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Under the Banking Act, banks and branches of foreign banks can establish a Joint Banking Register which will facilitate the preparation, conclusion and performance of clients' trades and evidence the activities of banks and branches of foreign banks.

In the Slovak consumer lending market, in addition to banks, an important role is also currently played by other providers, which are usually denominated as non-banking companies.

Over the past 20 years Slovakia has gained extensive experience in privatisation as part of the process of transferring state property into private hands. Slovakia’s privatisation backlog started shortly after the fall of the Iron Curtain, continues to the present day and, apparently, will have to be dealt with for some time to come.

Is the formal restructuring of distressed businesses a real option, or is it simply the last stop before the terminus? The SkyEurope story offers some important insights.

Slovak Banks are currently subject to legislative restrictions and consumer claims, mainly for charges and arbitration clauses.

As of January 1, 2012, the Slovak Act on Bankruptcy and Restructuring (Act No. 7/2005 Coll.) has been amended to introduce a statutory subordination of claims of related creditors (Section 95(3) of the Slovak Bankruptcy Act).

An amendment to the Banking Act came into force on January 1 2005. The amendment focuses on transborder banking business and multinational banking holdings, and implements the Directive on the Implementation of Article 67 of the Treaty (88/361/EEC). It introduces a system of consolidated banking supervision and defines, among other things, the terms 'banking consolidated group', 'financial consolidated group' and 'mixed consolidated group'. The amendment also sets out new