02243cas a2200241 a 4500 AALejournalIMF020795 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513535869 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 Banking Oversight. Washington, D.C. : International Monetary Fund, 2020. 1 online resource (20 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 paper on Austria includes a targeted review of banking regulation and supervision, with a focus on topics related to the supervision of less significant institutions. The national transposition and implementation of EU directives and regulations has significantly closed some of the gaps identified in 2013. Oversight of bank loan portfolios was strengthened by guidance from the European Central Bank and European Banking Authority (EBA) concerning nonperforming loans and forborne exposures, and by EU regulation. As noted in the previous Basel Core Principles assessment, the Austrian Banking Act (BWG) and regulations do not establish an adequate framework for monitoring and addressing transactions with related parties; and the BWG does not require ex-ante approval for acquiring qualifying holdings in undertakings outside the financial sector. Although the BWG amendments strengthened the duties and responsibilities of credit institutions' supervisory boards, operationally the role may be made more robust by increasing interaction between the supervisory board and banking supervisors. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2020/067 Full text available on IMF http://elibrary.imf.org/view/journals/002/2020/067/002.2020.issue-067-en.xml IMF e-Library