CBCG Council Meeting: New Step Towards Full Compliance with European Banking Rules

15/09/2026

The Council of the Central Bank of Montenegro held a meeting today, chaired by Governor Dr Irena Radović.

The meeting focused on the further alignment of the regulatory framework governing the operations of credit institutions with the EU acquis and the standards of the European Banking Authority (EBA), as part of the CBCG's ongoing preparations for future membership of the European System of Central Banks (ESCB).

The Council adopted a package of secondary legislation further enhancing the rules governing prudential requirements, corporate governance, remuneration policies, the assessment of the eligibility of members of management bodies and key function holders, as well as public disclosure by credit institutions. These regulatory amendments continue the alignment of Montenegro's domestic regulatory framework with the requirements of CRD VI and CRR3, as well as with the relevant EBA guidelines.

The package comprises the Decision Supplementing the Decision on Public Disclosure of Information by a Credit Institution, the Decision on Applying the Structural Systemic Risk Buffer, the Decision Amending the Decision on Remuneration in Credit Institutions, the Decision Amending the Decision on Governance Arrangements in Credit Institutions, and the Decision Amending the Decision on More Detailed Requirements for Selection and Appointment of Members of the Management Bodies and Holders of Key Functions in a Credit Institution.

These acts were prepared in accordance with the powers conferred by the Law Amending the Law on Credit Institutions, which entered into force this February, and represent an important step towards further completing the regulatory framework for banking supervision.

At today's meeting, the Council also adopted the Decision on the Credit Registry, which has been aligned with best practices, thereby further enhancing the Registry's functionality and accessibility. The Decision regulates the types of data and information to be submitted to the CBCG, the manner and deadlines for their submission, as well as the conditions and procedures for using data from the Credit Registry.

With a view to fulfilling the obligations laid down in the Law on Bankruptcy and Liquidation of Banks, the Council adopted the Decision on the Manner of Preparing a Voluntary Liquidation Plan and on Reporting to the Central Bank of Montenegro on the Progress of Voluntary Liquidation. This regulation sets out in greater detail the manner and conditions under which a bank intending to cease operations is required to prepare a voluntary liquidation plan, as well as the content of reports on the progress of the procedure to be submitted to the CBCG.

The regulatory framework has also been further adjusted to the new Classification of Economic Activities. In accordance with the Law on the Classification of Economic Activities and the Regulation on the Classification of Economic Activities - KD 2025, the Council adopted the Decision Amending the Decision on Statistical Data to be Submitted to the Central Bank of Montenegro for the Purpose of Compiling Balance of Payments of Montenegro.

At today's meeting, the Council also discussed and adopted other materials under its remit.