Functions of the National Bank of Serbia

• Determines and implements the monetary and foreign exchange policies;
• Manages foreign exchange reserves;
• Determines and implements, within its scope of authority, the activities and measures aimed at maintaining and strengthening the stability of the financial system;
• Issues banknotes and coins and manages cash circulation;
• Regulates, controls and promotes smooth performance of domestic and cross-border payment transactions, in accordance with law;
• Issues and revokes operating licenses, carries out prudential supervision of bank operations and performs other activities in accordance with the law governing banks;
• Issues and revokes licenses for carrying on the insurance business, and/or authorisations for the conduct of specific activities within the insurance business, supervises such business and performs other activities in accordance with the law governing insurance;
• Issues and revokes operating and fund management licenses of voluntary pension fund management companies, supervises this business and performs other activities in accordance with the law governing voluntary pension funds;
• Issues and revokes licenses for carrying on financial leasing operations, supervises such operations and performs other activities in accordance with the law governing financial leasing;
• Issues and revokes licenses of payment institutions to provide payment services and licenses of electronic money institutions to issue electronic money, supervises the provision of payment services and the issue of electronic money and performs other activities in accordance with the law governing payment services;
• Pursues activities relating to the protection of rights and interests of the consumers of services provided by banks, financial leasing providers, insurance companies, voluntary pension fund management companies, payment service providers and electronic money issuers, in accordance with law;
• Determines whether the conditions for initiating the resolution proceedings in respect of banks and/or members of a banking group are met, conducts the resolution proceedings and decides on the resolution tools and measures to be applied, and performs other activities relating to bank resolution, in accordance with the law governing banks;
• Issues and revokes operating licenses to and from payment system operators, supervises their operations and performs other activities, in accordance with the law governing payment services;
• Issues and revokes authorisations to perform exchange operations, conducts supervision of exchange and foreign exchange operations and carries out other activities, in accordance with law;
• Performs statutory tasks for the Republic of Serbia or tasks established by contracts on behalf of the Republic of Serbia, without threatening its autonomy and independence.