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International Relations Department Belgrade, September 28 TH , 2007

NBS PROJECT PROPOSALS. International Relations Department Belgrade, September 28 TH , 2007. NATIONAL BANK OF SERBIA. Autonomous and independent institution Primary objective Maintaining Price Stability In addition , Maintaining Financial Stability

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International Relations Department Belgrade, September 28 TH , 2007

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  1. NBS PROJECT PROPOSALS International Relations DepartmentBelgrade, September 28TH, 2007

  2. NATIONAL BANK OF SERBIA • Autonomous and independent institution • Primary objective • Maintaining Price Stability • In addition, • Maintaining Financial Stability • Without prejudice to its primary objective, NBS shall support the pursuance of economic policy of the Government of the Republic of Serbia, operating in accordance with the principle of market economy

  3. THE ROLE OF NBS IN EU INTEGRATION NBS actively participates: • In the negotiations related to the signing of Stabilization and Association Agreement, in the Task forces established by the Government of the RS for: • liberalization of capital movements • contracting of financial protocol and financial services • In the work of the RS Commission for the EU accession coordination • In the institutional cooperation with the EU through the Enhanced Permanent Dialogue • All activities are carried out in strong cooperation with EU Integration Office of the Republic of Serbia

  4. EUROPEAN PARNTERSHIP • Pursuit of sustainable macroeconomic policy • Further implementation of prudent monetary policy with the appropriate exchange rate policy • Monitoring of rapid credit expansion • Further liberalization of capital movements • Restructuring and privatization of the insurance sector

  5. THE FIRST PROJECT PROPOSAL

  6. PROJECT TITLE Strengtheningofinstitutional capacities of the National Bank of Serbia through implementation of the Acquis communautaire and harmonization of the activities with European standards

  7. BENEFICIARY – NBS Bank Supervision Department  Insurance Supervision Department Pension Fund Supervision Department Legal Department International Relations Department Foreign Exchange Department Monetary System and Policy Department Research Department Center for Financial Services Consumer Protection and Market Supervision

  8. OVERALL OBJECTIVE The improvement of institutional capacities, activities and efficiency of National Bank of Serbia RESULT Successful harmonization of NBS operations with European standards and requirements of the ESCB

  9. SPECIFIC OBJECTIVES – EXPECTED RESULTS • Strengthening supervisory function 2. Harmonization of legislation under competence of NBS with EU acquis communautaire • Efficient and improved consolidated supervision in banking, insurance, pension and financial leasing sectors • Harmonized and implemented legislation

  10. SPECIFIC OBJECTIVES – EXPECTED RESULTS 3. Liberalization of capital movements 4. Improvement of FX reserve and investment risk management • Accurately defined medium-term strategy for full liberalization of capital flows and established legal and technical framework • Improved FX reserve management via modernization of software and strengthening of analytical skills

  11. SPECIFIC OBJECTIVES – EXPECTED RESULTS • Improvement of information system for efficient money trading between NBS and banks on domestic and foreign markets 6.Improvement of balance of payment statistics through efficient compilation of data on remittances • Implemented information system and ensured efficient transactions • Improved statistics for determining the impact of remittances on macroeconomic movements

  12. SPECIFIC OBJECTIVES – EXPECTED RESULTS 7. Improvement of education of financial services beneficiaries and transparency of financial services 8. Capacity building in the field of EU funds project management • Increased awareness and knowledge about financial services and efficient protection of their rights • Acquired knowledge and expertise on the EU funds project management

  13. Zoran Nišavić + 381 11 333 8282 zoran.nisavic@nbs.yu Ivana Vasić + 381 11 333 8237 ivana.vasic@nbs.yu CONTACT PERSONS

  14. THE SECOND PROJECT PROPOSAL

  15. BENEFICIARY International Relations Department International Organizations and European Union Division • Coordination of all activitiesrelatedtotheprocessofaccessiontotheEuropeanUnioninNBS • Preparation of relevant documentation and data in accordance with the priorities of the European Partnership under competence of NBS and other relevant strategic documents of RS • Coordination of activities withaviewtotheidentificationoftheneedsoftheNBSfortheuseoffundsoftheinstrumentsofpre–accessionassistance of the EU

  16. PROJECT TITLE Capacity building of the National Bank of Serbia in the area of the European integrations coordination

  17. OVERALL OBJECTIVE Strengthening of capacities and efficiency of the organizational unit responsible for the coordination of the process of EU integration within National Bank of Serbia RESULT Timely performed, efficient and smooth institutional preparation of NBS in the process of EU accession

  18. SPECIFIC OBJECTIVES – EXPECTED RESULTS 1.Capacity building • Strengtheningofinstitutionallinks with counterpart units in other central banks 3. Strengthening of infrastructural capacities • Acquired expertise: • Process, tendency and challenges on the road to EU • Functioning of relevant financial, economic and monetary EU institutions • Research, analyses and papers • Established institutional cooperation with counterpart units in central banks • Improved infrastructural capacities

  19. Nevena Petrović + 381 11 333 8291 nevena.petrovic@nbs.yu Igor Savić + 381 11 333 8284 igor.savic@nbs.yu CONTACT PERSONS

  20. THANK YOU FOR YOUR ATTENTION

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