The Decisions adopted by the Governing Board on the occasion of its 290th regular meeting on 20th May 2004

The Decisions adopted by the Governing Board on the occasion of its 290th regular meeting:

On its 290th Session, the Governing Board of the Bank of Slovenia inter alia abolished additional conditions for cross-border payment transactions, otherwise stipulated in the Decision on the Conditions for and Method of Carrying out Cross-Border Payment Operations, as the Payment Operations Act and other regulations fully and in a harmonised manner also govern cross-border payment operations. Due to the modification of the above-mentioned Decision, the Decision on Obligatory Reporting on Cross-Border Operations was supplemented by requiring the beneficiary of a payment transaction - a resident - to report his bank the correct data for its statistical purposes within three business days since the receipt of the payment transaction.

Also, the Governing Board of the Bank of Slovenia modified the Decision on the Conditions for Making Foreign-Currency Credit Arrangements between Residents on its Session held today. The modification makes it permissible for the Slovene Export Company to grant residents foreign-currency credits in accordance with its business policy for financing their export preparation without demanding these funds to be used in a cross-border payment transaction, as required so far.

The Governing Board of the Bank of Slovenia also adopted the Decision on Reporting the Effective Interest Rates of Banks and Savings Banks in compliance with the Consumer Credits´ Act, and the Decision on Reporting of Branches of EU-Member States´ Banks. It is an issue of reporting introduced by a modified Consumer Credits´ Act. The Bank of Slovenia has to release the average effective interest rates for particular maturities and amounts of credits twice a year, applied by banks in conformity with the Banking Act. The obligation of reporting has also been extended to branches of EU-Member States´ Banks, which grant consumer credits in the territory of the Republic of Slovenia; therefore, the Decision on Reporting of Branches of EU-Member States´ Banks is being modified accordingly. Should a branch of an EU-Member States´ bank have agents for making credit arrangements in the territory of the Republic of Slovenia, it will be obliged to report on them in the same way as domestic banks.

The Members of the Governing Board of the Bank of Slovenia adopted the Decision on Additional Minting of Golden and Silver Coins Put into Circulation on the 1000th Commemoration since Bled was Mentioned in Writing for the First Time. Due to much interest of the public taken therein, the Bank of Slovenia proposed to the Ministry of Finance further to the proposal of the BoS Commemorative Coins´ Expert Group additional minting of 500 golden coins with a face value of SIT25,000 and 1,000 silver coins with a face value of SIT5,000. These commemorative coins will be on sale from 7 June 2004 onwards.