Statement from the 18th Meeting of the Bank Board of Národná banka Slovenska

The 18th Meeting of the Bank Board of Národná banka Slovenska was held today (15 May 2012) and was chaired by Viliam Ostrožlík, the NBS Deputy Governor.

The Bank Board approved the draft Decree of Národná banka Slovenska laying down the fees for securities issuers and the method of their payment by pension fund management companies.

The Decree will enter into force on 1 June 2012.

The Bank Board approved the draft Decree of Národná banka Slovenska on the risk measurement system and on the calculation of global exposure and counterparty risk for pension funds.

The Decree is based on Act No. 43/2004 Coll. on retirement pension saving, as amended by Act No. 334/2011 Coll., which amendment introduced a new, qualitatively different view of risk measurement in pension funds’ assets and enabled financial derivatives to be applied for the management of index pension funds’ investments, while derivatives with precious metals as the underlying instrument or derivatives with a precious metal index as the underlying instrument to be used in mixed pension funds and index pension funds respectively. The Decree provides more detailed requirements for the risk management system in pension fund management companies. It also regulates the method for the measurement and calculation of global exposure related to derivatives and exposure to counterparty risk resulting from transactions on non-regulated markets.

The Decree will enter into force on 1 June 2012.

Petra Pauerová
NBS Spokesperson

National Bank of Slovakia
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