Decision on Amendments and Supplements to the Decision on Determining Operational Rules for Real-Time Gross Settlement

Based on Article 2, paragraph (3), point c) and Article 7, paragraph (1), point b) of the Law on the Central Bank of Bosnia and Herzegovina ('Official Gazette of BiH', nos. 1/97, 29/02, 8/03, 13/03, 14/03, 9/05, 76/06 and 32/07), the Governing Board of the Central Bank of Bosnia and Herzegovina, at its 5th session held on May 13, 15, and 22, 2019, adopts

DECISION on amendments and supplements to the Decision on determining operational rules for real-time gross settlement

Article 1. In the Decision on determining operational rules for real-time gross settlement ('Official Gazette of BiH', No. 31/16), Article 2, paragraph (3) is amended and reads: "(3) Participants of RTGS are the Central Bank and banks that meet the conditions set out in this Decision."

Article 2. In Article 3, paragraph (2) is amended and reads: "(2) The Central Bank manages, controls, and supervises the operation of the RTGS system and monitors the procedures of participants in the RTGS system." Paragraph (3) is deleted.

Article 3. After Article 6, Articles 6a and 6b are added, which read: "Article 6a. (Conditions for inclusion in RTGS) To be included in the RTGS system, a bank is obliged to meet the following conditions: to ensure technical conditions for operation in the RTGS system, to be a member of SWIFT, to have approval for conducting payment business, to have an opened reserve account with the Central Bank of Bosnia and Herzegovina, to have an opened settlement account in RTGS, to have signed the Statement of Acceptance of Operational Rules for Real-Time Gross Settlement."

Article 6b. (Opening of a settlement account in RTGS) (1) To open a settlement account in RTGS, a bank must: meet the conditions from Article 6a, points a), b), c), d), and f) of this Decision, be successfully tested for participation in RTGS according to test scenarios determined by the Central Bank, and notify the Central Bank in writing of the date of commencement of operations in RTGS. (2) After the conditions from paragraph (1) of this Article are met, the Central Bank opens a settlement account in RTGS and notifies the bank of the date of operation in RTGS."

Article 4. After Article 7, Article 7a is added, which reads: "Article 7a. (RTGS System Testing) Testing of the RTGS system is carried out in the following cases: inclusion of a new participant in RTGS, change of the bank's BIC code, upon request of a participant, and upon request of the Central Bank."

Article 5. In Article 18, paragraph (5) is amended and reads: "(5) If a participant – net debtor at the time of the need for direct debit – does not have sufficient funds in the settlement account, the Central Bank will transfer funds in the amount of the net debtor position from the reserve account to the participant's settlement account. Settlement of the position will be executed immediately upon securing funds in the settlement account."

Article 6. (1) This Decision enters into force on the day following its publication in the 'Official Gazette of BiH' and shall be applied from June 1, 2019. (2) This Decision shall be published in the 'Official Gazette of the Federation of Bosnia and Herzegovina', the 'Official Gazette of the Republic of Srpska', and the 'Official Gazette of the Brčko District of Bosnia and Herzegovina'.

Chairman of the Governing Board of the Central Bank of Bosnia and Herzegovina GOVERNOR dr. Senad Softić No.: UV-122-01-1-1405-3/19 KS Sarajevo, May 22, 2019