First of all, CEE is not CEE. The umbrella-term CEE covers countries as diverse – economically and politically – as the Czech Republic and Poland on the one hand and Kazakhstan and Ukraine on the other. Second, the challenges of regulators of banks with subsidiaries in CEE do not, broadly speaking, differ from the challenges of other regulators of international banks active in emerging markets. Looking at the challenges from this angle, they are indeed time-consistent: the OeNB, just like any other home supervisor, has to make sure that banks are able to bear those risks, for example through adequate capital positions or stable funding sources, both at group level and at subsidiary level.
In principle, we adhere to the European legal framework.
