The Council of the Central Bank of Montenegro (CBCG) has decided to establish the National Payments Committee.
As announced by the Central Bank of Montenegro, at today's session of the Council of the Central Bank of Montenegro, a set of by-laws was adopted, the obligation to adopt which stems from the Law on Amendments to the Law on the Rehabilitation of Credit Institutions.
"The adoption of these acts aligns the regulatory framework for the resolution of credit institutions with relevant European Union regulations and provides the prerequisites for the efficient implementation of resolution procedures, improving legal certainty and reducing systemic risks," the statement says.
It is stated that in order to improve the standards of secure and efficient payment transactions in the country, as well as to contribute to the successful implementation of the SEPA project, the Council adopted a Decision on the establishment of the National Payment Transactions Committee.
"The main task of this inter-institutional body, whose work will be coordinated by the Central Bank of Montenegro, is to encourage cooperation between payment system participants, exchange opinions and harmonize activities that contribute to the improvement of payment systems in Montenegro as part of the SEPA area, as well as propose new solutions with the aim of achieving a higher level of security and efficiency of payment systems and its further development," the Central Bank of Montenegro said in a statement.
They said that the members of the Council considered the report on the operations and implementation of the Central Bank of Montenegro's policy for January this year.
The report, as it is added, states that the activities of the Central Bank of Montenegro in the observed period were implemented in accordance with the Central Bank of Montenegro's policy for this year.
"The banking sector was found to be solvent and liquid, with stable deposit growth and continued intensive lending activity," the statement said.
It is stated that credit standards and credit conditions for the population and the economy, according to banks, were eased in the fourth quarter of last year compared to the previous quarter, according to data from the report on the results of the survey on bank lending activity for the fourth quarter of last year, which was discussed by the Council today.
"Banks expect that the easing of credit standards and credit conditions for both sectors will continue in the first quarter of this year, which, in their opinion, will be influenced by increased competition, a favorable economic situation, lower uncollectible receivables and a decrease in interest margins," the Central Bank of Montenegro said.
It is added that at today's session, the Council also considered and adopted other materials within its jurisdiction.
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