At today's session, the Council adopted three decisions concerning the conditions and manner of supply, replacement and authentication of banknotes and coins
Today, the National Bank of the Republic of Macedonia Council held its eighth session.
At today's session, the Council adopted three decisions concerning the conditions and manner of supply, replacement and authentication of banknotes and coins. These decisions are changing the concept of supplying cash, where, beside the current participants in the cycle of movement of cash - banks, there is a possibility of involving other legal entities, cash centers, as an additional link in the chain of cash distribution and handling. This amendment to the regulation actually implies decentralization of the current model of supplying cash, now allowing inclusion of the non-banking sector in the process of supplying cash and encouraging and creating competitive conditions in the market for providing cash services.
The Decision on the manner and conditions for the replacement of banknotes and coins that have become unfit for circulation prescribes the criteria for identifying and selecting the banknotes and coins and application of an established procedure for replacing the money identified as unsuitable for circulation, during their processing by the participants in the reorganized model of supplying cash. With the new Decision on checking the authenticity and appropriateness, conditions and manner of return of banknotes and coins in circulation, cash centers receive equal treatment with banks in all segments of cash operations. Namely, the Decision prescribes and establishes uniform standards and quality criteria of money in circulation, defines the method of checking their authenticity, and prescribes universal criteria for classification of banknotes and coins that are fit and unfit for circulation during their mechanical and manual processing. The Decision is also part of the Project for coordination, convergence and harmonization of national with the EU legislation and gradual introduction of European criteria and quality standards for handling money. The new package of regulations in the area of cash operations has direct implications for the adoption of the Decision amending the Decision on the single tariff of fees for services rendered by the National Bank of the Republic of Macedonia in the part that regulates the obligation to pay compensation for issued cash to banks and cash centers, as direct participants in the reorganized system of cash operations.
The Council also adopted the Program for research activities in the period 2016-2018. Research planned for the three-year period should support the decision process, contribute to the better functioning of the National Bank and facing future challenges. Furthermore, the planned research and analysis should contribute to further modernize the operations of the National Bank and prepare for future participation in the European System of Central Banks (ESCB).
At today's session, the National Bank of the Republic of Macedonia Council, based on the planned schedule and pace of activities, adopted the Decision on issuing and the Decision on putting into circulation the collector coin "Vladimir" from the "Angel's Day" series. The coin will be issued in a denomination of 100 denars, in 5000 pieces.
The Council also discussed other matters within its jurisdiction.
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