115th Meeting of the CBCG Council
17/02/2022
Today, the Council of the Central Bank of Montenegro held its 115th meeting chaired by Governor Radoje Žugić.
At the meeting, the Council discussed the reports on the Central Bank of Montenegro’s operations and implementation of the CBCG policy for November and December 2021. These reports stated that the CBCG implemented its activities according to planned obligations and deadlines during this period.
To harmonise with European regulations in credit institutions’ recovery and rehabilitation, the Council adopted a Decision Amending the Decision on Recovery Plans of Credit Institutions and the Decision on criteria for determining key functions and basic business lines of credit institutions. They set the criteria for determining credit institutions’ operations’ key functions and basic business lines when creating recovery plans and resolution plans.
The Council adopted the Decision on the reserve requirement of credit institutions held with the Central Bank of Montenegro to harmonise the secondary legislation with the Law on Credit Institutions, which implementation began on 1 January 2022. The Decision sets the credit institutions’ obligation to calculate, allocate and maintain reserve requirement while maintaining the same reserve requirement rates, the manner of holding, the deadlines for calculating and allocating required reserves, and conditions for using reserve requirements use.
The Council also discussed other current issues within its competence at the meeting.