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The New Law on Credit Institutions of Montenegro and a set of Bylaws - The Decisions of the Central Bank of Montenegro will be effective as of 1 January 2022

The new regulatory rules introduce significant changes to internal business processes and systems in banking industry. The changes primarily refer to data requirements, methodologies and models, as well as to control functions at large.
The extent to which banks will be affected by new regulations may differ significantly, depending on the bank’s business model, inclusive of its products and clients.
That being the case, there is no single way of responding to new regulations. Each bank will need to consider in detail the new requirements and their potential impact on the bank, and to adapt to change in a manner that is compatible with the specifics of their business.

Our colleagues Sasa Todorovic, Nikola Stamenic, Domagoj Suskovic and Marko Stankovic ran a workshop on Implementation Challenges of Basel III, at the premises of the Association of Montenegrin Banks, on Friday, 9 July 2021. The workshop was designed to focus on major changes, and on how to meet the key regulatory expectations relating to capital adequacy management, liquidity risk management, recovery plans, and other elements of the risk management framework that go beyond regulatory rules.