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ARTICLE · 29 APRIL 1996

Slovak News - Jan 96 - Finance

Arthur Andersen
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SlovakiaAntitrust/Competition Law
BANK LAW APPROVED

Parliament passed an amendment to the Bank Law which strengthens the control powers of the Central Bank and outlines conditions of mortgages.

CHANGE OF DISCOUNT RATE OF SLOVAK NATIONAL BANK

The Bank Council of the National Bank of Slovakia approved a decrease of the discount interest rate from 9.75% to 8.8%, valid from January 13, 1996.

FOREIGN EXCHANGE RESERVES AND LOAN POLICY OF NATIONAL BANK OF SLOVAKIA (NBS)

The foreign exchange reserves of the Slovak Republic, together with the reserves of commercial banks, exceeded the amount of 5 billion USD, being 5.005 billion USD, for the first time since the split of Czechoslovakia.

The NBS authorized liberalization of issuing approvals for medium-term and long-term loans from abroad.

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The primary authority for merger control in the Slovak Republic is the Antimonopoly Office of the Slovak Republic (the "Office"), a central state administrative body located in Bratislava. The Office’s activities in competition protection are defined by the Competition Act (see question 1.2 below) and its principal role is to intervene against the restriction of competition by, in particular, business enterprises.
SlovakiaAntitrust/Competition Law
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