KMG: Prospectus exemptions for bank securities expanded — new €50 m/€75 m threshold and continuous-issuance rule
The Austrian Capital Market Act (KMG – Kapitalmarktgesetz) is amended to add two new rules relaxing the prospectus-exemption conditions for bank-issued securities: a threshold (below €50 million or €75 million over 12 months, depending on the applicable law version) that removes deposit-related conditions, and an explicit exemption for securities issued as continuous/permanent issuances (Daueremissionen). Credit institutions and their advisors are primarily affected.