Statement from the 52nd Meeting of the Bank Board of the NBS

The 52nd Meeting of the Bank Board of Narodna banka Slovenska was held on 16 December 2008, chaired by Ivan Sramko, Governor.

The Bank Board of the NBS approved a Decree of Narodna banka Slovenska on submitting the statements for statistical purposes by banks, branches of foreign banks, securities dealers and branches of foreign securities dealers.
The Decree has been prepared in accordance with Article 42 Paragraph 2 of the Act No. 483/2001 Coll. on the Banks and on amendment of certain Acts, as amended, in accordance with Article 77 Paragraph 7 of the Act No. 566/2001 Coll. on Securities and Investment Services and on amendments and supplements to certain Acts, as amended, and in accordance with Article 8 Paragraph 8 letter a) of the Act of the National Council of the Slovak Republic No. 202/1995 Coll. Foreign Exchange Act amending the Act of the Slovak National Council No. 372/1990 Coll. on Offences as amended by the Act No. 602/2003 Coll.
The Decree stipulates the content, form, paragraphing, deadlines, method, procedure and place of submitting reports on behalf of Banks, Branches of Foreign Banks, Securities Dealers and Branches of Foreign Securities Dealers effective from 1 January 2009.

The Bank Board of the NBS approved the Decree of the NBS on the submitting of reports for statistical purposes by insurance companies and branches of foreign insurance companies and on amendments to the Decree of the NBS No. 4/2008 on submitting the statements, reports, overviews and other disclosures by insurance companies and branches of foreign insurance companies. The Decree has been prepared in accordance with Article 35 Paragraph 2 of the Act No. 747/2004 Coll. on Supervision of the Financial Market and on amendments and supplements to certain Acts. The Decree stipulates the content, paragraphing, deadlines, form, method, procedure and place of submitting reports for statistical purposes by insurance companies and branches of foreign insurance companies to Narodna banka Slovenska. The Decree shall become effective on 1 January 2009.

The Bank Board of the NBS approved the Decision of the NBS on performing monetary policy operations following the entry of the Slovak Republic to the euro area and framework contracts for performing of Eurosystem monetary policy operations. The above-stated decision will be published in the Bulletin of the NBS.

The Bank Board of the NBS discussed and approved the Decree of the NBS on some details of the cash circulation and on amendments of certain Decrees.
The purpose of the Decree is to regulate by the generally binding regulation the legal relations in the area of the cash circulation related to the change of legal tenders valid in the territory of the Slovak Republic from 1 January 2009 which are not amended in the European Union/European Communities legislation or in legally binding Acts of the European Central Bank. It refers particularly to the details of euro banknotes and euro coins processing by banks and other CIT companies, withdrawal of counterfeit, altered or without authorization produced banknotes and coins in any currency by persons liable as well as the replacement of mutilated, partially damaged and otherwise damages banknotes and coins. At the same time the Decree stipulates the terms and conditions related to material and technical equipment and banks and other CIT companies´ procedures for euro cash processing so that they are in accordance with the terms and conditions of other euro area countries.
With further reference to the provision of the Article 17 f) of the National Council Act No. 566/1992 Coll. on the National Bank of Slovakia as amended, the Decree regulates in more detail the issues related to granting a licence of the NBS for other persons to process banknotes and coins by companies which are not banks.

The Bank Board of the NBS approved Decree of Národná banka Slovenska on submitting reports in accordance with the Foreign Exchange Act. The Decree stipulates content, form, paragraphing, deadlines, method, procedure and place of submitting reports from January 2009.
When reporting the data in terms of assets and liabilities related to Slovak residents abroad and related to Slovak non-residents, the value of those assets and liabilities where foreign exchange reporting requirements arise, has changed increased from SKK 20 million to EUR 700 thousands. Reporting requirements regarding opening an account and its balance abroad has been cancelled. The above-stated data regarding the account´s balance as at 31 December 2008 will be offered for the last time to Narodna banka Slovenska at the latest till 15 January 2009.

Jana Kovacova
Spokesperson of the NBS

National Bank of Slovakia
Communications Section
Imricha Karvasa 1, 813 25 Bratislava, Slovak Republic
Tel.: +421-2-5787 2161,+421-2-5865 2161, +421-2-5787 2166, 421-2-5865 2166
Internet: http://www.nbs.sk

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