National Bank of the Republic of Macedonia

11/17/2023 | Press release | Archived content

Preparatory activities for the application of the new Bank Resolution Law in cooperation with the Croatian National Bank

Skopje, 17 November 2023

Activities aimed at establishing a framework for bank resolution and implementation of the authorizations specified in the Bank Resolution Law were discussed at the working meetings within the successful cooperation between our central bank and the Croatian National Bank. The meetings are part of the activities for strengthening of the capacities of Western Balkans central banks, included in the second phase of the EU funded Regional program.

Representatives of the National Bank, Milica Arnaudova Stojanovska, advisor to the Governor and Frosina Celeska, Director of the Banking Regulations and Resolution Department, held meetings with the employees in the credit institutions recovery Agency. Moreover, they had the opportunity to get acquainted with the way in which the Croatian National Bank, as an authority, implements the resolution function, as well as with the participation of the Croatian National Bank in the Single resolution mechanism for credit institution resolution established in the EU. Special emphasis was placed on the core features of resolution planning, which includes the ways of determining the resolution strategy, the required rate of own funds and approved liabilities and assessing the possibility for bank resolution. The Croatian National Bank also shared its experience in using the resolution instruments which may be used by the resolution authority.

The acquired knowledge from the meeting with the experts from the Croatian National Bank, that wholeheartedly shared their knowledge, experience and established practices, is of great importance to the National Bank in the process of implementation of the preparatory activities for the implementation of the new Bank Resolution Law, which will start to apply from October 2025.