of the financial conglomerate, to capture only once during the insured company.

(4) investment of unit - or index-linked life insurance can be excluded from the calculation of the amount of credit risk concentration.

Weighting the risks



They are § 4 (1) solely for the purposes of § 5 according to § 3 values determined using the principles of section 27 par. 3 weight BWG, where instead of the word "Bank Group" the word "Financial conglomerate" and in place of the word "Large investment" is the word "Concentration of credit risk". He lit in article 27 para. 3. f BWG used term "credit gewaehrendes Institute" Z 7 FKG refers for the purposes of this regulation on a financial industry pursuant to section 2.

(2) in so far as paragraph 27 I no. 141/2006 by companies of the financial conglomerate applied Banking Act in the version of Federal Law Gazette, values determined in accordance with section 3 using the principles of article 27 par. 3 to 3d Banking Act in the version of Federal Law Gazette are by way of derogation from paragraph 1 for the application of section 5 I no. 141 / 2006 to weight, and instead of the word "Bank Group" the word "Financial conglomerate" and instead of the word "Large investment" and "Investment" is the word "Concentration of credit risk". He lit in article 27 para. 3. f BWG as amended by Federal Law Gazette I no. 141/2006 used term 'credit gewaehrendes credit institution' Z 7 FKG refers for the purposes of this regulation on a financial industry pursuant to section 2.

(3) credit insurance contracts are with the weight of the insured risk.

Limiting the concentration of credit risk



§ 5. Each notifiable concentration of credit risk within the meaning of section 2 is subject to the following provisions to limit:



1 customers within the meaning of § 27 4 weighted. the aggregate amount of credit risk concentration for each client or group connected and 4a BWG may not exceed 25 per cent of the eligible own funds at the level of the financial conglomerate.

2. the aggregate amount of weighted concentration of credit risk at a company within the Group of companies, which constitute a financial conglomerate pursuant to the FKG, must not exceed 20 vH of the eligible own funds at the level of the financial conglomerate.

3. the sum of the individual weighted credit risk concentrations may not exceed 800 vH of the eligible own funds at the level of the financial conglomerate.

4. § 103 No. 21 lit. d BWG is to apply subject to the proviso that the word credit risk concentration takes place of the word "Major investment".

3. section

Group-internal transactions

Message of Group internal transactions



§ 6. An intra-group transaction within the meaning of § 2 Z 18 FKG is to sign, as soon as the set thresholds are exceeded for the financial conglomerate through administrative decision by the FMA in accordance with § 10 section 3 FKG pursuant to part III of the plant.

Determine of the amount of an intra-group transaction



7. (1) intra-group transaction be considered following transactions, the transaction amount is recorded as follows:

Loans with the loan amount;

Loans with the credit sum;

Business in accordance with Appendix 1 to section 22 BWG with their nominal value;

Business in accordance with Annex 2 to section 22 BWG after one of the methods of section 22 paragraph 5 and 6 Banking Act without taking into account a weighting of the Contracting Parties;

Insurance contracts in accordance with no. 4, 5, 6, 7, 8, 9, 11, 12, 13, 14, 15, 16 of Appendix A to § 4 para. 2 VAG with their insurance amount;

Credit insurance business with the credit sum;

Cost sharing arrangements with the amount of attributable cost;

Capital investment business with the amount of invested capital;

Regarding shops, the capital if they are recognised as such in accordance with the relevant sectoral rules.

(2) in determining the amount of an intra-group transaction are standard conditions to consider. Is an intra-group transaction completed not to normal market conditions, the transaction value of the actually agreed to sign is in addition.

(3) intra-group transactions transactions within the meaning of § 2 considered Z 18 FKG between companies of the financial conglomerate, in which at least a transaction partner is a regulated company. Not take into account transactions between companies, are the same financial sector in accordance with § 2 Z 7 FKG belong to.

4 section

Transitional and final provisions

Application rules




§ 8. Until the expiry of 12 months after the entry of the legal force of a finding pursuant to § 4 paragraph 2 FKG by the FMA, in any case, until March 31, 2008, apply for a financial conglomerate of 35 per cent of the eligible own funds at the level of the financial conglomerate as a ceiling on the aggregate amount of weighted concentration of credit risk at a customer or a group of connected clients in the sense of § 27 4 and 4a BWG , provided that the aggregate amount of weighted credit risk concentration compared to the respective customer or group of connected clients in accordance with § 27 para 4 and 4a Banking Act at the time of the initial applicability of this regulation to a financial conglomerate has exceeded 25 vH of the eligible own funds at conglomerate level.

References



§ 9. As far as referenced in this regulation on the Banking Act (BWG), this is, if nothing else is determined in this Regulation applies, in the version of Federal Law Gazette I 48/2006 no..

First-time message



§ Are 10 messages in accordance with this regulation to reimburse for the first time on the date of June 30, 2007.

Pribil trust Müller

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