Draft Amendments to the Law on Banks ready – Establishment of Fund for Restructuring of Banks planned too

The National Bank of Serbia has prepared the Draft Amendments to the Law on Banks, the NBS announced. The aim of the amendments to the law, as added, is to further strengthen the framework for banks’ operations, primarily in the segments of corporate management, the management of the risks that the bank is exposed to, the process of an internal estimate of the capital adequacy and the bank’s liquidity, the publishing of data etc.

– The supervisory function of the National Bank of Serbia is further strengthened with the introduction of the new instrument of “covert control” for the purpose of an additional improvement of the control of the legality of the operations of a bank in the field of protection of the users of financial services, the introduction of a supervisory agreement within the control procedure, as well as the specification of the processes of supervisory estimate – the press release points out.

In addition to that, as noted, the planned amendments further improve the legal framework for the restructuring of banks – with the establishment of the Fund for Restructuring of Banks, which is an innovation that will also have positive effects through a direct securing of funds from the banks’ contributions for the financing of potential bank restructuring procedures, whereby the risks of the potential use of the funds of taxpayers for these purposes would be reduced.

The NBS invites the citizens, experts and all other interested parties to send their suggestions and complaints as part of the public discussion by September 16 at: kabinetguvernera@nbs.rs and kontrola.banaka@nbs.rs.

Narodna banka Srbije Beograd

NBS

Fund for Restructuring of Banks

Law on Banks