Basel II
The Austrian Financial Market Authority (FMA) granted Österreichische Volksbanken-AG official IRB approval at the end of March 2008. Österreichische Volksbanken-AG has been applying the more sophisticated Basel II approach to determining equity accordingly.
In order to meet the legislated supervisory requirements associated with Basel II, a modern risk management system landscape has been constructed. The hub of this system is a central data pool, which combines credit risk-related data from across the entire group.
The foreign subsidiaries will be included in the IRB approach in stages: the F-IRB will be implemented in Slovakia, Hungary and Romania by 2011, in Croatia, the Czech Republic and Slovenia in 2012, followed by Bosnia, Serbia, Ukraine and the foreign leasing companies in 2013.
In order to meet the legislated supervisory requirements associated with Basel II, a modern risk management system landscape has been constructed. The hub of this system is a central data pool, which combines credit risk-related data from across the entire group.
The foreign subsidiaries will be included in the IRB approach in stages: the F-IRB will be implemented in Slovakia, Hungary and Romania by 2011, in Croatia, the Czech Republic and Slovenia in 2012, followed by Bosnia, Serbia, Ukraine and the foreign leasing companies in 2013.
