Regulatory Alerts2023-01-17
Annex to the FMA Regulation on Deposit Guarantee Scheme Stress Tests
The Austrian Financial Market Authority (FMA) mandates a standardized reporting annex for Deposit Guarantee Schemes to submit detailed stress test results and operational readiness assessments. The template requires comprehensive disclosure of core test execution across repayment, cross-border cooperation, failure prevention, and insolvency scenarios, alongside quantitative and qualitative evaluations of Single-Customer-View file accuracy and IT infrastructure security. Additionally, it compels schemes to document resilience improvements over time, identify capability gaps, and report on staffing adequacy, communication protocols, and data transmission timelines to ensure compliance with EU deposit guarantee directives.
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