CBCG Enters the Final Phase of European Integration in the Financial Services Area
01/12/2025
At its meeting held on 28 November 2025, the Council of the Central Bank of Montenegro, chaired by Governor Irena Radović, adopted the drafts of three laws which adoption represents a key prerequisite for meeting the closing benchmarks for the closure of negotiating Chapter 9 – Financial Services. With this, the CBCG has fully completed its obligations in aligning the national framework with the EU acquis governing financial services.
The Draft Law on the Digital Operational Resilience of the Financial Sector aligns the domestic regulatory framework with the DORA Regulation (Digital Operational Resilience Act), the European standard ensuring the resilience of financial institutions to cyber risks and technological incidents. The application of this law, which will begin on the day Montenegro accedes to the European Union, will ensure a high level of protection against cyber threats, business continuity, and the swift recovery of systems in the event of potential disruptions, in line with the best EU practices.
The proposed Draft Law Amending the Law on Financial Conglomerates ensures full alignment with Directive (EU) 2023/2864, thereby further regulating the obligations of financial conglomerates regarding transparency and data exchange with European supervisory authorities.
Due to significant changes in the European regulatory framework and the need for timely harmonisation of national legislation, the Council also adopted the Draft Law Amending the Law on Financial Collateral Arrangements.
In line with the obligation defined by the Central Bank of Montenegro Law, the Council adopted the Central Bank of Montenegro Policy in 2026. This document provides a detailed definition of the activities to be undertaken in the coming year towards fulfilling the statutory functions and strategic objectives of the CBCG.
The Central Bank of Montenegro Policy in 2026 will focus on further strengthening institutional capacities and achieving the goals set out in the Central Bank of Montenegro’s Strategic Plan 2025‒2028. Particular focus will be put on aligning organisational and operational processes with EU and Eurosystem frameworks to ensure conditions for smooth integration while maintaining the flexibility required to adapt to new demands.
The Council also adopted decisions designating other systemically important credit institutions (O-SII), which are required to maintain the prescribed buffer rate.