Last Update: 14.02.2014
Supervisory Disclosure Requirements under Basel III
In this section of its homepage, the FMA displays and provides access to information regarding the implementation of Basel II in Austria. The supervisory disclosure framework was designed by the former Committee of European Banking Supervisors (CEBS) and is based on Article 143 (1) of Directive 2013/36/EU ("CRD IV") (transposed in Article 69b of the Austrian Banking Act - BWG).
According to Article 69b (1) BWG, the FMA must publish and regularly update the following information on the internet:
1. the texts of the laws and regulations applicable to the field of banking supervision;
2. the minimum standards and circulars published by the FMA in the field of banking supervision;
3. the exercising of the options introduced by Regulation (EU) No 575/2013 or by Directive 2013/36/EU;
4. the general criteria and methods applied in the review and assessment of a credit institution’s risk management and risk coverage pursuant to Article 39a; such information must also be provided to the EBA;
5. with due adherence to banking secrecy requirements (Article 38) and to professional secrecy requirements under Title VII, Chapter 1, Section II of Directive 2013/36/EU and to Articles 54 and 58 of Directive 2004/39/EC, aggregate statistical data on central aspects of the implementation of supervisory framework legislation, including the number and type of supervisory measures imposed under Article 70 paras. 4 to 4c, as well as the fines imposed;
6. general criteria and methods for verifying compliance with securitisation requirements pursuant to Articles 405 to 409 of Regulation (EU) No 575/2013;
7. in compliance with official secrecy a summary description of the results of the supervisory review and a description of the measures imposed in the event of violations of Articles 405 to 409 of Regulation (EU) No 575/2013 by way of an annual report until 31 March of the following year at the latest; regular updates during the year shall not be made;
8. a list of global systemically important institutions (G-SIIs) and other systemically important institutions (O-SIIs) incorporated in Austria while taking into account the subcategory assigned in each case.
(2) If approval is granted for an exemption under Article 6(3) or Article 8(1) of Regulation (EU) No 575/2013, the FMA must publish and regularly update the following general information on the internet:
1. the criteria for determining that no material practical or legal impediment to the prompt transfer of own funds or payment of liabilities exists or is foreseen;
2. the number of parent institutions that are benefited by the exercise of discretion under Article 6(3) or Article 8(1) of Regulation (EU) No 575/2013, as well as the number of the institutions having subsidiaries in a third country;
3. the aggregated data:
a) the total amount of consolidated own funds that the parent institutions hold in subsidiaries in a third country,
b) with regard to a parent institution for which an exemption was approved, the percentage of the parent institution’s consolidated own funds held in subsidiaries in a third country.
(3) The FMA shall collect the information on remuneration policy that credit institutions are required to disclose under Article 450(1)(g), (h) and (i) of Regulation (EU) No 575/2013 and shall use this information to determine trends in this area. The FMA must forward the results of such evaluations to the EBA. In addition, the FMA shall collect information on the number of employees of a credit institution who receive at least EUR 1 million in remuneration each financial year, broken down into pay bands of EUR 1 million and including the individual’s responsibilities, the business area concerned and the main salary components, as well as bonus payments, long-term bonuses and pension contributions, and shall forward this information to the EBA.
The supervisory disclosure framework aims at allowing a meaningful comparison of the EU-wide Basel III implementation.