TABAKOVIC: I Expect Banks to Show Responsibility, They Don't Exist Without the Economy and the Citizens

The banking sector in Serbia is stable, liquid and in good shape, stated the Governor of the National Bank of Serbia, Jorgovanka Tabakovic.

The NBS supports a stable course, has enough FX reserves and expects banks to show responsibility and realize that they don't exist without the citizens, the economy and the clients, Tabakovic emphasized in her interview for Vecernje Novosti.

She said that, as part of its responsible policy, in addition to the moratorium on the repayment of various loans, the NBS was also preparing a range of measures for helping the citizens and the economy.

– They say that in times of crisis everyone shows their capability and their character. Our obligation is to maintain the achieved stability and the earned trust. The NBS has been keeping the dinar stable over a longer period of time and it is not jeopardized even in these extraordinary circumstances – Tabakovic said.

– We have enough FX reserves and they are a guarantee of stability. In late February, the total FX reserves amounted to around EUR 13.5 billion. In the past three years alone, the NBS bought FX whenever the pressures toward the strengthening of the dinar were great, thereby increasing the FX reserves to over EUR 5 billion. This has additionally strengthened the security of the domestic financial system in times like these – Tabakovic pointed out.

Narodna banka Srbije Beograd

National Bank of Serbia

NBS

Jorgovanka Tabaković

liquidity of the banking sector

FX reserves

moratorium on credits