02356cas a2200241 a 4500 AALejournalIMF020792 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513535814 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Monetary and Capital Markets Department. Austria : Publication of Financial Sector Assessment Program Documentation-Technical Note on Macroprudential Policy Framework and Tools. Washington, D.C. : International Monetary Fund, 2020. 1 online resource (31 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This technical note assesses strengths and weaknesses of the macroprudential policy framework in Austria and provides policy recommendations. Financial sector resilience in Austria has improved significantly since the global financial crisis, and the macroprudential policy framework has been formalized. The institutional framework is appropriate for conducting macroprudential policy effectively, but it could be strengthened in some areas. However, some structural vulnerabilities to financial stability remain and cyclical risks are on the rise. Banks' low efficiency and the resulting low profitability of domestic operations continues to be a key concern, especially given the fact that the Central Europe and South Eastern Europe region accounts for over 40 percent of Austrian banks' consolidated profits. The framework contains a clear mandate, well-defined objectives, and provides enough powers to the Financial Market Stability Board. Broad-based vulnerabilities remain contained but build-up of risks in the real estate sector warrants further action. The framework for addressing structural vulnerabilities is sophisticated, however, further improvements could be considered. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2020/064 Full text available on IMF http://elibrary.imf.org/view/journals/002/2020/064/002.2020.issue-064-en.xml IMF e-Library