Annual Report 2004

The OeNBÕs Information Policy —
Conveying Stability and Security
Basel II information
campaign
Redesign of the OeNBÕs Macroeconomic and Statistical Products
Box 7
In recent years, the OeNB has redesigned a number of its print publications and has developed
several new information products to improve customer orientation. In the course of this process,
the OeNB revised its Annual Report several years ago and published the first issue of its
Financial Stability Report in 2001. The reporting year, however, saw the greatest number of
changes, all of which were preceded by well-targeted customer surveys.
— In May 2004 the OeNB published its first issue of Monetary Policy & the Economy
(German version: Geldpolitik & Wirtschaft), a quarterly review of economic policy which
replaced Focus on Austria (German version: Berichte und Studien). The individual studies
published in Monetary Policy & the Economy are refereed by external experts and
released by an editorial board. The Q2/05 issue, which is scheduled for late June 2005, will
have a special focus: 10 years of Austrian EU membership. This special topic will be dealt
with from various economic perspectives.
— In mid-2004 the new series Workshops — Proceedings of OeNB Workshops replaced
the special focus issues of Focus on Austria. The new series is published exclusively in
English. To date, four issues have been published on monetary and economic policy topics.
— In October 2004, the first issue of Focus on European Economic Integration was published.
This new publication replaces Focus on Transition, which had up to then provided
analyses of Central and Eastern European countries (CEECs). Focus on European Economic
Integration is published twice a year and is available exclusively in English.
— In September 2004 the quarterly statistical publication Statistiken — Daten & Analysen
(available exclusively in German with executive summaries in English) replaced the former
monthly Statistisches Monatsheft. Unlike its predecessor, the new statistical series also
provides short reports and analyses, which focus on Austrian financial institutions, financial
flows and external sector developments. Daily updates of the statistical seriesÕ tables (available
in German and English) can be viewed on the OeNBÕs website under the heading
ÒStatistics and Reporting.Ó Special issues on specific statistical topics complement the information
provided in the statistical series. A survey conducted in early 2005 showed that users
are very satisfied with the new design of the OeNBÕs statistical series, which has been in
place since September 2004.
— The OeNBÕs website (www.oenb.at) offers user-friendly access to all publications listed
above. Under the ÒMedia and PublicationsÓ heading, PDF files containing entire publications
or individual contributions are available free of charge.
An IFES survey on the information
level of SMEs, which was conducted
in October 2004, revealed
that a mere 16% of SMEs have made
preparations for the New Basel CapitalAccord(BaselII)sofar.Forthis
reason, the OeNB decided to organize
a Basel II information campaign.
A five-step immediate action plan
has already been launched: In early
December 2004, the OeNB thoroughly
briefed the Austrian Members
of the European Parliament on
Basel II. In cooperation with the Austrian
Federal Economic Chamber, the
OeNB also organized a nationwide
road show focusing on Basel II-re-
lated issues. During the entire road
show, OeNB experts offered their expertise
to interested SMEs. Thus,
Austrian SMEs had the possibility to
thoroughly familiarize themselves
with Basel II in a personal setting.
As an additional measure, the OeNB
and the Financial Market Authority
(FMA) have published best practice
guidelines to inform Austrian banks
about credit risk-minimizing techniques.
Furthermore, OeNB experts
have compiled a Basel II information
folder, which is mainly distributed
via commercial bank counters. An
electronic newsletter, which continually
provides news on Basel II, com-
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Annual Report 2004