Key Benefits:
25. Regulation of the Financial Markets Authority (FMA) on the content and level of detail of banks ' restructuring plans (Bank Lending Plan Regulation-BaSaPV)
Pursuant to § 4 (1) and (2) in conjunction with Section 4 (3) of the Sancation and Settlement Act (BaSAG), BGBl. I n ° 98/2014, shall be arranged:
Scope
§ 1. This Regulation shall apply to undertakings within the meaning of Article 1 (1) (1) (1) and (4) BaSAG, which are not directly supervised by the European Central Bank pursuant to Article 6 (4) of Regulation (EU) No 1024/2013 (§ 6).
Definitions
§ 2. For the purposes of this Regulation:
| 1. |
Category 1 companies: |
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| a) |
Institutions according to § 2 Z 23 BaSAG, which are obliged to draw up a restructuring plan according to § 8 para. 1 BaSAG and whose balance sheet total does not exceed the amount of EUR 350 million in the last audited annual financial statements; |
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| b) |
EU parent companies according to § 2 Z 84 BaSAG, which are obliged to draw up a group restructuring plan in accordance with Article 15 (1) if the consolidated balance sheet total of the group, in the case of the last audited annual financial statements, amounts to the amount of 350 million shall not exceed the euro; or |
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| c) |
Central institutions of institute-related security systems according to Art. 113 (7) of Regulation (EU) No. 575/2013, which are obliged to draw up a group restructuring plan in accordance with § 6 paragraph 2 in conjunction with § 15 para. 1 BaSAG if the consolidated or aggregate balance sheet total in accordance with Art. 113 (7) (lit). e Regulation (EU) No 575/2013 does not exceed the amount of EUR 350 million in respect of the last audited annual financial statements. |
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| 2. |
Category 2 companies: |
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| a) |
Institutes according to § 2 Z 23 BaSAG, which are obliged to draw up a restructuring plan according to § 8 paragraph 1 BaSAG and are not institutions of category 1, to the extent that: |
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| aa) |
whose balance sheet total does not exceed the amount of EUR 5 billion in the last audited annual financial statements, |
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| bb) |
the foreign business of which the last audited annual financial statements do not actively-or passively, do not exceed a share of the balance sheet total of 30%, and |
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| cc) |
whose interbank transaction does not, in the case of the last audited annual financial statements, not exceed a share of the balance sheet total of 50% on the part of the balance sheet; |
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| b) |
EU parent companies according to § 2 Z 84 BaSAG, which are obliged to draw up a group restructuring plan according to § 15 para. 1 BaSAG and are not institutes of category 1, to the extent that: |
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| aa) |
the balance sheet total of the group does not exceed the amount of EUR 5 billion in the last audited annual financial statements, |
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| bb) |
the foreign business of the group does not exceed a share of the balance sheet total of 30% of the last audited annual financial statements, and |
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| cc) |
the interbank business of the Group, in the case of the last audited annual financial statements, does not exceed a share of the balance sheet total of 50%; or |
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| c) |
Central institutions of institute-related security systems in accordance with Art. 113 (7) of Regulation (EU) No. 575/2013, which is obliged to draw up a group restructuring plan pursuant to § 6 paragraph 2 in conjunction with § 15 paragraph 1 BaSAG and not category 1 to the extent that: |
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| aa) |
the consolidated or aggregated balance sheet total in accordance with Art. 113 (7) (lit). e Regulation (EU) No 575/2013 does not exceed the amount of 5 billion euros in the last audited annual financial statements, |
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| bb) |
the foreign business of the institute-related security system does not, in the case of the last audited annual financial statements, not exceed a share of the balance sheet total of 30% on the part of the balance sheet and neither on the passive side nor on the liabilities side, and |
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| cc) |
the interbank business of the institute-related security system, in the case of the last audited annual financial statements, neither actively-nor passively exceeds a share of the balance sheet total of 50%. |
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| 3. |
Category 3 companies: |
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| a) |
Institutions which are obliged to draw up a restructuring plan in accordance with § 8 (1) BaSAG and are not assigned to category 1 or 2; |
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| b) |
