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Sunday, April 21, 2024
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Montenegro, There is no fear of a crisis in the banking system

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The crisis in several global banks will not affect the banking system in Montenegro, announced the Secretary General of the Association of Banks (UBCG), Bratislav Pejaković.

He was a guest on the TVCG morning program and said that they did not have business relations with banks in the United States of America (USA) and Switzerland, which are in crisis, so there is no danger of a direct impact on our banking system.

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– We did not have business relations with these banks, so there is no danger of a direct impact of the crisis on our banking system – said Pejaković.

He explained that in every business, even banking, there are cycles of ups and downs, but what happened in the USA is a bit unusual, RTCG reports.

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– Some regulations were not respected and tied most of the activities to the AI industry. Both in the case of American banks and in the case of Credit Suisse, we had a quick reaction from the world’s banks, which took coordinated measures – said Pejaković.

As he stated, the Swiss central bank has injected over 50 billion francs into Credit Suisse, and the banks in the USA that have succumbed already have others that will take them over.

– Banking ten years ago and today are two worlds, but the crisis of 2008 can hardly be repeated, because a system of mutual cooperation between banks has been established – reminded Pejaković.

He stated that the European Central Bank has also introduced rehabilitation funds, and we also have that, because we are aligned with EU regulations.

– We have a Deposit Insurance Fund, which is now at 50,000 EUR, and will soon be increased to 100,000. We also have a recovery fund, so that a possible problem in one of our banks would be solved without it being the burden of the budget users – explained Pejaković.

Those funds, he concluded, are being filled by commercial banks, so there is no room for panic.

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