Regulatory Alerts2023-12-20
Decision Determining the Upward/Downward Haircut to the Nominal Value of Securities
The Governor of the National Bank of Serbia issued this Decision to establish the specific upward and downward haircut percentages applied to the nominal value of securities used in open market operations and liquidity loans. The regulation defines these haircuts based on security type, residual maturity, and solvency ratings, with Annex 1 detailing the exact rates for instruments such as NBS bills, government discount and coupon securities, and corporate bonds. This Decision repeals the previous version from March 2020 and entered into force on the day of its adoption on June 30, 2020.
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