BUSINESS

BNR official at Vienna Bank Summit to discuss credit risk proposals

Banking regulators from 17 countries were due to meet yesterday to discuss Austrian proposals to limit eastern European credit risk for the Alpine republic’s banks, according to three people with knowledge of the agenda, said Bloomberg, quoted by Mediafax. The meeting in Vienna brings together senior officials of the Austrian central bank and the FMA- Financial Market Authority – regulator, the European Banking Authority and from countries including Hungary, Romania and the Czech Republic, said the people, who declined to be identified because the agenda isn’t public. The Austrian Financial Market Authority supervises banks, pension companies, investment funds and other investment providers. The Vienna talks aimed at the implications of new requirements for European banks to increase capital and possible negative effects on emerging countries, said Adrian Vasilescu, National Bank governor adviser. The officials will discuss capital and liquidity rules drawn up by Austria’s central bank and the FMA, which require Erste Group Bank AG, Raiffeisen Bank International AG and UniCredit SpA’s Bank Austria unit to underpin their lending in eastern Europe with local deposits rather than parent funding, according to the outline presented Nov. 21.

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