Wolf Theiss

AUSTRIAN ACT ON THE RECOVERY AND RESOLUTION OF BANKS ENTERED INTO FORCE

On 1 January 2015, the Austrian Act on the Recovery and Resolution of Banks entered into force. The BaSAG (Bundesgesetz über die Sanierung und Abwicklung von Banken - BaSAG) transposes the Bank Recovery and Resolution Directive (BRRD) into national law which provides relevant resolution authorities with common tools and powers to address banking crises pre-emptively to ensure financial stability.

For further information please contact

Claus
Schneider
Partner
Austria
Christine
Siegl
Consultant
Austria

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