NBS assuages savings fears
National Bank of Serbia (NBS) Governor Radovan Jelašić has assured citizens that their savings are safe.
Wednesday, 08.10.2008.
13:26
National Bank of Serbia (NBS) Governor Radovan Jelasic has assured citizens that their savings are safe. The massive financial crisis sweeping global economies has sparked fears among citizens that Serbia could soon be hit too. NBS assuages savings fears Despite expectations that Serbia will also feel the repercussions of the crisis, primarily through more expensive loans, Jelasic assures that the domestic banking sector is protected. Prior to a conference entitled “The Global Financial Crisis and its Impact on the Region and Serbia“, the NBS governor told journalists that the banking system in Serbia differed from those in other countries. “We have sufficient capital of 28 to 40 percent of mandatory reserves at the NBS. We can sleep easy,“ Jelasic stressed. He said that the level of mandatory reserves was high, between 40 and 45 percent, and that “we have a situation that of a total of EUR 5.8bn of citizens’ savings are backed by EUR 10bn in NBS reserves.“ “If the banks need money, we will simply ask them to tell us when and where they wish to take the cash, and we are at their service,“ said Jelasic. Radovan Jelasic (FoNet, archive)
NBS assuages savings fears
Despite expectations that Serbia will also feel the repercussions of the crisis, primarily through more expensive loans, Jelašić assures that the domestic banking sector is protected.Prior to a conference entitled “The Global Financial Crisis and its Impact on the Region and Serbia“, the NBS governor told journalists that the banking system in Serbia differed from those in other countries. “We have sufficient capital of 28 to 40 percent of mandatory reserves at the NBS. We can sleep easy,“ Jelašić stressed.
He said that the level of mandatory reserves was high, between 40 and 45 percent, and that “we have a situation that of a total of EUR 5.8bn of citizens’ savings are backed by EUR 10bn in NBS reserves.“
“If the banks need money, we will simply ask them to tell us when and where they wish to take the cash, and we are at their service,“ said Jelašić.
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