Decisions adopted by the Governing Board on 21 March 2007
03/21/2007 / Press release
- At today’s meeting the Governing Board of the Bank of Slovenia approved the Price Stability Report, which has replaced the half-yearly Monetary Policy Report now that Slovenia has joined the eurozone. Mitja Gaspari, Governor of the Bank of Slovenia, will present the report at a press conference to be held at 11 am on Monday, 26 March in the Bank of Slovenia conference room on the first floor of the building at Slovenska 35 in Ljubljana.
- The Governing Board passed another package of credit regulations in accordance with the new Banking Act. The Governing Board also passed the Regulation on the Holders of Qualifying Holdings in Banks and Savings Banks and the Regulation on the Diligence of Members of Management Boards and Supervisory Boards of Banks and Savings Banks in accordance with the new Banking Act. The Regulation on the Holders of Qualifying Holdings sets out in detail the criteria for assessing the eligibility of a future holder of a qualifying holding, the content of the documentation that must be enclosed in the application, and the content of notifications of qualifying holdings and the method in which they are to be sent to the Bank of Slovenia. A future qualified owner of a bank must have legal status as a capital company (a plc, a partnership limited by shares or a limited liability company). Private individuals, sole traders and private partnerships are excluded from being qualified owners. The Regulation on the Diligence of Members of Management Boards and Supervisory Boards of Banks and Savings Banks sets out detailed rules for the actions of those sitting on the management boards and supervisory boards of banks and savings banks in carrying out their duties in keeping with the relevant standards of professional diligence. There are four substantive areas, including the basic rules of diligence, additional rules of diligence for supervisory board members, and diligence for supervisory board members in using their powers under Article 73 of the Banking Act.
- The Governing Board approved the Bank of Slovenia’s audited financial statements for 2006. In the opinion of the auditor Deloitte Revizija d.o.o., the financial statements present a true and fair picture in all material aspects of the financial standing of the Bank of Slovenia as at 31 December 2006 and its income and cash flows for the year then ended in accordance with the international financial reporting standards valid in the European Union. On this basis, and in accordance with the Bank of Slovenia Act, EUR 10.4 million will be transferred to the Slovenian state budget.
- At today’s meeting the Governing Board also approved the Bank of Slovenia’s tenders for research projects, for funding postgraduate study abroad, and for undergraduate thesis prizes. As part of the bank’s promotion of research work, there will be a public tender for funding three research projects this year. The subjects covered by the tender are the limits of sustainable growth in bank loans, the rigidity of labour costs in Slovenia in adjusting to economic trends, and Slovenia’s exposure to cross-border financial crises. This year the Bank of Slovenia will also offer three funding packages for postgraduate study in economics or law at foreign universities, and prizes for undergraduate theses in economics, banking, insurance, finance and financial law. Seven prizes will be awarded. All the tenders will be published in abbreviated form in Delo, Dnevnik, Večer and Primorske novice, and in detail on the Bank of Slovenia website and on notice boards in Slovenian universities.
- The Governing Board was briefed on, and approved, a letter sent by the governor to the president and the president of the National Assembly regarding continuity of leadership for the Bank of Slovenia after 1 April 2007, should a new governor not be appointed by then.