Regulatory Alerts2023-02-16
Added · Updated
Austrian Federal Act on the Supervision and Operation of Building Societies (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 for housing, education, and care measures. It mandates strict operational requirements, including the maintenance of specific business plans, general conditions, and allocation funds to ensure asset security and liquidity. The legislation further regulates licensing procedures, loan collateralization limits, and risk management strategies under the oversight of the Financial Market Authority (FMA).