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