International relations

The Oesterreichische Nationalbank (OeNB) actively participates in international organizations. This enables the OeNB to contribute its positions and ideas, to take part in decision making, and to monitor economic and monetary developments at the international level to obtain first-hand relevant information. The OeNB uses this information to draw up briefing papers and expert opinions for its monetary policy-related contributions both at the Eurosystem and at the national level.

The main international bodies in which the OeNB participates are

Committees of the European Union (EU)

    • Economic and Financial Committee – mainly concerned with the preparation of decisions made at Council meetings;
    • Economic Policy Committee – with a focus on structural policies;
    • European Banking Committee – supports the European Commission in banking issues;
    • Committee on Monetary, Financial and Balance of Payments Statistics –  advises Eurostat in particular on government debt and deficit issues;
    • European Systemic Risk Board (ESRB) – established in December 2010 to improve financial system oversight, thereby helping to avoid financial crises.

International Monetary Fund (IMF)

  • The main objective of the IMF's work is to safeguard the stability of the international financial and monetary system. The OeNB represents the Republic of Austria in the IMF and also manages Austria's share in the IMF's SDR reserve system. From end-2012 to 2014, Austria is also the representative of the Central and Eastern European Constituency in the Executive Board of the IMF.

Specialized Committees of the Organisation for Economic Co-operation and Development (OECD)

    • Economic Policy Committee
    • Working Party on Short-Term Economic Prospects
    • Economic Development and Review Committee
    • Working Party on Financial Statistics
    • Financial Action Task Force on Money Laundering

Bank for International Settlements (BIS)

  • The governor of the OeNB takes part in the meetings of central bank governors at the BIS. These meetings are a forum for the exchange of information and views on monetary, exchange rate, and financial policy issues. OeNB representatives also contribute to BIS meetings and working groups, including regular economists' or statisticians' meetings.