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Financial Market Authority (Austria)
Austrian Financial Market Authority (FMA) (german: Österreichische Finanzmarktaufsichtsbehörde) is the integrated financial regulatory authority for the Austrian financial industry. It is responsible for the supervision of credit institutions, payment institutions, insurance companies, pension funds, Fund managers, licensed securities service providers, rating agencies and stock exchanges. The FMA is an independent authority within the framework of the Financial Market Authority Act (FMABG) which means that it is not bound by any political directives in the exercise of its office. However, the Ministry of Finance (Austria) has the right to consent to individual FMA regulations. In addition, with Austria being a member of the European Union, the FMA works closely with European supervisory authorities including the European Banking Authority (EBA), European Insurance and Occupational Pensions Authority (EIOPA) and European Securities and Markets Authority (ESMA). History T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Austria
Austria, , bar, Östareich officially the Republic of Austria, is a country in the southern part of Central Europe, lying in the Eastern Alps. It is a federation of nine states, one of which is the capital, Vienna, the most populous city and state. A landlocked country, Austria is bordered by Germany to the northwest, the Czech Republic to the north, Slovakia to the northeast, Hungary to the east, Slovenia and Italy to the south, and Switzerland and Liechtenstein to the west. The country occupies an area of and has a population of 9 million. Austria emerged from the remnants of the Eastern and Hungarian March at the end of the first millennium. Originally a margraviate of Bavaria, it developed into a duchy of the Holy Roman Empire in 1156 and was later made an archduchy in 1453. In the 16th century, Vienna began serving as the empire's administrative capital and Austria thus became the heartland of the Habsburg monarchy. After the dissolution of the H ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oesterreichische Nationalbank
The Oesterreichische Nationalbank (OeNB) is the central bank of Austria and, as such, an integral part of both the European System of Central Banks (ESCB) and the Eurozone. It started operations on , replacing the Austro-Hungarian Bank of which it adopted the original name at its creation in 1816 (german: privilegirte oesterreichische National-Bank). In the public interest, the Oesterreichische Nationalbank contributes to monetary and economic policy decision-making in Austria and in the Euro area. In line with the Federal Act on the Oesterreichische Nationalbank, the OeNB is a stock corporation. Given its status as a central bank, it is, however, governed by a number of special provisions, as laid down in the Nationalbank Act. The OeNB's capital totals €12 million and is held by a sole shareholder, the federal government. The shareholder rights of the federal government are exercised by the Minister of Finance. Since May 2010, this capital is entirely held by the Austria ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking In Austria
This article is intended to give an overview of banking in Austria. Banking system Regulations Since the introduction of the Kreditwesensgesetz (KWG) in 1979, the boundaries between the various types of credit institutions have gradually become blurred. Many banks have developed into universal banks offering a comprehensive range of banking services. Prior to the 1979 KWG, the Austrian banking system was still governed by the Kreditwesengesetz, which had been in force since October 1, 1938 in Nazi Germany and the associated Austria. The 1979 KWG was created as a result of the increasing liberalization of the banking system and the general trend towards universal banks. The rapid growth and increased activity of Austrian banks abroad made it necessary to adapt to international standards, which was regulated in the 1986 amendment to the law. On January 1, 1994, the KWG was replaced by the new Banking Act (Bankwesensgesetz- BWG), which was drafted in view of EU conformity and also c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regulatory Authority
A regulatory agency (regulatory body, regulator) or independent agency (independent regulatory agency) is a government authority that is responsible for exercising autonomous dominion over some area of human activity in a licensing and regulating capacity. These are customarily set up to strengthen safety and standards, and/or to protect consumers in markets where there is a lack of effective competition. Examples of regulatory agencies that enforce standards include the Food and Drug Administration in the United States and the Medicines and Healthcare products Regulatory Agency in the United Kingdom; and, in the case of economic regulation, the Office of Gas and Electricity Markets and the Telecom Regulatory Authority in India. Legislative basis Regulatory agencies are generally a part of the executive branch of the government and have statutory authority to perform their functions with oversight from the legislative branch. Their actions are often open to legal review. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Salzburger Nachrichten
The ''Salzburger Nachrichten'' is a German language daily newspaper published in Salzburg, Austria. It has been in circulation since 1945. History and profile ''Salzburger Nachrichten'' was established in 1945 by the American forces occupying Austria following World War II. The first issue appeared on 25 October that year. It remained under the control of the US Information Services Branch for a long time. When the paper became under the Austrian supervision, its early contributors were Viktor Reimann, Ilse Leitenberger and Alfons Dalma who were affiliated with the anti-Fascist groups during World War II. In the post-war period ''Salzburger Nachrichten'' focused on provincial events and news and did not exclusively cover significant events of the period such as the trials of the Nazi figures in Nuremberg. ''Salzburger Nachrichten'' is owned by a family company, Salzburger Nachrichten Verlag. Its publisher is Maximilian Dasch Jr, and its headquarters is in Salzburg which was des ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Council Of Ministers (Austria)
