Regulatory Alerts2026-04-16
Savings Bank Act (SpG; Sparkassengesetz)
The Austrian Federal Act of 24 January 1979 regulates the savings bank sector by defining legal entities, including municipal and association-based savings banks, and their governance structures. It establishes the liability framework for municipalities regarding bank liabilities, distinguishing between obligations accrued before and after specific dates in 2003 and 2007. The legislation mandates the formation of savings bank associations, outlines the powers of their general assemblies, and defines the roles of the management board and the Sparkassenrat under the supervision of the Financial Market Authority.
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