These are the embedding of qualitative “risk management” standards in the capital and liquidity components of the ratings (as opposed to standardized quantitative measures of capital and liquidity adequacy) and the ascetic principle by which a firm’s “well managed” status is determined by its lowest component rating, no matter how good the bank is at everything else.
And last year, for example, OeNB and Bundesbank experts joined together to study whether blockchain technology can aid in the exchange and distribution of information between clearing houses in real time. The extensive IT expertise of our Austrian colleagues was especially valuable to the project.