The NBS Head Office Building was built from 1888 – 1890, on the basis of blueprints designed by Konstantin Jovanovic (Vienna 1849 – Zurich 1923), son to distinguished artist Anastas Jovanovic...
The NBS performs monetary operations against the collateral of dinar securities (not indexed to a foreign currency) issued by:
To ensure the collection of its receivables, the NBS may apply in its monetary operations an upward/downward haircut to the nominal value of securities subject to a repo transaction, and/or a downward haircut to the nominal value of securities against which banks are approved daily liquidity loans and/or short-term dinar loans.
The upward/downward haircut is determined according to the type of securities and their residual maturity taking into account the market price of securities, i.e. current market and monetary developments.
The downward/upward haircuts are set by the Decision on Determining Upward/Downward Haircut to the Nominal Value of Securities, and equal:
Type of securities | Residual maturity in days | Upward haircut |
---|---|---|
NBS T-bills | up to 371 | 0.00% |
Type of securities | Residual maturity in days | Downward haircut |
---|---|---|
NBS T-bills | up to 371 | 4.00% |
Discount securities of the Republic of Serbia and international financial organisations and international development banks or financial institutions | up to 371 | 4.00% |
Coupon securities of the Republic of Serbia and international financial organisations and international development banks or financial institutions | up to 371 | 2.00% |
372–731 | 2.00% | |
732–2,008 | 5.00% | |
over 2,008 | 10.00% | |
Bonds issued by domestic companies (corporate bonds) with the basic solvency scoring A (excellent solvency) or B (very good solvency) | up to 1,830 | 8.00% |
1,831–3,660 | 13.50% | |
Bonds issued by domestic companies (corporate bonds) with the basic solvency scoring C (good solvency) | up to 1,830 | 9.00% |
1,831–3,660 | 14.50% | |
Bonds issued by domestic companies (corporate bonds) with the basic solvency scoring D (acceptable solvency) | up to 1,830 | 10.00% |
1,831–3,660 | 16.00% |