Memorandum of Understanding signed between CNB, ABRS, FBA and CBBH

The Governors of the Central Banks of Bosnia and Herzegovina and the Republic of Croatia, Senad Softic, Ph.D. and Boris Vujčić, Ph.D. and Directors of Entities’ Banking Agencies Jasmin Mahmuzić, M. Sc. and Rade Rastoka signed the Memorandum of Understanding between the Croatian National Bank (CNB), the Federation of Bosnia and Herzegovina Banking Agency (FBA), the Republika Srpska Banking Agency (ABRS), and the Central Bank of Bosnia and Herzegovina (CBBH).

This Memorandum is an upgrade to the previous Agreement on Cooperation and Exchange of Information in the area of banking supervision, which was signed in 2003, and its reading is in line with the new Standards of the European Banking Agency (EBA).

In this way, conditions were met for the improvement and expansion of cooperation between the competent authorities of the Republic of Croatia and Bosnia and Herzegovina, and it was ensured that after the entry of the Republic of Croatia into the Exchange Rate Mechanism (ERM II), starting from October 1, 2020, this cooperation takes place in a consistent manner, and according to identical principles as the cooperation of the authorities of the Republic of Croatia with the relevant authorities of all other countries outside the European Monetary Union.