Regulatory Alerts2023-07-24
Regulation of the Austrian Financial Market Authority supplementing the Building Society Act
The Austrian Financial Market Authority issued this regulation to supplement the Building Society Act by establishing specific operational limits and definitions for building societies. It caps individual building savings loans at EUR 260,000 while defining large-scale contracts and projects with distinct exclusions and transfer conditions. The text further regulates uncollateralized loans, the allocation and deployment of the Building Society Protection Fund, and lending limits to associated undertakings.
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