Regulatory Alerts2018-01-01
Decision on Amendments and Supplements to the Decision on the Purchase and Sale of Physical Foreign Currency for Foreign Exchange Funds by Commercial Banks
The Governing Board of the Central Bank of Bosnia and Herzegovina issued this Decision to amend the regulations governing the purchase and sale of physical foreign currency by commercial banks. The amendments define working days based on Central Bank and TARGET system operations, grant the Central Bank discretion to approve foreign exchange requests based on reserve availability, and standardize fee calculations according to the Central Bank's tariff regulations. The Decision entered into force on the eighth day following its publication and applies from May 1, 2021.
Based on Article 2, paragraph (4), item b), sub-item (I), Article 7, paragraph (1), item b), and Article 70 of the Law on the Central Bank of Bosnia and Herzegovina ('Official Gazette of BiH', nos. 1/97, 29/02, 13/03, 9/05, 76/06, and 32/07), the Governing Board of the Central Bank of Bosnia and Herzegovina, at its fifth session held on March 29, 2021, adopts
DECISION on Amendments and Supplements to the Decision on the Purchase and Sale of Physical Foreign Currency for Foreign Exchange Funds by Commercial Banks
Article 1. In the Decision on the Purchase and Sale of Physical Foreign Currency for Foreign Exchange Funds by Commercial Banks ('Official Gazette of BiH', No. 64/18), after paragraph (3) of Article 2, paragraph (4) is added, which reads:
'(4) A working day for the purposes of this Decision is a day on which the Central Bank and the TARGET system operate. Non-working days for the Central Bank are Saturday, Sunday, January 1 and 2, May 1 and 2, and other days designated by the Governor of the Central Bank in accordance with regulations for justified reasons. Non-working days for TARGET are defined by Eurosystem regulations.'
Article 2. Article 4, paragraph (6) is amended and reads: '(6) Depending on the current availability of foreign exchange reserves, the investment plan, and previously assumed obligations, the Central Bank may approve the request from paragraph (5) of this Article.'
Article 3. Article 6 is amended and reads:
'Article 6. (Fee) The Central Bank calculates and collects fees in accordance with the regulation on the tariff of fees of the Central Bank.'
Article 4. This Decision enters into force on the eighth day from the date of publication in the 'Official Gazette of BiH', and is applied from May 1, 2021.
Article 5. This Decision is also published in the 'Official Gazette of the Federation of Bosnia and Herzegovina', the 'Official Gazette of the Republika Srpska', and the 'Official Gazette of the Brčko District of Bosnia and Herzegovina'.
Chairman No.: UV-122-01-1-892-8/21 Governing Board of the Central Bank Sarajevo, March 29, 2021 of Bosnia and Herzegovina GOVERNOR dr. Senad Softić