BANK LAW APPROVED
Parliament passed an amendment to the Bank Law which strengthens the control powers of the Central Bank and outlines conditions of mortgages.
CHANGE OF DISCOUNT RATE OF SLOVAK NATIONAL BANK
The Bank Council of the National Bank of Slovakia approved a decrease of the discount interest rate from 9.75% to 8.8%, valid from January 13, 1996.
FOREIGN EXCHANGE RESERVES AND LOAN POLICY OF NATIONAL BANK OF SLOVAKIA (NBS)
The foreign exchange reserves of the Slovak Republic, together with the reserves of commercial banks, exceeded the amount of 5 billion USD, being 5.005 billion USD, for the first time since the split of Czechoslovakia.
The NBS authorized liberalization of issuing approvals for medium-term and long-term loans from abroad.
VUB CHANGES INTEREST RATES.
Related to the decrease of the discount rate of the NBS, one of the most important Slovak banks, VUB, lowered its basic interest rate by 1%, while interest on deposits were lowered by 0.12 - 1.00%.
The content of this article is intended to provide a general guide to the subject matter. It is therefore not a substitute for specialist advice.
For further information contact Richard Fletcher, Arthur Andersen, Prague, Tel +42 2 2440 1300, or enter a text search 'Arthur Andersen' and 'Business Monitor'.
See More Popular Content From