The Decisions adopted by the Governing Board on the occasion of its 295th regular meeting on 2nd September 2004
The Decisions adopted by the Governing Board on the occasion of its 295th regular meeting:
- In its session held today, the Governing Board of the Bank of Slovenia dealt with a claim of »Nova Kreditna banka Maribor d.d.« /New Maribor´s Bank of Lending, Joint-Stock Bank/ (hereinafter: NKBM) for issuing a licence to acquire a qualifying holding in the equity capital of »Poštna banka d.d.« /Postal Services Bank, Joint-Stock Bank/ (hereinafter: PBS) and for increasing core capital through real investment.The Governing Board of the Bank of Slovenia adopted the approved Decision on issuing a licence to unify NKBM and PBS on condition that the Shareholders´ Agreement between NKBM and PBS, and the Memorandum of Understanding between PBS and »Pošta Slovenije« /Slovenia´s Postal Services/ are amended accordingly.The Bank of Slovenia is going to issue the Decree once evidence has been produced to the central bank, proving the observance of the comments of the Governing Board of the Bank of Slovenia with reference to the above-mentioned Shareholders´ Agreement and the above-mentioned Memorandum of Understanding.
- In its 295th session, the Governing Board of the Bank of Slovenia inter alia adopted the Decision on Minimum Reserves for the purpose of introducing a new partial adjustment to the minimum reserve system of the European Central Bank. According to the new Decision adopted,
- potential issuers of e-money are also included among institutions subject to reserve requirements,
- the provision concerning the intra-day fulfilment of 50% of minimum reserve requirements is removed, thus making institutions subject to reserve requirements more flexible in reacting to liquidity conditions , which is going to lead to more stable interest rates in the inter-bank money market,
- the liability to maintain reserve requirements is regulated in a case of a bankruptcy/liquidation or a merger/division of an institution subjects to reserve requirements,
- a reserve ratio of 0% is applied to all repos concluded in compliance with the Act on Financial Collateral Arrangements in force.
The Decision shall take effect on the following day after being published in the Official Gazette of the Republic of Slovenia and it shall be applied for the first time in the November maintenance period.
- In the session held today, the members of the Governing Board of the Bank of Slovenia were acquainted with an analysis of the impacts of the new Agreement on Capital Requirements, determining, pursuant to the results of a query, the level of banks´ readiness for introducing the new Basel standards.
- The members of the Governing Board of the Bank of Slovenia were also acquainted with the activities of the Ministry of Finance of the Republic of Slovenia and the Bank of Slovenia in the development of both the Government debt securities´ market and repo market. Following new legislation in the field of financial collateral arrangements, the Governing Board of the Bank of Slovenia removes the Rules for repo transactions on the wholesale money market.