Decision amending the Decision on Recovery Plans of Credit Institutions

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Pursuant to Article 44 paragraph 2 item 3) of the Central Bank of Montenegro Law (OGM 40/10, 6/13, 70/17) and Article 125 paragraph (9) of the Law on Credit Institutions (OGM, 72/19, 8/21), the Council of the Central Bank of Montenegro, at its meeting held on 17 February 2022, passed the following DECISION AMENDING THE DECISION ON RECOVERY PLANS OF CREDIT INSTITUTIONS
Article 1
In the Decision on recovery plans of credit institutions (OGM 127/20), in Article 12 paragraph (2) item 2) the words “key” shall be replaced by the following: “core”.
Article 2
In Article 15 paragraphs (1) and (2), after the word: “function and”, the following “core” shall be added. Paragraph (3) shall be deleted. Current paragraph (4) shall become paragraph (3).
Article 3
In Article 16 paragraphs (1) item 1) indent 3, the Montenegrin words translated as “core business lines” shall be replaced by other Montenegrin words, with no relevance to the English translation. Indent 4 shall be amended, worded as follows:
“ - a description of the criteria for determining core business lines and critical functions; In item 2), the Montenegrin words translated as “core business lines” shall be replaced by other Montenegrin words, with no relevance to the English translation.
Article 4
In Article 18 paragraphs (2) item 1, the Montenegrin words translated as “core business lines” shall be replaced by other Montenegrin words, with no relevance to the English translation.
Article 5
Annex 2 shall be replaced by a new Annex 2 attached to this Decision and makes integral
part thereof.

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Article 6
This Decision shall enter into force on the eight day following that of its publication in the Official Gazette of Montenegro. THE COUNCIL OF THE CENTRAL BANK OF MONTENEGRO CHAIRMAN G O V E R N O R, Decision number: 0101-1233-4/2022 Podgorica, 17 February 2022 Radoje Žugić, m.p.

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ANNEX 2
TEMPLATE 1: RECOVERY OPTIONS
Option name
Areas of measures Is it applied in early intervention phase Capital Liquidity Financial leverage Risk management Restructuring of liabilities Other

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TEMPLATE 2: SCENARIOS
Scenario name
Type of scenario Fast-
/slow￾developin g events
Stresses and their parameter s
Application of reverse stress testing
Level of indicators after stress testing
Measures that are applicable in the scenario Level of indicators after the implementa tion of measures Specific Systemic Combined