Regulatory Alerts2024-01-01
Decision amending the Decision on Bank Reserve Requirement at the Central Bank of Montenegro
The Council of the Central Bank of Montenegro issued Decision 0101-5825-7/2024 on 31 July 2024 to amend the existing Decision on Bank Reserve Requirement. The amendment modifies Article 10 by replacing the previous reference to the €STR rate minus 10 basis points with a fixed rate of zero percent. This regulatory change enters into force on the eighth day following its publication in the Official Gazette of Montenegro.
Pursuant to Article 44 paragraph 2 point 3 and Article 18 of the Central Bank of Montenegro Law (OGM 40/10, 6/13. 70/17, 125.23), at its meeting held on 31 July 2024, the Council of the Central Bank of Montenegro passed the following DECISION amending the Decision on Bank Reserve Requirement at the Central Bank of Montenegro Article 1 In the Decision on Bank Reserve Requirement at the Central Bank of Montenegro (OGM 19/22) in Article 10, the words “€STR rate minus 10 basis points on annual basis until the eighth calendar day in the current month for the previous month, provided that this rate may not be lower than zero” shall be replaced with the words: ”0 (zero)”. Article 2 This Decision shall enter into force on the eighth day following that of its publication in the Official Gazette of Montenegro. THE COUNCIL OF THE CENTRAL BANK OF MONTENEGRO Decision number: 0101-5825- 7/2024 Podgorica, 31 July 2024 CHAIRPERSON, G O V E R N O R Irena Radović, m.p.