Skopje, 26 May 2008
Press release of the NBRM
From May 23 to May 24, 2008 in Tirana, the 19th meeting of the Governors Club of the central banks from Central Asia, the Black Sea region and the Balkans was organized. Governors of 14 states attended the meeting. The newest global macroeconomic developments and the consequences from the crises on the international financial markets were discussed on the meeting. After the serious turbulences on the market of credits and structural products, the increase in the capacity of banks in the world for recognizing and measuring the credit risk was stated. However, this risk the banks were facing with was becoming more and more replaced by the liquidity risk. In conditions of liquidity tensions in the financial markets, the ensuring of higher efficiency in implementing the monetary policy and protection from the macroeconomic risks and risks for the financial stability were considered as large challenge for the central banks. Also, the need of higher cooperation among the central banks and the supervisory bodies on international level was stressed out, especially in the area of managing the possible crises situations.
On this session, the Governors also addressed to the latest macroeconomic developments in their respective countries, as well as to the most significant activities of their central banks.
Within this session, in order to strengthen the cooperation in the implementation of the supervisory and regulatory function, bilateral Memorandum of understanding between the National Bank of the Republic of Macedonia and the National Bank of Serbia was signed. This Memorandum precisely regulates the cooperation and the exchange of information, especially in the area of licensing, the possibility for performance of joint supervisory controls, more significant amendments to the legal framework, etc. Until now, the National Bank of the Republic of Macedonia has signed such Memorandums of understanding with the central banks of Slovenia, Russia, Bulgaria, Albania, Greece and Montenegro, with the preparations for its signing with the other central banks being underway.
Governor’s Office
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