Statement from the NBS Bank Board’s 16th meeting of 2020

The Bank Board of Národná banka Slovenska today (28 July) held its 16th meeting of 2020, chaired by NBS Governor Peter Kažimír.

The Bank Board took note of NBS’s July 2020 Monthly Bulletin, which will be published on the NBS website.

The Bank Board approved a Recommendation of Národná banka Slovenska on capital and profit distribution by banks and insurers during the COVID-19 pandemic.

The purpose of the Recommendation is to preserve the capital positions of banks and insurers and thereby strengthen the domestic financial sector’s resilience and its ability to support the economic recovery. Thus, it will bolster loss-absorption capacities, lending to the real economy, and the vital functions of the banking and insurance sectors. The Recommendation builds on Recommendation of the European Systemic Risk Board of 27 May 2020 (ESRB/2020/7), and it will be in effect from 1 August 2020 to 31 December 2020.

The Bank Board approved a Decision of Národná banka Slovenska amending Decision No 2/2015 of Národná banka Slovenska of 28 April 2015 on the implementation of the Eurosystem monetary policy framework in the Slovak Republic, as amended.

The amending Decision introduces a further measure in regard to the extension of the additional credit claims (ACC) framework in Slovakia. The extended ACC framework temporarily allows NBS to accept as collateral in Eurosystem monetary policy operations credit claims that do not fulfil all the standard eligibility criteria; it thereby improves Slovak banks’ access to liquidity provided by the Eurosystem. The amendment enables the acceptance of certain set-off risks in certain credit claims.

Peter Majer
NBS Spokesperson

National Bank of Slovakia
Communications Section
Imricha Karvasa 1, 813 25 Bratislava, Slovak Republic
Tel.: +421-2-5787 2142, +421-2-5865 2142, +421-2-5787 2169, +421-2-5865 2169
Internet: http://www.nbs.sk

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