This section is aimed at banks and savings banks established in Slovenia, and branches of foreign banks in Slovenia (hereinafter: banks). It clarifies operating procedures in monetary policy implementation. It also contains additional information on monetary policy implementation of relevance to banks that are eligible counterparties for monetary policy operations.
The Bank of Slovenia is responsible for the execution of monetary policy instruments with banks in Slovenia. The Bank of Slovenia’s legal basis for monetary policy implementation are set out by the General terms and conditions on the implementation of the monetary policy framework. The latter implement the ECB guidelines and decisions on the implementation of Eurosystem monetary policy framework, and also includes certain national specifics.
In addition to the eligibility criteria for access to monetary policy operations that apply in the Eurosystem, the Bank of Slovenia also requires Slovenian banks to have a settlement account open in the TARGET2 system, and to sign an agreement with the Bank of Slovenia on accession to the General terms and conditions on the implementation of the monetary policy framework. The accession agreement commits the bank to respect the rules and procedures set out by the general terms and conditions.