Regulatory Alerts2020-01-01
Decision on Participation of the Central Bank of Montenegro and Banks in the Clearing of International Payments
The Council of the Central Bank of Montenegro issued this Decision to regulate the participation of the Central Bank and domestic banks in the euro-denominated clearing of international payments with Bosnia and Herzegovina and Serbia. The document establishes mandatory procedures for bank registration, daily submission of net position limits, fund pay-ins to a purpose-specific account at Deutsche Bank, and the transmission of payment orders via SWIFT. It further defines the settlement mechanics, final balance calculations, interest and expense allocations, and fee structures for participating institutions.
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