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Press Releases 2017 - May

25.05.2016 - Council of the CBCG held its 87th Meeting

20.05.2016 - The exhibition “New Montenegrin Commemorative Money” opened in the Money Museum

18.05.2016 - Promotion of commemorative CBCG coins on the tenth anniversary of Montenegro's independence

10.05.2016 - Information regarding the survey conducted by the Central Bank of Montenegro for the European Commission


CENTRAL BANK OF MONTENEGRO
Podgorica, 25 May 2016

Council of the CBCG held its 87th Meeting

Council of the Central Bank of Montenegro held its 87th meeting today, chaired by Governor Milojica Dakić.

The Council adopted the Governor’s Report on Operations and Pursuing the Central Bank of Montenegro Policy for March 2016, which stated that the activities of the Central Bank of Montenegro (CBCG) over this period had been carried out in accordance with the commitments laid down in the CBCG Programme for 2016. The Council analysed and assessed the impact of potential risks on financial stability concluding that the financial system is sound, and the level of systemic risk moderate.

The Council adopted the Decision Amending the Decision on Bank Reserve Requirement to Be Held with the Central Bank of Montenegro, which shortens the period in which banks may continue to hold the T-bills as part of reserve requirements after the expiration of the current year. This provides the condition for the fulfillment of the first benchmark for opening negotiations for Chapter 17 - Economic and Monetary Union.

The Council adopted the Report on Banks and MFIs operations for Q1 2016. Liquidity and solvency ratios were above the statutory level. At the end of Q1 2016, the banking system ran profit of 6.6 million euros. The Council noted the continued reduction of non-performing loans. As at Q1 2016, non-performing loans accounted for 11.99% of total loans, being lower by 80.6 million euros or 18.25% compared y-o-y. Lending interest rates continued to decrease. Compared y-o-y, the weighted average effective interest rate (WANIR) on total loans (8.32%) reduced by 0.79 percentage points, while WANIR on new loans (8.04%) also decreased by 0.90 percentage points.

The Council adopted the Report on Payment System Oversight Activities in 2015. The Report concluded that the payment system of the CBCG is sound and reliable recording high level of availability, as well as that significant activities were developed on further development and improvement of the payment system oversight and its compliance with the relevant international regulations and best practices in this field.

The Council adopted the Audit Committee Report for Q1 2016. 


CENTRAL BANK OF MONTENEGRO
Podgorica, 20 May 2016

The exhibition “New Montenegrin Commemorative Money” opened in the Money Museum

On Thursday, 19 May 2016, celebrating ten years of restoration of Montenegro’s independence and the International Museum Day, the exhibition titled “New Montenegrin Commemorative Money” was organized in cooperation with the Secondary Art School “Petar Lubarda” from Cetinje.

The pupils presented forty pieces made in different techniques: painting, graphic, digital and sculpturing. They have creatively linked traditional and contemporary values, according to already adopted standards in designing metal coins, presenting famous Montenegrin personality and contemporaries who have incorporated their work into the historical and cultural map of Montenegro on the obverse, and the recognised prominent state symbols, and recognizable brands of modern Montenegro on the reverse.

The following pupils received the award:

  • Milan Medić - 1st prize
  • Lazar Lekić - 2nd prize
  • Vuk Šćepanović - 3rd prize


CENTRAL BANK OF MONTENEGRO
Podgorica, 18 May 2016

Promotion of commemorative CBCG coins on the tenth anniversary of Montenegro's independence

On the tenth anniversary of Montenegro's independence, the Central Bank of Montenegro (CBCG) issued commemorative – golden and silver – coins.

Pursuant to the CBCG Law, the CBCG is not an issuing bank. It may issue commemorative banknotes and coins that do not represent the means of payment.

The Commission comprising of eminent historians, art historians, and the experts of the CBCG defined the elements to be included in the proposal for creation of commemorative coins on the tenth anniversary of restoring Montenegro’s independence. Consequently, the Commission has accepted the design of the academic sculptor Milivoje Babovic, MA, the professor at the Faculty of Fine Arts in Cetinje. The approved design has the following characteristics:

The front side (obverse) of golden and silver coins contains the image of present territory of Montenegro in the central part, with the stylized image of the sea in the bottom part. The edge contains a Latin text “10 godina obnove nezavisnosti Crne Gore”, while commemorative years 2006-2016 are in the down part of the coin, below the image of the sea.

The back (reverse) side contains Latin text “Da je vječna Crna Gora” in the upper part, Montenegro’s coat of arms in the central part, and the denominations designations of the coin in the down part, i.e. 10 Perpers (for golden coins) and 1 Perper (for silver coins). The golden and silver coins are edged with ridges.

The golden coin weighs 8 grams, and its diameter is 24 millimetres. It is made of gold alloy with the fineness of 900/1000.

The silver coin weighs 17 grams, and its diameter is 34 millimetres. It is made of silver alloy with the fineness of 925/1000.

Both coins are made in specific “proof” technique with high-gloss flat surfaces and mate relief details.

Each sample of commemorative coins is accompanied with the appropriate certificate in Montenegrin and English language, as a constituent part of the collection.

The commemorative coins were minted in the Institute for Manufacturing Banknotes and Coins Belgrade, in the following quantities: golden coin – 200 pieces, silver coin – 500 pieces, packed into collection-boxes: golden coins – 50 pieces, silver coins – 250 pieces, and the collection a golden and a silver coin – 50 pieces.

By minting commemorative gold and silver coins, the CBCG gives its contribution to celebrating ten years of restoration of Montenegro’s independence, as one of the most important dates in the overall Montenegrin history.

The CBCG will continue to participate adequately in the celebration of the most important events in the history of our country in the upcoming period.


CENTRAL BANK OF MONTENEGRO
Podgorica, 10 May 2016

Information regarding the survey conducted by the Central Bank of Montenegro for the European Commission

As of May 2016, the Central Bank of Montenegro (CBCG) will perform monthly surveys of companies registered for trade, construction and industry activities for the purposes of the European Commission and for the purpose of our own research. It will also survey companies from the construction and industry activities on quarterly basis, while companies from trade, construction, industry, transport, tourism, and agriculture activity will be surveyed on semi-annual basis. The CBCG will collect, process, and send the results of the surveys to the European Commission.

The CBCG surveys are qualitative and do not contain questions requiring answers that would reveal confidential information from companies’ operations. The findings of surveys will result in receiving a rapid and accurate insight into Montenegrin corporate sector’s opinion on the state of the economy, and on the expectations of short-term trends in the economy.

The CBCG will benefit from the companies’ opinion for the analysis of macroeconomic trends in the country with a view to preserving financial stability. The European Commission will use the opinion for creating indicators that reflect overall perceptions and expectations at the level of individual activities (Confidence Indicator), as well as for indicators summarizing developments in all surveyed activities and allowing the monitoring of country’s overall economic activity (Economic Sentiment Indicator).

The Participation of Montenegro in the above study provides the comparability of the business cycle in the country with business cycles of the EU Member States’ and of candidate countries for EU membership.

We hereby ask selected companies to take part in surveys, that are short and do not take much time. All responses will be treated strictly confidential and they will be used for statistical purposes only.

 

 

 

 

 

 

 

 

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