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FMA Prohibits Speculative Elements in Savings Accounts

Published: January 5, 2011; 18:23 · (Vindobona)

The Austrian Financial Market Authority FMA specifies the characteristics of savings certificates. The traditional savings account is to remain non-speculative

FMA Prohibits Speculative Elements in Savings Accounts / Picture: © Vindobona.org

In this circular, the authority indicates that savings accounts are subject to legal restrictions due to the requirements relative to their security and the need for their protection. Therefore, the interest rate on a savings account must be calculable at all times, for which reason components similar to bets, or interest payment dependent on future developments of, for example, stock…

This article includes a total of 259 words.

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