Short-term loans may be used only by pledging short-term securities

Published: 3/12/2008

A conclusion of today's session of the CNB Council is that banks will continue to be allowed to use short-term loans by the Croatian National Bank exclusively by pledging short-term securities. It was specified at the session, by the decisions regulating the use of intraday and Lombard loans, that only T-bills issued by the Ministry of Finance, with the original maturity of up to 364 days, may be pledged as collateral. A need for such a specification has arisen following a recent issue of 728-day T-bills.
ESB Holding GmbH from Vienna was granted an approval for the acquisition of more than 75 percent of interest in initial capital of Erste & Steiermärkische Bank d.d. Rijeka. The CNB Council also consented to Hypo Alpe-Adria Bank d.d. Zagreb acquiring Slavonska banka d.d. Osijek, a decision which has not changed anything in terms of ownership, since both banks are entirely owned by Hypo Alpe-Adria-Bank International A.G. The CNB Council also gave its consent to the proposal of the supervisory board of Raiffeisen stambena štedionica d.d. Zagreb to reappoint Hans Christian Vallent for another term of office as a chairman of the management board of that housing savings bank.