At its Wednesday meeting chaired by the Governor, Dr Željko Rohatinski, the CNB Council discussed recent economic and monetary developments and adopted amendments to several implementation decisions. The amendments are to ease liquidity management, improve efficiency of open market operations, and ensure more regular movements in overnight rates on the interbank market.
Under the amendments, the interest rate which the central bank charges on Lombard loans has been cut from 9.5% to 7.5%, the base for calculating and maintaining reserve requirements and marginal reserve requirements now includes non-working days as well, whereas the allocation will no longer be made on a certain date (up to now, the 8th calendar day of a month) but on the second Wednesday of a month, i.e. on the days of regular CNB repo auctions.
In addition, the CNB Council gave its approval for Agrokor d.d. Zagreb to increase its stake in the share capital of Kreditna banka d.d. Zagreb from 57.15% to over 75%. Štedbanka d.d. Zagreb was given approval to appoint Christian Panjol-Tuflija as member of its management board.
