December 20, 2005

Press release

Statement from the 57th Meeting of the Bank Board of the NBS

The 57th Meeting of the Bank Board of the National Bank of Slovakia was held on 20 December 2005, chaired by Ivan Šramko, Governor.

The Bank Board of the NBS discussed the Situation Report on the Monetary Development of Slovakia in November 2005 and decided on maintaining its current interest rates for the overnight sterilization transactions at 2.0%, the overnight refinancing transactions at 4.0% and the limit rate for two-week repo tenders with commercial banks at 3.0%.

The Bank Board of the NBS approved the draft Decree on the analysis of the risks  connected with security of premises of banks and branch offices of foreign banks. The approval of the Decree is a result of a number of robberies in business premises of the banks in the Slovak Republic over the last months.
The Decree regulates the scope of risk analysis, which the banks and branch offices of foreign banks are obliged to develop with the aim to create better conditions for the protection of their business premises against further robberies, with special focus on closer cooperation with the police authorities.

The Bank Board of the NBS approved the Report on development of the banking sector in the Slovak Republic and the assessment of prudential undertaking in the banking sector as at 30 September 2005. The document will be published on the website of the NBS.

The Bank Board of the NBS discussed and approved the Operating Expense and  Income Budget and Investment Budget of the NBS for 2006.
The loss from the Bank´s operational activities for 2006, ensuring the operation of the bank for 2006 is calculated in the amount of SKK 1 959 million and investment expenses are calculated in the amount of SKK 656 million.

The Bank Board of the NBS approved the Decree of the National Bank of Slovakia amending the Decree No. 613/2003 Coll., stipulating the structure, scope, contents, classification, terms, form, method, procedure and place for submission of certain reported facts pursuant to Article 8 of the Foreign Exchange Act as amended by the Decree of the National Bank of Slovakia No 708/2004 Coll.

The Bank Board of the NBS pursuant to Article 6 paragraph 2 ketter d) of the Slovak National Council Act No 566/1992 Coll. on the National Bank of Slovakia as amended by subsequent regulations, approved the Decision of the NBS on stipulating the annual contributions of the supervised subjects in the financial market in 2006, which will be published in the Bulletin of the NBS.

The Bank Board of the NBS approved the Decree of the NBS defining the amount of fees for the individual acts of the National Bank of Slovakia.

The NBS approved the selection and visualization of artistic designs of the Slovak national sides of euro coins.
The coins in a nominal value of 2 euro and 1 euro will depict the „Double Cross in the middle of Three Hills“ designed by Ivan Rehak. The „Double Cross in the middle of Three Hills“ is a shield sign of the state emblem, one of the state emblems of the Slovak Republic. The „Double Cross“ is situated on the circle surface. Its background is created by a relief of rocks which express stability and strength of the State.

The coins with a nominal value of 50, 20 and 10 euro cents will depict the Bratislava Castle designed by Jan Cernaj and Pavol Karoly. The Bratislava Castle is characteristic for its dominant position above Bratislava - the capital of the Slovak Republic. It is a national monument and belongs to the best-known symbols of Bratislava and Slovakia as well. Within the castle depicted on the coins, there is a state emblem – one of the official state emblems of the Slovak Republic.

Coins in a nominal value of  5, 2 and 1 euro cents will depict the artistic design of Krivan  designed by Drahomir Zobek. The Tatra mountain peak Krivan is connected with important historic events of the Slovak nation. As an object of national outings of Sturovci [(group of Slovak intellectuals grouped around Ludovit Stur  (Ludovit Stur - writer, poet and national revivalist)] played an important role in the fight for national consciousness. Krivan is perceived as a symbol of High Tatras and also, in the broader sense, as a symbol of varied natural resources in Slovakia.

According to the Bank Board of the NBS the selected designs most aptly and appropriately represent the Slovak Republic and its European cultural and historic traditions as well as its rich natural heritage. They will also stand for the dignified representation of the Slovak Republic abroad.

Also, the selected designs were the most successful designs in the public anonymous tender on the designs of the Slovak national sides for the Slovak euro coins announced in July 2004 and, at the same time, they were given the biggest support from the public in the opinion survey in November 2005.

The coinage of euro coins with the Slovak national sides is planned for 2008, upon the EU Council Decision on the accession of the Slovak Republic to the euro area on 1 January 2009.
 

Igor Barat
Spokesman of the NBS
 
 
 
 
 
 
 
 
 
National Bank of Slovakia
Public Relations Department, Press Section
Imricha Karvasa 1, 813 25 Bratislava, Slovak Republic
Tel.: +421-2-5787 2161,+421-2-5865 2161, +421-2-5787 2166, 421-2-5865 2166
Internet: http://www.nbs.sk
Reproduction is permitted provided that the source is acknowledged.

 
 
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