Regulatory Alerts2026-03-11
Austrian Banking Act (BWG)
The Austrian Federal Act on the Banking Industry (BWG) establishes the comprehensive legal framework for the licensing, supervision, and operational conduct of credit and financial institutions in Austria. It defines banking transactions, mandates capital conservation buffers and macro-prudential tools, and enforces strict consumer protection, banking secrecy, and anti-money laundering obligations. The legislation also outlines the supervisory powers of the Financial Market Authority (FMA), procedures for insolvency, and the integration of European Union regulatory standards into national law.
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