Regulatory Alerts2020-12-08
Added · Updated
Decision on Detailed Regulation of Contractual Recognition of Write-Down and Conversion Powers for Third Country Law Liabilities
The Council of the Central Bank of Montenegro issued this Decision to detail the contractual recognition of write-down and conversion powers for credit institution liabilities governed by third country law. It mandates specific acknowledgments in relevant agreements regarding the Central Bank's bail-in powers and defines material amendments and secured liability exclusions. The regulation also establishes criteria for exempting liabilities from contractual recognition requirements when equivalent third country legal procedures are in place.
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