Credit Operations


In case of liquidity needs, the CBCG may grant liquidity loans to banks in the form of:


  • intraday liquidity loans
  • overnight liquidity loans
  • short term liquidity loans


The CBCG may grant a liquidity loan provided that the bank is solvent and that loan has been secured by securities issued by the State of Montenegro, EU Members States and international financial institutions or other collateral deemed acceptable by the CBCG, except immovable properties. The nominal value of securities, i.e. the market value of other security assets, offered as security for the liquidity loan shall be no less than 110% of the loan value. In cases in which the market value of securities and other collateral offered as security against the liquidity loan has fallen by more than 5 percentage points of the initially agreed percentage for collateralising the loan, the bank shall, at the CBCG’s request, provide the additional collateral or return a portion of the liquidity loan. 


A bank may apply for an intraday liquidity loan if it is lacking funds in its account to meet all its due liabilities during a working day. The bank may use an intraday loan provided that it has used 50% of allocated reserve requirements for maintaining daily liquidity. The CBCG shall charge interest on the granted intraday loan at the annual rate of 1.5%.


The bank shall repay the intraday loan to the CBCG on the same working day, no later than by the expiry of time envisaged for the exchange of payment transaction messages in accordance with the RTGS system. If the bank fails to repay the intraday liquidity loan by the expiry of time envisaged, the CBCG grants an overnight liquidity loan to the bank, without the latter’s request, in the amount of the non-repaid portion of the intraday liquidity loan.


The CBCG grants an overnight liquidity loan to a bank, if the bank, by the expiry of time envisaged for the exchange of payment transaction messages, is lacking funds in its account to meet all its due liabilities. The CBCG shall charge interest on the granted overnight loan at an annual rate of 2%.


The bank is obliged to repay the overnight liquidity loan and the pertinent interest to the CBCG by 10:00 hours on the subsequent working day. If the bank fails to repay the overnight liquidity loan by the specified deadline, the CBCG charges the bank the statutory default interest, for the period beginning from the maturity date until the collection of the overnight loan.


The CBCG may grant a short-term liquidity loan to a bank experiencing temporary difficulties in liquidity maintenance. The CBCG may grant the short-term liquidity loan to a bank for the period not exceeding 180 calendar days. The bank shall repay the short-term loan to the CBCG by the expiry of time envisaged for the exchange of payment transaction messages in accordance with the RTGS as at the due date.


The CBCG may sign a loan renewal agreement only once for an additional period of a maximum of 180 days with the bank which has previously adopted the program for resolving liquidity issues which the CBCG deems acceptable.


The CBCG charges interest on the granted short term loan at an annual rate of 2.5%, and it increases it by 0.5 percentage points in the case of loan renewal. If the bank fails to repay the short term liquidity loan at the agreed date, the CBCG charges the bank at the statutory default interest.


Decision on detailed conditions for granting loans to banks in case of their liquidity needs (OGM 82/17).