Austria’s Financial Market Authority (FMA) and the Oesterreichische Nationalbank (OeNB) have today signed a Memorandum of Understanding with the Central Bank of the Russian Federation on cooperation in the field of banking supervision. This MoU simplifies cross‑border cooperation with this non-EU Member State, by specifying the legislative provisions for application in the supervisory process. This step is of particular importance in view of the significant activities of Austrian banks (Raiffeisen Group, Unicredit/Bank Austria Group) in Russia and those of Russian banks in Austria (VTB), and in recognition of Russia’s key position in the system of global finance and the role of the FMA and OeNB as group supervisors of banking groups. With this MoU, the FMA and OeNB have reinforced their efforts to achieve more concerted cooperation with sister authorities and central banks in Central, Eastern and South-Eastern Europe.
For further information please contact
Klaus Grubelnik (FMA Media Spokesperson)
+43/(0)1/24959-5106
+43/(0676)/882 49 516