Secretary General of the Association of Banks of Montenegro, Bratislav Pejaković, said that the potential danger from money laundering “does exist”, but that the banking system was capable of defending any such attempt.
“We must be aware of the fact that or market is so small and, therefore, it’s not interesting for some major transactions that are very visible in a small world. What We can read about some big banks from the developed countries is something we’re not familiar with. However, there’s a slight danger, but I think we are capable of defending ourselves”, says Pejaković.
Considering the indicators, such as deposits, liquidity, solvency, from the systemic point of view we can say that measures imposed by the Central Bank on Atlas and IBM didn’t affect work of individual banks in Montenegro, nor did it worsen the systemic indicators.
“We support every attempt to find optimal solutions for the recovery of Atlas Bank and IBM bank as soon as possible”, says Pejaković.
He reminds that deposits by client of up to €50.000 are protected.
“There are several levels of reaction and establishment of sustainability of regular operation and stability of financial position of a credit institution. Bank reserve is described in the balance sheets of the bank. Apart from quality placement of credit assets, a bank also disposes of property, and minimum reserves at the Central Bank used for maintaining the liquidity of an individual bank. What is defined as a loss and what affects the capital and solvency, doesn’t necessarily mean that it won’t be solved partially or totally, some time in the future. What seems problematic today, doesn’t have to be a loss”, says Pejaković.
