September 20 (SeeNews) - Serbia's central bank said it signed a cooperation agreement with the European Union's Single Resolution Board (SRB) to coordinate the resolution of financial institutions operating in the Balkan country.
With the agreement, the two institutions reaffirmed their commitment to further improving mutual communication and cooperation toward enhancing and facilitating the resolvability of banks and safeguarding financial stability in case of crisis, the central bank said in a statement on Wednesday.
The Serbian central bank is responsible for planning, initiating and implementing the resolution of banks with a view to protecting the public interest in crisis situations.
The SRB was launched in January 2015 as a resolution authority for around 143 significant banking groups as well as any cross-border banking group established within participating member states.