European Central Bank approved 400,000 EUR worth of technical aid to NBS

European Central Bank has approved about 400,000 EUR today (September 1st, 2008) to the National Bank of Serbia within the scope of the technical aid project for realization of nine-month analysis of needs of NBS.

At the press conference in NBS, following the signing of the Protocol on cooperation, it was pointed out that the aim of that program was designing of the report for NBS in which the fields of work would be listed that could be additionally improved through application of new regulations or policies and through adoption of the appropriate practice or organization of training for employees during the following few years.

That report will represent a significant contribution to creation of the future strategy of NBS in regard to European system of central banks.

The analysis will include 6 different fields: control of banks, harmonization of regulations of NBS with EU legislation, liberalization of capital flow, implementation of monetary policy and foreign currency exchange rate regime, monetary, financial and balance statistics and protection of users of financial services, that is, protection of consumers.

European Union set aside 400,000 EUR from the "Community Assistance for Reconstruction, Development and Stabilization" (CARDS) program for that purpose.