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 granted permission to ERSTE Bank Hungary Nyrt. to calculate capital requirement for operational risk with using the Advanced Measurement Approach (AMA) as of 1 July, 2009.
According to paragraph (6) of Section 14/B of the Act CXII of 1996 on Credit Institutions and Financial Enterprises the above mentioned resolution of the FMA is binding in its entirety and directly applicable in Hungary.
27 October 2009