Referring to the application of the Raiffeisen Zentralbank Österreich AG. (RZB), the Austrian Financial Market Authority (FMA) as the competent home authority has granted permission to the Raiffeisen Bank Zrt. by its resolution FMA-KI29 0100/0115-SYS/2008 as of December 30, 2008 to calculate capital requirement of credit risk with FIRB approach regarding the non-retail exposure class from December 1, 2008. The FMA has approved a material change to the approved IRB approach with its resolution FMA-KI29 0100/0090-SYS/2010 as of July 19, 2010 and granted permission to the Raiffeisen Bank Zrt. to calculate the capital requirement with AIRB approach in the retail exposure class from July 1, 2010.
According to Paragraph (6) of Section 14/B of the Act CXII of 1996 on Credit institutions and Financial Enterprises the above resolutions of the FMA shall be binding in its entirety and directly applicable in Hungary.
4 August 2010