Regulatory Alerts2005-04-11
Extracts from the Constitution of the Slovak Republic
The Slovak Republic amended Article 56 of its Constitution to formally establish the National Bank of Slovakia as an independent central bank with the authority to issue generally binding legislation. This constitutional change aligns national banking law with European Union requirements, particularly regarding the independence of central banks and the maintenance of price stability. The amendment also codifies the Bank Board as the supreme governing body and mandates that detailed provisions be stipulated by subsequent legislation.
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