National Bank of the Republic of Macedonia Council held its second session and discussed and approved the Financial Statements of the National Bank of the Republic of Macedonia and the Annual Account for 2015
Today, the National Bank of the Republic of Macedonia Council held its second session and discussed and approved the Financial Statements of the National Bank of the Republic of Macedonia and the Annual Account for 2015, which were audited by an independent audit company. In the opinion of the independent auditor, the Financial Statements of the National Bank of the Republic of Macedonia present fairly, in all material aspects, the financial position of the National Bank of the Republic of Macedonia as of 31 December 2015, as well as the results of its operations and cash flows for the year that ended, in accordance with the International Financial Reporting Standards (IFRS).
At today's session, the National Bank of the Republic of Macedonia Council adopted the Decision on submitting payment operations data. This Decision prescribes the requirement for submitting payment operations data, the contents, the manner and the deadlines for submission of data to the National Bank by reporting entities providing payment services and payment system operators. This decision will ensure preparation of quality payment statistics data, which will comply with the requirements of the Regulation No. 1409/2013 of the European Central Bank on payment statistics and will provide methodological and operational readiness of payment statistics of the National Bank, as a future member of the European System of Central Banks.
At today's meeting, the Council considered and adopted the Decision amending the Decision on currency exchange operations, which ensures compliance with other regulations, and also further regulates the provisions on the preparation of the report on the stated condition with the conducted oversight.
The Council also adopted a new Decision on the method and terms under which the residents other than authorized banks may open and hold accounts abroad. The Decision contains provisions that facilitate and further regulate the manner and terms for opening and holding accounts abroad, for several categories of residents: diplomatic, consular and other representative offices of the Republic of Macedonia abroad, individuals with permanent residence in the country, but residing temporarily abroad six months or more, foreign natural persons temporarily residing in the country and natural persons who at the same time have valid foreign passport.
The significant novelty is that the resident natural persons may transfer the funds from the account to the Republic of Macedonia also after the expiration of the period of validity of the residence document or document for working abroad, as well as document for acquired rights. The new decision facilitates also the collection of funds acquired abroad for which there is a legal basis for their acquisition.
At today's session, the Council also adopted a new Decision on the method of opening resident foreign currency accounts in order to comply with other legislation and facilitate the manner in which residents open foreign currency accounts. Among other things, the documentation for opening a foreign currency account is reconciled with the existing documentation provided for opening a transaction account, specifies the establishment of internal provisions that banks are obliged to adopt and which apply to foreign accounts, and allows opening one or more accounts for several currencies by one resident.
At today's session, the Council also adopted new Decision amending the Decision on the method and terms for opening and maintaining non-resident accounts. The Decision contains provisions that facilitate and further regulate the manner and terms for opening and maintaining non-resident accounts, and it is also adopted in order to comply with other legislation. Obligatory deadlines within which the bank shall perform update of the the non-resident data, and the possibility of opening one or more accounts in several currencies, including in denars, by one non-resident, are also envisaged.
At today's session, a Decision amending the Decision on the manner and terms under which residents may collect and pay in cash foreign currency in the transactions with non-residents was also adopted. This Decision shall facilitate and simplify the manner and the terms for collection and payment in cash foreign currency. The facilitation and simplification mainly refer to the documentation submitted to the domestic commercial bank.
The Council also discussed other matters within its jurisdiction.
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