Austria: Financial Sector Assessment Program Update Technical Note: Factual Update and Analysis of the IAIS Insurance Core Principles

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Volume/Issue: Volume 2008 Issue 207
Publication date: July 2008
ISBN: 9781451802467
$20.00
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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Finance , Public Finance , Business and Financial , ISCR , CR , company , FMA insurance supervisor , asset , banking group , FMA staff , supervision , reinsurance company , FMA detail , balance sheet , company's policy , FMA's supervision , Insurance companies , Insurance , Pension spending , Insurance Core Principles , Insurance supervision , Southern Europe

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Summary

This technical note highlights Austria’s analysis of the International Association of Insurance Supervisors Insurance Core Principles. The Austrian economy generally performed well over the past several years, with growth above the euro-area average, falling unemployment, and low inflation. The Financial Market Authority (FMA) should investigate the use of market-based soundness indicators. Following the recent reorganization of bank supervision responsibilities, the FMA insurance supervisors will need to work even closer with the Oesterreichische Nationalbank (OeNB) in supervising financial groups.

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