BaFin granted permission to WestLB Hungaria Bank Zrt to use the Advanced Measurement Approach (AMA) in the calculation of its regulatory capital charge for operational risk

Referring to the application of WestLB AG (leader of WestLB Group) Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), as the competent home authority, has granted permission to WestLB Hungaria Bank Zrt to use the Advanced Measurement Approach (AMA) in the calculation of its regulatory capital charge for operational risk as of 1 January, 2008.

According to Paragraph (6) of Section 14/B of the Act CXii of 1996 on Credit institutions and Financial Enterprises the above mentioned permission of BaFin is binding in its entirety and directly applicable in Hungary.

17 June 2008

Vissza a tetejére

The primary objective of the MNB shall be to achieve and maintain price stability. (...) Without prejudice to its primary objective, the MNB shall support the maintenance of the stability of the system of financial intermediation, the enhancement of its resilience, its sustainable contribution to economic growth; furthermore, the MNB shall support the government’s economic policy and its policy related to environmental sustainability, using instruments at its disposal.