Decision on the Method of Disclosing Confidential Information on Credit Institutions under Resolution in Summary or Collective Form

Pursuant to Article 44 paragraph (2) item 3) of the Central Bank of Montenegro Law (OGM 40/10, 06/13, 70/17) and Article 129 paragraph (8) of the Law on Resolution of Credit Institutions (OGM 72/19), the Council of the Central Bank of Montenegro, at its meeting held on 21 December 2020, passed the following DECISION ON THE METHOD OF DISCLOSING CONFIDENTIAL INFORMATION ON CREDIT INSTITUTIONS UNDER RESOLUTION IN SUMMARY OR COLLECTIVE FORM Basic provision Article 1 This Decision shall govern the method of disclosing confidential information that may be provided in summary or collective form in accordance with Article 129 paragraph (3) of the Law on Resolution of Credit Institutions (OGM 72/19) – (hereinafter: the Law). The method of provision of confidential information Article 2 To ensure that confidential information, in accordance with Article 129 paragraph (3) of the Law, are provided in summary or collective form, in such a manner that individual credit institutions or legal persons referred to in Article 3 items 2), 3), and 4) of the Law cannot be identified, the confidential information should be provided either by means of a brief statement on an individual credit institution or on an aggregate basis for multiple credit institutions, in anonymised form, i.e. in a manner which ensures that their identity is not disclosed. Factors to be considered when disclosing confidential information Article 3 To ensure that confidential information in summary or collective form is disclosed in a manner which does not reveal the identity of credit institutions or legal persons referred to in Article 3 items 2), 3), and 4) of the Law, all the following factors should be considered:

1. the number of credit institutions or legal persons referred to in Article 3 items 2), 3), and 4) of the Law: if the confidential information relates to fewer than three credit institutions or legal persons referred to in Article 3 items 2), 3), and 4) of the Law, disclosure should be avoided, unless the specific patterns, as specified in item 2) of this paragraph, and the context of disclosure, as specified in item 3) of this paragraph, do not create a risk of those individual credit institutions or legal persons being identified;
2. specific patterns: when disclosing confidential information any reference to specific characteristics, distinctive features, names or to numerical, qualitative or other distinctive data allowing identification of the individual credit institutions or

2 legal persons referred to in Article 3 items 2), 3), and 4) of the Law, should be avoided; 3) context of disclosure: disclosure of confidential information should be avoided when a set of circumstances, such as the means of the disclosure, the number and the characteristics of the addressees, the timing of the disclosure and any other distinctive circumstance creates a risk of the individual credit institutions or legal persons referred to in Article 3 items 2), 3), and 4) of the Law being identified. Final provision Article 4 This Decision shall enter into force on the day following that of its publication in the Official Gazette of Montenegro, and it shall apply from the date of application of the Law on Resolution of Credit Institutions (OGM 72/19). THE COUNCIL OF THE CENTRAL BANK OF MONTENEGRO CHAIRMAN Decision number: 0101-7571-6/2020 G O V E R N O R, Podgorica, 21 December 2020 Radoje Žugić, m.p.