The NBS adopts regulations to introduce Basel III standards in Serbia’s banking sector
The National Bank of Serbia’s (NBS) Executive Board has adopted new regulations introducing Basel III Standards to the Serbian banking market, in line with a strategy for the implementation of these standards.
The changes in regulations include:
- a decision on capital adequacy of banks
- a decision on the disclosure of data and information by banks
- a decision on reporting on capital adequacy of banks
- a decision amending the decision on reporting requirements for banks
- a decision on liquidity risk management by banks
- a decision amending the decision on risk management by banks
The purpose of these regulations is the continuous improvement of the regulatory framework in accordance with international standards and EU regulations. They shall increase the resilience of Serbia’s banking sector by enhancing the quality of capital, raise the efficiency of monitoring and controlling banks’ exposure to liquidity risk and further strengthen market discipline and transparency of banking operations.
The regulations will apply as of 30 June. In order to test their capacity to report in this respect, banks will have to submit reports envisaged by the decision on reporting on capital adequacy and the decision amending the decision on reporting requirements by 20 April 2017.
Dragana Stijelja
Corporate Actions and Tax Specialist