{"id":42878,"date":"2023-02-27T18:04:53","date_gmt":"2023-02-27T17:04:53","guid":{"rendered":"https:\/\/www.fma.gv.at\/?page_id=42878"},"modified":"2023-02-28T13:29:17","modified_gmt":"2023-02-28T12:29:17","slug":"planning","status":"publish","type":"page","link":"https:\/\/www.fma.gv.at\/en\/resolution-in-general\/principles-of-resolution\/planning\/","title":{"rendered":"Planning"},"content":{"rendered":"<?xml encoding=\"utf-8\" ?><p class=\"wp-block-paragraph\">The <abbr title=\"Austrian Financial Market Authority\">FMA<\/abbr> &rsquo;s <strong>material tasks<\/strong> as the national resolution authority during the course of resolution planning include:<\/p><ul class=\"wp-block-list\">\n<li>the drawing-up and annual further development of resolution plans for credit institutions falling under the direct responsibility of the <abbr title=\"Austrian Financial Market Authority\">FMA<\/abbr> ,<\/li>\n\n\n\n<li>involvement in resolution planning for banks falling under the direct responsibility of the <abbr title=\"Single Resolution Board\">SRB<\/abbr> ,<\/li>\n\n\n\n<li>assessing and ensuring the resolvability of banks with a resolution outcome within the scope of resolution planning,<\/li>\n\n\n\n<li>conducting procedures for remedying impediments to resolution,<\/li>\n\n\n\n<li>opinions about the recovery plans under <abbr title=\"Bundesgesetz f&uuml;r die Sanierung und Abwicklung von Banken\">BaSAG<\/abbr>  and the corresponding interface to the Banking Supervision department,<\/li>\n\n\n\n<li>representation in <abbr title=\"European Banking Authority\">EBA<\/abbr>  and <abbr title=\"Single Resolution Board\">SRB<\/abbr>  working groups on issues with a relevance to resolution,<\/li>\n\n\n\n<li>legal monitoring and legislative development in the field of bank resolution,<\/li>\n\n\n\n<li><span style=\"color: initial;\">chairing or participating in resolution colleges<\/span> (<a href=\"https:\/\/www.fma.gv.at\/en\/resolution-in-general\/resolution-in-the-european-context-banking-union\/\">further information on resolution colleges<\/a>),<\/li>\n\n\n\n<li><span style=\"color: initial;\">holding workshops for credit institutions, to keep them up-to-date about changes and new developments regarding the various areas of bank resolution<\/span>,<\/li>\n\n\n\n<li><span style=\"color: initial;\">cooperation within the scope of resolution planning with credit institutions, e.g. in the area of submission of data and information<\/span>,<\/li>\n\n\n\n<li>ordering and\/or conducting of and official follow-ups to on-site inspections pursuant to Article&nbsp;113a <abbr title=\"Bundesgesetz f&uuml;r die Sanierung und Abwicklung von Banken\">BaSAG<\/abbr> .<\/li>\n<\/ul><p class=\"wp-block-paragraph\">The <abbr title=\"Austrian Financial Market Authority\">FMA<\/abbr>  is required to draw up a resolution plan for every credit institution that is established in Austria that is not under the direct responsibility of the SRB. Resolution planning is an iterative process, under which the resolution plan is updated and extended on an annual basis. If a credit institution is part of the banking group, and where the <abbr title=\"Austrian Financial Market Authority\">FMA<\/abbr>  in its capacity as the resolution authority is responsible for the resolution of the banking group, then the <abbr title=\"Austrian Financial Market Authority\">FMA<\/abbr>  is required under Article&nbsp;22 <abbr title=\"Bundesgesetz f&uuml;r die Sanierung und Abwicklung von Banken\">BaSAG<\/abbr>  to draw up a group resolution plan. Resolution plans are required &ndash; irrespective of the credit institution&rsquo;s current economic situation &ndash; to be reviewed on at least an annual basis, and to be updated as necessary. Once resolution plans have been drawn up, they are sent to the <abbr title=\"Single Resolution Board\">SRB<\/abbr>  as well as the competent banking supervision authority (<abbr title=\"European Central Bank\">ECB<\/abbr>  or <abbr title=\"Austrian Financial Market Authority\">FMA<\/abbr> ) for commenting. Once an appraisal of the resulting opinions has been conducted, and the annual resolution planning cycle concluded, a summary of the main components of their resolution plan is disclosed to the credit institutions.