Regulatory Alerts2015-06-30
Decision on Detailed Conditions and Manner of Carrying out Temporary Administration in a Bank
The Executive Board of the National Bank of Serbia issued this Decision to establish the detailed conditions and procedures for implementing temporary administration in banks when standard management removal is insufficient. The regulation defines the strict independence requirements for appointed temporary administrators, outlines their specific powers to manage or jointly oversee bank operations, and mandates regular reporting on the institution's financial condition and remediation progress. It further specifies the administrator's remuneration, a maximum initial term of one year, and the precise circumstances under which the temporary administration is terminated or converted into special management or bankruptcy proceedings.
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