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Statement from the NBS Bank Board’s 13th meeting of 2020

The Bank Board of Národná banka Slovenska today (9 June) held its 13th meeting of 2020, chaired by NBS Governor Peter Kažimír.

The Bank Board took note of NBS’s June 2020 Medium-Term Forecast (MTF-2020Q2).

The Bank Board approved a cost-benefit analysis of the use of one and two euro cent coins in currency in circulation. Having regard to the minting and handling costs of these coins for participants in currency circulation and to the fact that their low denomination in relation to goods and services prices makes them of limited use, NBS proposes to restrict the use of these coins by having final purchase prices rounded to a five cent multiple.

The Bank Board approved a Decree of Národná banka Slovenska stipulating how to demonstrate compliance with the conditions for an authorisation to establish and manage standard funds and European standard funds and for an authorisation to establish and manage alternative investment funds and foreign alternative investment funds and repealing Decree No 6/2012 of Národná banka Slovenska of 12 June 2012 on how to demonstrate compliance with the conditions for the issue of a management company’s authorisation.

The Decree reflects recent amendments to Act No 203/2011 on collective investment. These amendments dispense applicants from having to submit criminal record check certificates and extracts from the Commercial Register. They also modify the rules for demonstrating compliance with the conditions for establishing and managing alternative investment funds and foreign alternative investment funds.

The Decree takes effect on 1 July 2020.

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

The amending Decision introduces the first measures of an additional credit claim (ACC) framework in Slovakia. For the purposes of Eurosystem monetary policy operations, the framework allows NBS to temporarily accept as collateral credit claims that do not fulfil all the standard eligibility criteria defined by the Eurosystem. The ACC framework will improve Slovak banks’ access to Eurosystem liquidity-providing operations. In addition, the amending Decision modifies certain other legal terms for the acceptance of credit claims as collateral in order to clarify the rules for using such 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

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