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Financial market supervision

Supervision of the financial market in Slovakia has been integrated since 2006, when the central bank, Národná banka Slovenska (NBS), took over the supervision of financial market participants in the banking, capital market, insurance and pension fund sectors. General rules of procedure for supervision of the financial market are laid down in the Financial Market Supervision Act.

NBS is a party to the European System of Financial Supervision (ESFS), which was established on 1 January 2011 and is in charge of ensuring the supervision of the EU’s financial system.

Since June 2013 NBS has been authorised to conduct macroprudential policy as part of its supervision of the financial market. Its task in this regard is to identify, monitor and mitigate systemic risks to the financial system and thereby support the stability of the financial system as a whole.

NBS participates in the Single Supervisory Mechanism (SSM), which entered into operation in November 2014 as the first pillar of the EU banking union. The banking union project was instigated in response to the global economic and financial crisis.

As from January 2015, Národná banka Slovenska:

  • is the competent authority for consumer protection in the Slovak financial market, and as such it oversees the protection of the rights of financial consumers so as to support the secure and sound functioning of the financial market;
  • provides expertise to and supports the Resolution Council, which is the national resolution authority for institutions in Slovakia’s financial sector and part of the Single Resolution Mechanism (the second pillar of the banking union). 

News

19.4.2022
On 4 April 2022, the European Commission published the Targeted consultation on the functioning of the  ESG ratings market in the EU and on the consideration of ESG factors in credit ratings . The Commission will consider all responses received by 6 June 2022.

31.3.2022
The Bank Board of Národná banka Slovenska at its meeting held on 29 March 2022 discussed and approved the Macroprudential Commentary – March 2022 (in Slovak language only) and kept the countercyclical capital buffer rate at 1.00%

4.2.2022
On 4 January 2022 ESMA published the Call for evidence – DLT Pilot Regime and review of MiFIR RTS on transparency and reporting. ESMA will consider the responses received by 4 March 2022. more

3.2.2022
On 3 February 2022 ESMA published the Call for Evidence on Market Characteristics for ESG Rating Providers in the EU. ESMA will consider the responses received by 11 March 2022. more

22.12.2021
The Bank Board of Národná banka Slovenska at its meeting held on 20 December 2021 discussed and approved the Macroprudential Commentary – December 2021 and kept the countercyclical capital buffer rate at 1.00%

15.12.2021
On 14 December 2021  ESMA published PUBLIC STATEMENT on transfer of competences and duties relating to certain data reporting services providers from National Competent Authorities to ESMA.

More news