Austria: Banking Regulation and License Requirements

The Austrian Financial Market Authority (FMA) is responsible for licensing and supervising credit institutions operating in Austria. To obtain a license, applicants must submit an application, provide required documentation, and undergo a thorough review by the FMA.

Last Three Annual Financial Statements

Transactions Conducted by the Foreign Undertaking

The foreign undertaking has conducted the following transactions in Austria:

[List specific transactions, including location]
The undertaking also has branches in other EU member states and conducts business with customers in those countries.

Initial Capital Dedication

The initial capital dedicated to the Austrian branch is EUR [insert amount], which is freely available to the directors without limitations or charges in Austria.

Decision-Making Powers

The management of the branch has been granted the following decision-making powers:

[List specific powers]

The head office requires consent for the following internal decisions:

[List specific decisions]

Forms of Banks Operating in Austria

Austria recognizes two types of banks: credit institutions and financial institutions. Credit institutions encompass CRR credit institutions and non-CRR credit institutions, while financial institutions include electronic money institutions and payment institutions not qualifying as CRR financial institutions.

Regulatory Regime

The Banking Act does not distinguish between categories of banks such as universal, commercial, retail, investment, private or other banks. However, both Austrian and EU law define the following types of institutions in specific regulatory contexts:

Credit institutions of significant relevance whose total assets must reach or exceed EUR 5 billion
Credit institutions whose total assets exceed EUR 1 billion or which have issued transferable securities that are admitted to listing on a regulated market
Systemically important institutions (SIs and LSIs) and globally systemically important institutions (G-SIIs)
Top-tier banks having a balance sheet total larger than EUR 100 billion and belonging to a resolution plan

The FMA is responsible for licensing and supervising credit institutions operating in Austria, and the licensing process involves submitting an application, providing required documentation, and undergoing a thorough review by the FMA.