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01/03/2018

Regarding the article "Seeking to reveal who stands behind the 50 million euro deposit", published in the daily Pobjeda today, we mention that the Central Bank of Montenegro previously made a statement on the matter, clarifying the legal limitation on the publication of individual data.

To fully inform the public, we give the extended clarification:

In accordance with the Central Bank of Montenegro Law, the CBCG collects, statistically processes and publishes data and information. As a responsible and transparent institution, subject to legal authority, the CBCG publishes regular (monthly) data collected in accordance with the decisions on reports submitted to this institution.

Monetary statistics, which is published monthly on the CBCG website, is in line with the methodology of the IMF and the ECB for the compilation of monetary and financial statistics.

Adhering to the confidentiality principle, the data are published at the aggregate level, with a detailed overview of all positions in the balance sheet of banks, by sector and maturity. The structure of the position of the balance sheet by sector also includes an overview of the non-governmental sector and other non-profit institutions at the aggregate level.

According to the Instructions of the Central Bank of Montenegro for booking entries on separate accounts of the bank's chart of accounts, the following entries are booked on the accounts of the chart of accounts relating to non-governmental and other non-profit institutions, residents: receivable/liabilities of domestic non-governmental organizations (non-governmental associations and non-governmental foundations) and other non-profit organizations including unions, associations of citizens, professional associations, political parties, religious communities, sports organizations and artists` associations. 

There are special accounts within the chart of accounts for booking non-resident funds, depending on the sectoral classification of the institution.

Please note that, in accordance with Article 84 of the Banking Law, the data on the individual amount of deposits are considered bank secrecy and cannot be published by the CBCG. Such data can be made available only with the explicit consent of the data holder or at the request of the competent state authority.