The Government of Austria (german: Bundesregierung der Republik Österreich) is the executive cabinet of the Republic of Austria. It consists of the chancellor, who is the head of government, the vice chancellor and the ministers. Appointment Since the 1929 reform of the Austrian Constitution, all members of the Federal Government are appointed by the Austrian Federal President. As the Federal Government must maintain the confidence of parliament, the President must generally abide by the will of that body in his or her appointments. In practice, the leader of the strongest political party, who ran as a "chancellor candidate" in a parliamentary election, is usually asked to become Federal Chancellor, though there have been some exceptions. Ministers are proposed for nomination by the Chancellor, though the President is permitted to withhold his or her approval. Likewise, the President may dismiss the Chancellor and/or the whole government at any time. If this occurs, a new g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Die Presse
''Die Presse'' is a German-language daily broadsheet newspaper based in Vienna, Austria. It is considered a newspaper of record for Austria. History and profile ''Die Presse'' was first printed on 3 July 1848 as a liberal (libertarian)-bourgeois newspaper within the meaning of the revolutions of 1848 by the entrepreneur August Zang. Its staff split in 1864 under the leadership of Max Friedländer, Michael Etienne and Adolf Werthner to form the ''Neue Freie Presse'', which later was aryanized by the Nazis in 1938 and effectively closed in 1939. In 1946, after the Second World War, resistance fighter Ernst Molden, who had been vice-editor-in-chief of the ''Neue Freie Presse'' from 1921 until 1939, reestablished the newspaper as ''Die Presse''. The ''"Presse"'' had been struggling for financial survival for a long time, until during the 1960s, the Austrian Chamber of Commerce became the main shareholder. Since 1999 it has been owned by the Styria Medien AG, a conservative-libe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kurier
''Kurier'' is a German-language daily newspaper based in Vienna, Austria. History and profile ''Kurier'' was founded as ''Wiener Kurier'' by the United States Forces in Austria (USFA) in 1945, during the Allied occupation after World War II. In 1954 the paper was acquired and re-established by Ludwig Polsterer as ''Neuer Kurier'' (New Kurier). Funke Mediengruppe holds 49% of the paper. The company also partly owns ''Kronen Zeitung''. The publisher of ''Kurier'' is Kurier-Zeitungsverlag und Druckerei GmbH. ''Kurier'' is based in Vienna en, Viennese , iso_code = AT-9 , registration_plate = W , postal_code_type = Postal code , postal_code = , timezone = CET , utc_offset = +1 , timezone_DST .... Circulation ''Kurier'' was the eighteenth largest newspaper worldwide with a circulation of 443,000 copies in the late 1980s. It was the third best-selling Austrian newspaper in 1993 with a circ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minister Of Finance (Austria)
The Ministry of Finance (german: Bundesministerium für Finanzen) is the government ministry of Austria responsible for the collection of taxes and customs as well as the administration of fiscal and economic policy. It oversees the Revenue Service, the Revenue Service for Large Businesses, the Financial Police, and various other agencies. It is headquartered in the Winter Palace of Prince Eugene, Vienna. The current Minister is Magnus Brunner. Structure and function The Ministry is responsible for revenue administration at the federal level, including the government budget, matters of finance concerning the European Union, taxes, duties and tariffs. It defines and conducts the country's budgetary policy concerning currency, credit, savings banks ( Sparkassen) and exchange matters, capital movements and settlement, insurance control and hallmarks. It is also concerned with economic policy, if not discharged by the Ministry of Economy. The Finance Minister and the General Secreta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Helmut Ettl
Helmut Ettl (born August 23, 1965 in Linz) is an Austrian economist and European banking and finance specialist. Early life Helmut Ettl grew up in Linz and was very active in his youth in the Socialist Youth Austria and in the student movement. Ettl was the school and state school spokesman and co-founder of the Linz cultural center Kapu (a center for independent music and punk music). He completed his studies in economics at the Johannes Kepler University in Linz. Career In 1995 he joined the Oesterreichische Nationalbank in the “Department for the Analysis of Economic Developments Abroad” with a focus on analyzing the economic development of Western Europe. In 2000 he was appointed assistant director and the following year he was appointed deputy head of the banking analysis and auditing department. After stays at the International Monetary Fund in Washington and the EU Commission in Brussels, he graduated from the London School of Economics. In 2003 he was appointed head o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Committee Of European Securities Regulators
The Committee of European Securities Regulators (CESR) was an independent committee of European Securities regulators in the Lamfalussy process established by the European Commission on June 6, 2001. The role of this committee was to * Improve the coordination among securities regulators * Act as an advisory group to assist European Commission * Work on implementation of community legislation in EU member states The other Level-3 committees in the Lamfalussy process were the Committee of European Banking Supervisors (CEBS) and the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS). On 1 January 2011, the CESR was replaced by the European Securities and Markets Authority (ESMA), which is part of the European System of Financial Supervision. See also *European Commission * Securities Commission *European Commissioner for Internal Market and Services *Financial regulation Financial regulation is a form of regulation or supervision, which subjects ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Organization Of Securities Commissions
The International Organization of Securities Commissions (IOSCO) is an association of organizations that regulate the world's securities and futures markets. Members are typically primary securities and/or futures regulators in a national jurisdiction or the main financial regulator from each country. Its mandate is to: * Develop, implement, and promote high standards of regulation to enhance investor protection and reduce systemic risk * Share information with exchanges and assist them with technical and operational issues * Establish standards toward monitoring global investment transactions across borders and markets IOSCO has members from over 100 countries, who regulate more than 95% of the world's securities markets. It has a permanent secretariat in Madrid, Spain. History IOSCO was born in 1983 from the transformation of its ancestor the "Inter-American Regional Association" (created in 1974) into a truly global cooperative. This decision to expand the organization beyond t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
