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2022-06-23

Decision on Deadlines for Compliance of Banks’ Internal Acts on Risk Management and for Reporting by Banks

The Executive Board of the National Bank of Serbia issued this Decision to preserve banking system stability amid the COVID-19 pandemic by extending regulatory deadlines. The regulation replaces specific dates in previous decisions, postponing compliance for banks' internal risk management acts to January 1, 2021, and adjusting various reporting requirements to dates in late 2020 and 2023. These changes aim to provide banks with additional time to adapt their internal procedures and submit required reports during the health crisis.

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RS Official Gazette, Nos 67/2020, 137/2020, 59/2021, 60/2021 – correction and 67/2022 Pursuant to Article 4, item 3) and Article 14, paragraph 1, item 11) of the Law on the National Bank of Serbia (RS Official Gazette, Nos 72/2003, 55/2004, 85/2005 – other law, 44/2010, 76/2012, 106/2012, 14/2015, 40/2015 – CC decision and 44/2018), аnd in relation to Article 28, paragraph 7, Article 36, item 2 and Article 51, paragraph 2 of the Law on Banks (RS Official Gazette, Nos 107/2005, 91/2010 and 14/2015), the Executive Board of the National Bank of Serbia hereby issues D E C I S I O N ON DEADLINES FOR COMPLIANCE ОF BANKS’ INTERNAL ACTS ON RISK MANAGEMENT AND FOR REPORTING BY BANKS

  1. This decision changes deadlines for compliance of banks’ internal acts on risk management and for reporting by banks, with a view to preserving the stability of the banking system amid the COVID-19 pandemic.
  2. In the Decision Amending the Decision on Risk Management by Banks (RS Official Gazette, No 88/2019), in Section 7, the wording: “by no later than 1 July 2020” shall be replaced by the wording: “by no later than 1 January 2021”.
  3. In the Decision Amending the Decision on Reporting Requirements for Banks (RS Official Gazette No 27/2020), in Section 7, the wording: “as at 29 May 2020” shall be replaced by the wording: “as at 30 October 2020”. In Section 8, the wording: “as at 30 April 2020, by no later than 20 May 2020” shall be replaced by the wording: “as at 30 September 2020, by no later than 20 October 2020”. In Section 9, paragraph 1, the wording: “as at 1 June 2020, by no later than 2 June 2020” shall be replaced by the wording: “as at 2 November 2020, by no later than 3 November 2020”. In Section 9, paragraph 2, the wording: “as at 30 September 2020, by no later than 20 October 2020” shall be replaced by the wording: “as at 30 September 2023, by no later than 20 October 2023”. In Section 10, the wording: “from 1 June 2020, except Section 3 hereof which shall be applied from 30 September 2022” shall be replaced by

2 the wording: “from 2 November 2020, except Section 3 hereof which shall be applied from 30 September 2023”. 4. This Decision shall come into force on the eighth day following its publication in the Official Gazette of the Republic of Serbia. NBS Executive Board No 82 Chairperson 7 May 2020 Executive Board of the National Bank of Serbia B e l g r a d e G o v e r n o r National Bank of Serbia Dr Jorgovanka Tabaković

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