Basel II is regarded a necessary instrument to meet the fundamental changes in the banking industry, which includes the emergence of new financial products and advances in risk management practices. Basel II aims to enhance the stability of the financial system via more risk-sensitive capital requirements. Austrian banks are considered to be well informed of, and prepared for, the changes induced by Basel II.
The Oesterreichische Nationalbank is closely involved in the Basel II process and currently conducts a road show on this topic to improve the level of know-how especially among small and medium-sized enterprises (SMEs) in Austria.