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Statement from the NBS Bank Board’s 6th meeting of 2020

The Bank Board of Národná banka Slovenska today (24 March) held its 6th meeting of 2020, chaired by NBS Governor Peter Kažimír.

The Bank Board took note of NBS’s March 2020 Monthly Bulletin.

The Bank Board took note of NBS’s March 2020 Medium-Term Forecast (MTF-2020Q1).

Národná banka Slovenska proposes to leave the current settings of the countercyclical capital buffer (CCyB) rate unchanged for the time being (it is currently at 1.50% and is due to be raised to 2.00% from 1 August 2020). In the event, however, of an increase in domestic banks’ losses, NBS stands ready to reduce the CCyB rate with immediate effect in order to support the flow of loans to the real economy.

The European Central Bank has already provided banks with significant capital relief amounting to around 3.5% of their risk-weighted assets, so that banks are not constrained in their lending activity and can absorb losses to a greater extent.

At the same time, given the current climate of significantly increasing uncertainty about the economic outlook, NBS expects banks and their shareholders to reassess the planned payment of dividends for 2019, so that banks’ total amount of Tier 1 capital is increased at least by the amount of their profit for 2019.

The Bank Board approved a document entitled “Report on the implementation of investment policy for investment portfolios in 2019”.

The Bank Board approved the notification of the issuance of a €10 silver collector coin commemorating the 300th anniversary of the birth of Maximilian Hell.

The coin is made from an alloy of silver (90%) and copper (10%), weighs 18 g, and has a diameter of 34 mm. Designed by Karol Ličko and produced by the Kremnica Mint, the coin is due to go on sale in May 2020.

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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