International cooperation

International cooperation is a core part of the OeNB’s work. By participating in numerous international organisations, the OeNB contributes its expertise, helps shape discussions and gains valuable insights into economic and monetary developments in other countries and regions. These insights inform the analyses, policy papers and expert assessments prepared by the OeNB, both for its work within the Eurosystem and for monetary and economic policy discussions in Austria.

Benefits of international cooperation

International cooperation makes it easier to understand economic developments and identify risks at an early stage. This means that decisions affecting money and the economy are not taken in isolation but are informed by international experience and coordination. And this, in turn, contributes to stability, including in Austria.

European System of Central Banks (ESCB) 

The OeNB contributes directly to decisions concerning the euro as its governor is a member of the ECB Governing Council. OeNB experts also participate in committees, working groups and research projects of the ECB, the Eurosystem and the ESCB, helping to advance our shared objectives.

Central, Eastern and Southeastern Europe (CESEE)

The OeNB also cooperates closely with central banks, institutions and research organisations across CESEE. Key partners include the Bank of Finland Institute for Emerging Economies and the Joint Vienna Institute and numerous central banks across the region.

EU committees

• Economic and Financial Committee: prepares decisions of the EU’s Economic and Financial Affairs Council
• Economic Policy Committee: focuses primarily on structural policy issues
• European Banking Committee: advises the European Commission on banking-related matters
• Committee on Monetary, Financial and Balance of Payments Statistics: advises the Statistical Office of the EU (Eurostat), particularly on matters relating to government deficits and debt ratios
• European Systemic Risk Board: contributes to the prevention of future financial crises through the monitoring of systemic risks

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 holds Austria’s IMF quota on behalf of the Republic of Austria and represents Austria on the Board of Governors of the IMF.

Organisation for Economic Co-operation and Development (OECD)

The OeNB participates in various OECD committees and working groups, including: 

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

Bank for International Settlements (BIS)

The Governor of the OeNB participates in BIS Governors’ Meetings, which serve as an important forum for the exchange of views and information on monetary policy and financial market-related topics. OeNB experts also contribute to BIS conferences and seminars, including regular meetings of economists and expert groups in fields such as statistics.