1. 15th International Banking Congress St
15th International Banking Congress St. Petersburg, Russia Implementation of the New Capital Requirements Framework (Austria) June 7-10, 2006

2. Implementation Process in Austria
Consultation Process with
Austrian Chamber of Commerce (industry)
Internationally active banks
Cooperation Process
Banking Supervisors
Multilateral and bilateral Meeting (CEE)
National Implementation
Legal Implementation

3. Consultation Process
Chamber of Commerce – regular information exchange
to inform the representatives of all credit institutions on the latest developments on Basel II (international and national)
to respond on Frequently Asked Questions (FAQ) - Website
International active IRB banks – pre-consultation process
Planning reliability for the credit institution
Feedback to the credit institution at a most early stage in order to enable the institution to make necessary modifications on time
Reduction of the workload for FMA and Central Bank; results of the pre-consultation may be used within the approval process

4. Cooperation Process Mutual trust (goals)
need to find an effective way of work-sharing within the approval process
to trust in the findings of each other
to exchange all relevant information needed by each other
Presentations include
main findings of pre-consultation of banks
presentations by each (host) supervisory authority
special topics (national discretions, model approval process, technical details)
Joint decision on IRB approval

5. Austrian participation in the CEE Banking system by total assets (per year-end 2005)
12,6%
31,3%
23,2%
45,9%
14,8%
42,6%
13,3%
25,4%
15,7%
>30%

6. National Implementation
Formal adoption of EU directives 2000/12/EC and 93/6/EEC is expected by mid June 2006
Transposition into national law by December 31, 2006 at the latest
Amendment of Austrian Banking Act (BWG) & technical details in two FMA regulations (solvency, disclosure requirements)
Close co-operation between FMA, OeNB and MoF
First draft of legal texts was published on March 10, 2006 for public consultation (closes on April 28, 2006)
Parlamentary process starts after final publication of the directives (expected for July 2006)

7. THANK YOU FOR YOUR ATTENTION