Banking supervisors are more proactive in interpreting their role

The Financial Market Authority (FMA) draws a summary of its activities – and is satisfied with itself. Others notice that lately people are more proactive than they used to be. She has her reasons for that.

The Financial Market Authority (FMA) has been monitoring Austria as a financial center for 20 years. So there is a lot to tell. “Since 2002 there have been many upheavals, upheavals and slumps,” says Helmut Ettl, who has been a member of the FMA’s board of directors for many years, when presenting the FMA’s annual balance sheet. “We got the Austrian financial market out of the sleazy image it had at the time.”

But you don’t have to look that far into the past to understand the crucial role played by the FMA in Austria. In the past two years alone, the authority has been as active in the banking sector as it has been in the past two decades combined. First involuntarily – at Commerzialbank Mattersburg – and then much more proactively than many market participants would like.

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