Agreement on Understanding and Collaboration in the Field of the Supervision of Bank Operation Signed

Governor of the Central Bank of Bosnia and Herzegovina Peter Nicholl, directors of the Banking Agency of Federation BH and Republika Srpska Zlatko Barš and Dušanka Novaković signed today in Sarajevo Agreement on understanding and collaboration in the field of the supervision of bank operation which was previously signed by Governor of the Croatian National Bank Željko Rohatinski.

Parties express their willingness for collaboration in the field of the supervision of the banks operating in Republic of Croatia and Bosnia and Herzegovina.

The aim of this Agreement is the collaboration of the parties in supervision of transfrontier branches of the banks with their head offices in Republic of Croatia or in BH in order to facilitate more efficient consolidated supervision of the banks operating outside the States of their head offices.

Authorized parties will exchange all the information which facilitates efficient supervision of the banks.

Exchange of information shall include contacts needed for the procedure of issuing of the operating licenses, the procedure of approval for the participation in the share capital of the financial institutions, procedure of appointment of the president and members of the managing boards of the financial institutions, as well as in the procedures conducted in order to eliminate violations, irregularities and difficulties in operation of the banks.

Agreement became valid on the day of signing.

Such Agreement was signed two years ago with the Bank of Slovenia. Agreements with Supervisory' authorities in other countries including Austria, Turkey, Italy and Serbia should also be signed in the near time.