Regulatory Alerts2017-04-04
Decision Specifying Conditions for Granting and Revoking Authorization to Banks to Engage in Foreign Transactions
The Governor of the National Bank of Serbia issued this Decision to establish the specific conditions under which banks may obtain and retain authorization to perform foreign payment and credit operations. Banks must demonstrate technical capability, qualified staff, and compliance with liquidity and reporting requirements, including establishing correspondent relations within 90 days. The National Bank of Serbia retains the authority to revoke this authorization if banks fail to meet these stipulated conditions, thereby replacing the previous 2004 regulations.
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