Skopje, 24 September 2024 (MIA) – The country’s banking sector is stable and secure, which is largely due to the policies and macroprudential measures taken by the National Bank to maintain financial stability, it was concluded at a meeting of the National Bank Governor, Anita Angelovska – Bezhoska, and Jesús Saurina Salas, member of the Single Resolution Board (SRB), the European Banking Union's resolution authority, whose goal is timely to tackle issues occurring during banks’ operations and provide financial stability, said the National Bank.

The banking sector in the country, it was noted, is regulated in line with the EU’s highest standards, also noted by the European Commission’s assessments for alignment of the banking regulations and the supervision framework with the EU’s standards.  

“Solvency of the banking systems marks an improvement, and the capital adequacy ratio was recorded at 19% by the end of the first half of 2024, being the highest since 2006. The higher solvency indicators to a large extent are the result of higher regulation and supervisory requirements regarding banks’ capital, which is primarily related to the protective layers of capital and capital allowance, determined on the basis of supervisory assessment. Since the National Bank on several occasions has increased capital requirements regarding the countercyclical protective layer of capital, due to be applied in the coming period, it is expected the solvency of the banking system to keep improving,” the National Bank said in a press release.

They also discussed the bank resolution law, said the press release adding bylaws for the law’s implementation are being drafted. 

Photo: National Bank