Banking Agency of Republika Srpska signs Memorandum of Cooperation with European Banking Authority (EBA)
Banking Agency of Republika Srpska, together with the Banking Agency of the Federation of Bosnia and Herzegovina, National bank of Serbia, National bank of Macedonia, Central bank of Montenegro and Central bank of Albania signed the Memorandum of Cooperation with the European Banking Authority (EBA), establishing a framework for cooperation and information exchange.
The agreement has been reached under the auspices of the Vienna Initiative, ensuring that the EBA will continuously update these authorities on the relevant regulation developments, thus facilitating their participation in the colleges of supervisors.
The EBA will also open its regular training activities to the signatory authorities, while the signatory authorities agree to provide the EBA with information on relevant developments in their banking systems, which will be used for risk analysis purposes.
Additionally, under the agreement, these authorities will aim to bring their own regulatory and supervisory standards and institutional arrangements into line with those in the EU, according to a timetable appropriate to the conditions in individual countries.