CBCG and other Regulators Cooperate in Statistical Reporting

16/02/2024

To establish regular statistical reporting of financial institutions not subject to the CBCG supervision, representatives of the CBCG’s Directorate for Monetary Policy, Monetary and Financial Statistics and Fiscal Research held working meetings with representatives of the Insurance Supervision Agency and insurance companies.

During the previous year, the CBCG started cooperation with other supervisors on the financial market of Montenegro - the Insurance Supervision Agency and Capital Market Authority to produce statistics of financial institutions not subject to the CBCG supervision - investment funds, investment fund management companies and insurance companies - for compiling and disseminating monetary statistics of other financial institutions and statistics of financial sector’s financial accounts.

Establishing statistical reporting of these financial institutions is part of the IMF recommendations obtained through the report Monetary and Financial Statistics to Improve the Monetary Statistics Coverage. Moreover, this is also a recommendation obtained through the Programme for Strengthening the Central Bank Capacities in the Western Balkans with a view to the Integration to the European System of Central Banks in developing financial account statistics.