Statement from the NBS Bank Board’s 20th meeting of 2024
On 5 November 2024 the Bank Board of Národná banka Slovenska (NBS) held its 20th meeting of the year, chaired by NBS Governor Peter Kažimír.
The Bank Board discussed and approved an NBS Decree on reporting by the Slovak Insurers’ Bureau. The Decree is drafted on the basis of the enabling provisions in Section 26(4) of Act No 381/2001 on compulsory motor third party liability insurance (and amending certain laws), as amended, and Section 35(2) of Act No 747/2004 on financial market supervision (and amending certain laws), as amended.
In line with the transition to the International Financial Reporting Standard (IFRS) 17 for insurance contracts, the Decree amends and supplements the reporting statements that the Slovak Insurers’ Bureau is required to submit to Národná banka Slovenska. Additionally, it introduces an industry-supported mechanism for assessing risks associated with compulsory motor third party liability insurance.
The Decree establishes three new reporting statements to be submitted annually to Národná banka Slovenska via its Statistics Collection Portal information system and also modifies certain existing reports.
The Decree repeals NBS Decree No 16/2015 on reporting by the Slovak Insurers’ Bureau (Notification No 32/2016) of 24 November 2015 and takes effect on 1 January 2025.
The Bank Board discussed and approved the 2025 Budget of Národná banka Slovenska.
National Bank of Slovakia
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