FMA granted permission to ERSTE Bank Hungary Nyrt. to calculate capital requirement of credit risk with using Internal Ratings Based (IRB)

Referring to the application of the Erste Bank AG. Vienna (leader of ERSTE Group) the Austrian Financial Market Authority (FMA) as the competent home authority has by its resolution (FMA-Ki28 1501/0041-SYS/2008) granted permission to ERSTE Bank Hungary Nyrt. to calculate capital requirement of credit risk with using internal Ratings Based (iRB) approach as of 1April, 2008.

According to Paragraph (6) of Section 14/B of the Act CXii of 1996 on Credit institutions and Financial Enterprises the above resolution of the FMA shall be binding in its entirety and directly applicable in Hungary.

28 April 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.