Legal framework

In line with the Republic of Serbia’s strategic commitment to EU accession, the NBS drafted the Law Amending the Law on Banks, adopted by the Serbian Parliament in February 2015 and effective as of 1 April 2015. This Law harmonised the domestic legal framework with Directive 2014/59/EU on establishing a framework for the recovery and resolution of credit institutions and investment firms, thereby creating a comprehensive legal framework for bank resolution whose main goal is to minimise the use of budgetary and other public funds for the purposes of preserving financial stability.