The European Central Bank (ECB) has decided to withdraw the licence to provide banking business held by Commerzialbank Mattersburg im Burgenland Aktiengesellschaft (CMB). This decision is effective from 28 November 2020, although it is not yet legally final, since the possibility exists to appeal against the decision.
CMB was classified as a less significant credit institution within the Single Supervisory Mechanism (SSM), the banking supervision authority for all members of the Euro area, and therefore was subject to direct ongoing supervision by the Austrian Financial Market Authority (FMA). The ECB is however competent for withdrawal of licences for all credit institutions in the Euro area, including the licences of less significant credit institutions.
General information about the legal basis for the granting, surrendering or withdrawal of a licence can be found on the FMA Website.