EU parent companies, which are obliged to draw up a group training plan in accordance with Article 15 (1) and are not classified as category 1 or 2; |
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| c) |
Central institutions of institute-related security systems, which are obliged to draw up a group restructuring plan in accordance with § 6 para. 2 in conjunction with § 15 para. 1 BaSAG and are not to be assigned to category 1 or 2. |
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Proportionality
§ 3. (1) The restructuring plans and the group restructuring plans of the companies according to § 1 shall comply with the requirements of § § 8 to 10 as well as § § 15 and 16 BaSAG and the annex to § 9 BaSAG with the following restrictions:
| 1. |
Category 1 companies: |
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| a) |
§ 9 para. 2 BaSAG is to be applied with the proviso that the remedial plan has to contain a systemic scenario; |
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| b) |
Section 10 (1) of the BaSAG is to be applied with the proviso that the recovery plan must contain the following indicators: |
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| aa) |
the hard core capital ratio in accordance with Article 92 (2) (a) of Regulation (EU) No 575/2013, |
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| bb) |
Total capital ratio pursuant to Art. 92 (2) (c) of Regulation (EU) No 575/2013, |
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| cc) |
Liquidity coverage requirement (minimum liquidity ratio) in accordance with Art. 412 (1) of Regulation (EU) No. 575/2013, |
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| dd) |
Total capital profitability, |
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| ee) |
Debtor failure rate to be calculated in accordance with Art. 178 (1) of Regulation (EU) No 575/2013. |
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| 2. |
Category 2 companies: |
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| a) |
§ 9 para. 2 BaSAG is to be applied with the proviso that the remediation plan has to contain a systemic and an idiosyncratic scenario; |
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| b) |
§ 10 para. 1 BaSAG shall apply with the proviso that the recovery plan shall include the indicators according to Z 1 lit. b has to be included. |
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| 3. |
Category 3 companies: |
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| a) |
§ 9 para. 2 BaSAG is to be applied with the proviso that the remediation plan has to contain a systemic and an idiosyncratic scenario as well as a systemic-idiosyncratic combination scenario; |
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| b) |
§ 10 para. 1 BaSAG shall apply with the proviso that the recovery plan shall include the indicators according to Z 1 lit. b) as well as a further indicator from the areas of liquidity, profitability and quality of assets. |
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(2) Companies in category 3 may submit a reasoned request that only the necessary scenarios and indicators of paragraph 1 (1) (2) must be included in their recovery plan. The application shall be accepted if such a reduction is appropriate on the basis of the nature, scope and complexity of the business activity, the structure of participation, the legal form and the risk profile of the applicant.
Date of transmission of the recovery plan
§ 4. The following provisions shall apply for the date of transmission of the Sanation Plan to the FMA:
| 1. |
The first transmission of the recovery plan for category 1 companies shall be carried out by 30 November 2015 at the latest; |
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| 2. |
the first-time transmission of the recovery plan for the companies in categories 2 and 3 shall be carried out by 30 September 2015 at the latest. |
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Frequency of updating the refurbelling plan
§ 5. The frequency of updating the remediation plan shall be as follows:
| 1. |
Category 1 companies must update the recovery plan at least every two years and submit it to the FMA. The FMA is entitled to apply an annual update to the Institute; |
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| 2. |
The companies in categories 2 and 3 shall update the recovery plan at least once a year and shall forward it to the FMA. |
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References
§ 6. Where reference is made in this Regulation to European acts, the following shall apply:
| 1. |
in the case of Regulation (EU) No 1024/2013: |
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| Regulation (EU) No 1024/2013 on the transfer of specific tasks relating to the prudential supervision of credit institutions to the European Central Bank, OJ L 327, 28.10.2013, p. No. OJ L 287, 29.10.2013 p. 63; |
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| 2. |
in the case of Regulation (EU) No 575/2013: |
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| 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. 1., as amended by the corrigendum OJ L 176, 15.7.2013, p. No. OJ L 321 of 30.11.2013 p. 6. |
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entry into force
§ 7. This Regulation shall enter into force with the day following the presentation.
Ettl Kumpfmüller
