On Sep. 30, AUT FMA consulted on draft reg amending CRR-BV 2021.
AUT FMA consulted on draft reg about CRR accompanying reg 2021 (CRR-BV 2021).
Follows AUT FMA Nov. 2023 published Ordinance amending CRR-BV 2021, #184905.
Main Points
Re the general part, the advance approval for the repayment of terminated cooperative shares provided for in section 2 CRR-BV 2021 will be extended by a further year.
In accordance with AUT FMA administrative practice; reference adjustments are made.
Re the special part, there is adjustment of annual figures to update prior approval for the repayment of credit cooperatives' terminated shares' capital balances for 2025.
Effectiveness
Comments can be submitted via email until Oct. 28, 2024.
Nov. 2024 Legislation Published
On Nov. 20, 2024, AUT FMA published the Regulation of the Financial Market Authority (FMA) amending the CRR Accompanying Regulation 2021, related to dates of financial statements as well as shares in credit, CRR credit and financial institutions under CRR.
It also specified, where there is advance approval, calculation basis for Common Equity Tier 1 capital eligible before repayment, based on a sum not exceeding 1% of the total.
The legislation has been approved following a previous AUT FMA consultation process, and it is made under the terms of Section 21b Paragraph 1 of the Banking Act (BWG).
Changes made to the CRR-BV 2021 by the legislation all take effect from Jan. 1, 2025.