<\/p><p class=\"wp-block-paragraph\">The contents of a resolution plan stipulated under <abbr title=\"Bundesgesetz f&uuml;r die Sanierung und Abwicklung von Banken\">BaSAG<\/abbr>  include:<\/p><ul class=\"wp-block-list\">\n<li>a summary of the plan&rsquo;s main components,<\/li>\n\n\n\n<li>remarks about critical functions and their separability from the respective credit institution&rsquo;s other functions, to ensure its continuing operation,<\/li>\n\n\n\n<li>explanations about critical interdependencies,<\/li>\n\n\n\n<li>applicable resolution strategies,<\/li>\n\n\n\n<li>explanations about financing of options of resolution,<\/li>\n\n\n\n<li>a plan for communicating with the media and the public,<\/li>\n\n\n\n<li>a detailed resolvability assessment, as well as<\/li>\n\n\n\n<li>measures for removing impediments to resolvability.<\/li>\n<\/ul><p class=\"wp-block-paragraph\">The <strong>Minimum Requirement for Own Funds and Eligible Liabilities (<abbr title=\"Minimum Requirement for Own Funds and Eligible Liabilites\">MREL<\/abbr> )<\/strong> that credit institutions are required to have available for financing planned resolution tools is particularly significant for the feasibility of the planned resolution strategies, in order in the event of resolution to have adequate <strong>loss absorbing capacity<\/strong> and <strong>recapitalisation options<\/strong>: Under Article&nbsp;100 para.&nbsp;1 <abbr title=\"Bundesgesetz f&uuml;r die Sanierung und Abwicklung von Banken\">BaSAG<\/abbr>  every credit institution is required to observed the requirements for a minimum requirement for own funds and eligible liabilities (<abbr title=\"Minimum Requirement for Own Funds and Eligible Liabilites\">MREL<\/abbr>  requirement). The respective <abbr title=\"Minimum Requirement for Own Funds and Eligible Liabilites\">MREL<\/abbr>  requirements are determined by the resolution authority and communicated to credit institutions on an annual basis. In determining the <abbr title=\"Minimum Requirement for Own Funds and Eligible Liabilites\">MREL<\/abbr>  requirements, the resolution must in particular take into consideration the standards and criteria stated in Article&nbsp;102 <abbr title=\"Bundesgesetz f&uuml;r die Sanierung und Abwicklung von Banken\">BaSAG<\/abbr> .<\/p><div id=\"reference-6a3859d1a176d\" class=\"reference\"><h3 class=\"reference-heading\"><span class=\"fas fa-balance-scale\" aria-hidden=\"true\"><\/span>Legal Basis<\/h3><p><\/p><p><a class=\"external\" href=\"https:\/\/www.ris.bka.gv.at\/GeltendeFassung.wxe?Abfrage=Bundesnormen&amp;Gesetzesnummer=20009037\" target=\"_blank\" rel=\"noopener\">Bundesgesetz &uuml;ber die Sanierung und Abwicklung von Banken (BaSAG)<\/a><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The &rsquo;s material tasks as the national resolution authority during the course of resolution planning include: The is required to &#8230;<\/p>\n","protected":false},"author":60,"featured_media":0,"parent":42765,"menu_order":1,"comment_status":"closed","ping_status":"closed","template":"","meta":{"inline_featured_image":false,"footnotes":""},"class_list":["post-42878","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - 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