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Austrian Financial Markets Authority Approves Foreign Bank Branch Establishment

Approval Subject to Conditions and Requirements

The Austrian Financial Markets Authority (FMA) has approved the establishment of a branch of a foreign bank in Austria. The approval is subject to certain conditions and requirements.

Application Review

The foreign bank, headquartered in [insert country], applied for a licence to operate a branch in Austria. The FMA conducted an extensive review of the application, including examining the bank’s financial statements, transaction history, and organisational structure.

Financial Statements

Last Three Annual Financial Statements

Transactions and Locations

Conducted Transactions in Austria

[Insert transactions, e.g., loans, deposits, investments]

Conducted at the Following Locations

[Insert locations, e.g., Vienna, Salzburg]

Initial Capital and Decision-Making Powers

Initial Capital

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 decision-making powers over [insert specific areas of authority]. The head office’s consent is required for certain internal decisions, including [insert specific decisions].

Written Declaration from Supervisory Authority

The supervisory authority responsible for the undertaking’s head office has issued a written declaration stating that it has no objections to the establishment of a branch in Austria.

Licence Approval

Conditions

The foreign bank must maintain a minimum capital adequacy ratio of 8%
The branch must comply with Austrian banking laws and regulations
The foreign bank must provide regular updates on its financial situation and activities

The approval is valid for [insert duration] from the date of issue.

Contact Information

For further information, please contact:

[Name] Austrian Financial Markets Authority (FMA) Email address [Phone number](+43 1 515 60)

Attachments

Last three annual financial statements
List of transactions and locations
Written declaration from supervisory authority