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26/03/2024

The Council of the Central Bank of Montenegro adopted the Decision Amending the Decision on the Calculation and Reporting of the Effective Interest Rate on Loans and Deposits, which created the preconditions for publishing the informative list of consumer loans offered on the CBCG website. Namely, the amended Decision introduces the obligation of credit institutions to submit data on interest rates for consumer loans to the CBCG, which the CBCG will then publish on its website to provide more comprehensive information to the public. It will provide better information to consumers, who can compare interest rates and choose whose lending services they will use simply and in one place.

To meet the CBCG's obligation stemming from the Law on Credit Institutions to determine the quarterly countercyclical buffer rate for the territory of Montenegro, the Council adopted the Decision on the Countercyclical Capital Buffer Rate for Q2 2024. Based on analysing relevant banking sector trends and the overall economy, the Decision determined the 0% countercyclical capital buffer rate for Q2 2024. At the same time, the Council adopted the Decision on Increasing the Countercyclical Capital Buffer Rate, which application will start on 1 April 2025 following the legal solution. Based on the regular annual assessment, the Council also adopted decisions on determining other systemically important (OSI) credit institutions and buffer rates for these institutions.

At this meeting, the Council adopted the Decision Amending the Decision on Remuneration in Credit Institutions to align it with the relevant EU directives further.