{"id":37735,"date":"2022-02-28T00:31:40","date_gmt":"2022-02-27T23:31:40","guid":{"rendered":"https:\/\/www.fma.gv.at\/?p=37735"},"modified":"2022-02-28T00:56:48","modified_gmt":"2022-02-27T23:56:48","slug":"information-about-the-administrative-decision-regarding-the-moratorium-imposed-on-sberbank-europe-ag","status":"publish","type":"post","link":"https:\/\/www.fma.gv.at\/en\/information-about-the-administrative-decision-regarding-the-moratorium-imposed-on-sberbank-europe-ag\/","title":{"rendered":"Information about the Administrative Decision regarding the moratorium imposed on Sberbank Europe AG"},"content":{"rendered":"<?xml encoding=\"utf-8\" ?><p class=\"wp-block-paragraph\">The Single Resolution Board (SRB) has passed a resolution in relation to Sberbank Europe AG, which is required to be implemented by the Austrian Financial Market Authority (FMA) in its capacity as national resolution authority. <\/p><p class=\"wp-block-paragraph\">In implementing the SRB&rsquo;s decision, the FMA hereby instructs with regard to Sberbank Europe AG with its registered office at Schwarzenbergplatz 3, 1010 Vienna, Commercial Register no.&nbsp;FN 161285i), for the time frame between the publication of this emergency administrative decision by means of an edict until midnight of the next business day after its publication (therefore until 01.03.2022, 23:59:59) as follows:<\/p><p class=\"wp-block-paragraph\"><strong>I. <\/strong>payment and delivery obligations from contracts where Sberbank Europe AG is one of the contractual parties are suspended pursuant to Article&nbsp;47a para.&nbsp;1 of the Bank Recovery and Resolution Act (BaSAG). The suspension shall also relate to every counterparty of the contracts pursuant to Article&nbsp;47a para.&nbsp;6 BaSAG.<br><strong>II. <\/strong>Sberbank Europe AG&rsquo;s payment and delivery obligations in relation to eligible deposits pursuant to Article&nbsp;7 para.&nbsp;1 no.&nbsp;4 of the Deposit Guarantee and Investor Compensation Scheme Act (ESAEG), especially in relation to eligible deposits pursuant to Article&nbsp;7 para.&nbsp;1 no.&nbsp;5 ESAEG, shall be suspended pursuant to Article&nbsp;47a para.&nbsp;3 BaSAG. The suspension shall also relate to every counterparty of the contracts pursuant to Article&nbsp;47a para.&nbsp;6 BaSAG.<br><strong>III.<\/strong> Pursuant to Article&nbsp;47a para.&nbsp;2 BaSAG, payment and delivery obligations shall be excluded from the suspension towards:<br><strong>a.<\/strong> systems or operators of systems that were designated in accordance with Directive&nbsp;98\/26\/EC,<br><strong>b. <\/strong>central counterparties authorised in the European Union pursuant to Article&nbsp;14 of Regulation&nbsp;(EU) No.&nbsp;648\/2012, and central counterparties from third countries that were recognised by the European Securities and Markets Authority (ESMA) in accordance with Article 25 of Regulation&nbsp;(EU) No.&nbsp;648\/2012,<br><strong>c.<\/strong> central banks.<br><strong>IV. <\/strong>Pursuant to Article&nbsp;47a para.&nbsp;3 second sentence BaSAG, depositors of eligible deposits pursuant to Article&nbsp;7 para.&nbsp;1 no.&nbsp;4 ESAEG, shall have daily access to an appropriate amount of these deposits, of EUR&nbsp;100.<br><strong>V. <\/strong>The assertion of security interests of secured creditors of Sberbank Europe AG is prohibited pursuant to Article 47a para.&nbsp;10 BaSAG in conjunction with Article&nbsp;65 BaSAG.<br><strong>VI. <\/strong>The termination rights of a party to a contract with Sberbank Europe AG are suspended pursuant to Article 47a para.&nbsp;10 BaSAG in conjunction with Article&nbsp;66 BaSAG.<\/p><p class=\"wp-block-paragraph\"><a href=\"\/wp-content\/plugins\/dw-fma\/download.php?d=5605&nonce=353817f812e15bc6\" class=\"internal single-document-reference piwik_download\">Mandatsbescheid Moratorium Sberbank Europe AG (<span class=\"sr-only\">Format: <\/span>pdf, <span class=\"sr-only\">Size: <\/span>195,8 KB, <span class=\"sr-only\">Language: <\/span>German)<\/a>\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>information about the administrative decision<\/p>\n","protected":false},"author":20,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[86],"tags":[],"class_list":["post-37735","post","type-post","status-publish","format-standard","hentry","category-information-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - 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