New Capital Requirements for Credit Institutions and Investment Firms
On June 26, 2004, the Basel Committee on Banking Supervision published the revised framework on the international convergence of capital measurement and capital standards (Basel II). The revision of the current capital regime dating from 1988 aims to measure risks arising from credit business more accurately which in turn shall result in more risk sensitive capital requirements. Overall aim is the improvement of the security and soundness of the financial system. The recommendations of the Basel II Accord of the Basel Committee will be implemented for all credit institutions and investment firms within the EEA by recasting two existing EU directives.
This part of the FMA web site is designed to supply the interested public with basic information on Basel II, to inform on most recent developments and to provide a download facility for all Basel II relevant documents. Furthermore, the publication of fundamental issues with regard to the national implementation of Basel II – i.e. the co-ordinated position of the Austrian authorities (MoF, OeNB, FMA) regarding the exercise of the national discretions contained in the recast directives or legal interpretations – shall offer credit institutions and investment firms support.
The FMA will continuously extend this information tool in the course of national Basel II implementation, therewith complying with Art. 69b BWG.
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