On Jul. 23, AUT GVT issued details of amendments to the banking act.
AUT GVT published Amendment to the Banking Act on changes to confidentiality rules.
Amendments Overview
Changes confirmed obligation of confidentiality is valid for an unlimited period of time.
Facts subject to banking secrecy may only be published or be made accessible if they are not subject to secrecy under s6 of the Freedom of Information Act (IFG) (5/2024).
Relates to the effects of CRD and IFD, specifically relating to the confidentiality requirements applicable to the applicable supervisory framework.
Also relates to the publication of the results of the supervisory reviews and descriptions of the measures imposed on credit institutions in the event of breaches of legislation under SR and CRR, unless relevant to IFG requirements.
Also confirmed requirements for grounds of public order, of other essential interests of Republic of Austria and the provisions of Section 38 (1) applicable to public authorities, as well as the duty of confidentiality under tax law (Section 48a BAO) are not violated.
Effectiveness
The changes all apply from publication on Jul. 23, 2025, apart from the changes made to Section 107, by a new paragraph 118, which will come into force on Sep. 1, 2025.
Regulators
AUT GVT
Entity Types
Bank
Reference
OG 37/2025, 7/23/2025; CRD/CRR Dir 2013/36, Reg 575/2013; CRR 2 Reg 2019/876; IFD/IFR Dir 2019/2034, Reg 2019/2033; SR Reg 2017/2402; BWG (AUT); IFG (AUT); SREP
