Sponsored Content
FMA Prohibits Speculative Elements in Savings Accounts
Politics ♦
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…
or Log In
Fast News Search