Statement from the 1st Meeting of the Bank Board of Národná banka Slovenska
The Bank Board of Národná banka Slovenska held its first meeting of 2011 today (4 January), which was chaired by Jozef Makúch, the NBS Governor.
The Bank Board approved a Decree of Národná banka Slovenska amending Decree No 607/2008 Coll. of Národná banka Slovenska on some details of cash currency circulation and on amendments to certain decrees.
The purpose of the Decree is to avoid duplication of legislation in the processing of euro banknotes and euro coins by deleting provisions that are now covered by directly binding legal acts of the European Union, namely: Decision of the European Central Bank of 16 September 2010 on the authenticity and fitness checking and recirculation of euro banknotes (ECB/2010/14) and Regulation (EU) No 1210/2010 of 15 December 2010 concerning authentication of euro coins and handling of euro coins unfit for circulation.
The draft Decree also includes amendments that are a necessary response to the situation in cash circulation.
One of the changes related to the circulation of euro cash is that banks will be required to exchange also euro banknotes that are only very slightly damaged. This means mainly notes that have a corner torn off, which up to now have only been exchangeable at Národná banka Slovenska.
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