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The OeNB — An Innovative,<br />
Dynamic and Cost-Efficient Enterprise<br />
Balance of<br />
payments — the new<br />
reporting system for<br />
AustriaÕs external<br />
trade statistics<br />
Operational<br />
risk management at<br />
the OeNB<br />
2003 Intellectual<br />
Capital <strong>Report</strong> — the<br />
prototype for a new<br />
annual publication<br />
Progress with<br />
IT-related preparations<br />
for Basel II<br />
model for future cooperation and the<br />
division of responsibilities in IT-related<br />
matters.<br />
In <strong>2004</strong> the OeNBÕs IT-related activities<br />
centered around the implementation<br />
of the new reporting system<br />
for the balance of payments statistics.<br />
By the end of the reporting<br />
year, the systemÕs key components<br />
had been completed and tested. Another<br />
central activity was the organization<br />
of an information campaign<br />
targeted at reporting agents in the financial<br />
sector. The campaign comprised<br />
a road show, which toured all<br />
of AustriaÕs provinces, and several special<br />
lectures organized together with<br />
various interest groups. In December<br />
<strong>2004</strong> the Balance-of-Payments <strong>Report</strong>ing<br />
Regulation ZABIL 1/<strong>2004</strong><br />
of the Oesterreichische Nationalbank<br />
2 was published. It provides a detailed<br />
description of reporting requirements<br />
in the financial sector.<br />
The TOPAS/TOPIT project, designed<br />
to transform the OeNB into<br />
a partner for risk analysis and the<br />
supervision of financial stability, was<br />
successfully completed on schedule<br />
in late <strong>2004</strong>. In the course of this<br />
project, which had been launched in<br />
January 2002, the OeNBÕs analyses<br />
of the banking sector and of individual<br />
banks were generally overhauled;<br />
moreover, the applied methods and<br />
technical aspects were updated. As<br />
an important step, primary data management<br />
was reformed to incorporate<br />
state-of-the-art features. Measured<br />
against other central banksÕ<br />
and supervisory authoritiesÕ results,<br />
the OeNBÕs new models of banking<br />
analysis have proved very successful<br />
by international standards. The IT-related<br />
preparations for the New Basel<br />
2 See www.oenb.at under the ÒStatistics and <strong>Report</strong>ingÓ heading.<br />
Capital Accord (Basel II) consisted of<br />
the expansion of the processing systems<br />
for banking statistics, the Major<br />
Loans Register and the existing banking<br />
analysis tools.<br />
The introduction of operational<br />
risk management at the OeNB<br />
(ORION) and the ensuing close cooperation<br />
between the responsible<br />
OeNB divisions reduced potential<br />
risks by improving contingency management<br />
at the interfaces between<br />
the various divisions. Furthermore,<br />
the OeNB for the first time conducted<br />
a LAN failure test under live<br />
conditions in <strong>2004</strong>. The annual business<br />
continuity test, which ensures<br />
that the infrastructure needed to conduct<br />
business is available, was also<br />
completed successfully.<br />
By publishing the prototype of<br />
what is to become an annual Intellectual<br />
Capital <strong>Report</strong>, the OeNB has<br />
once more reaffirmed its leading position<br />
in the field of transparent corporate<br />
governance. The report is<br />
ideally suited to communicating informationontheOeNBÕsintellectual<br />
capital and thus promotes the OeNBÕs<br />
policy of actively providing comprehensive<br />
facts to the general public.<br />
In line with the OeNBÕs mission<br />
statement and strategic orientation,<br />
the first Intellectual Capital <strong>Report</strong><br />
defined knowledge goals with respect<br />
to human, structural, relational and<br />
innovation capital. The report outlined<br />
the underlying Intellectual Capital<br />
<strong>Report</strong> model, the OeNBÕs<br />
knowledge goals and ways of measuring<br />
their attainment by defining suitable<br />
indicators. The Intellectual Capital<br />
<strong>Report</strong> is an innovative product<br />
which will serve as a controlling tool<br />
in the future.<br />
72 ×<br />
<strong>Annual</strong> <strong>Report</strong> <strong>2004</strong>