Regulatory Alerts2023-02-16
Added · Updated
Austrian Building Society Act (Bausparkassengesetz - BSpG)
The Austrian Federal Act on the Supervision and Operation of Building Societies establishes the legal framework for credit institutions authorized to conduct building savings and loan business. It mandates strict operational requirements, including the maintenance of specific business plans, general conditions, and the segregation of funds into allocation reserves to ensure liquidity and security. The legislation further regulates licensing procedures, loan collateralization limits, and risk management measures to protect customer interests and maintain financial stability.