This paper presents a set of measures and instruments which National Bank of Serbia has taken to prevent or at least ease the effects of global financial crisis on national financial system and support confidence in Serbian banking sector during the last two years. It describes the main drivers...

The Single Euro Payments Area (SEPA) initiative aims to establish a single market for retail payments in euro, for which major progress has been made. Understanding the effects of financial innovation and new payment media on the demand for money is very important in this context. The aim of...

This paper aims to address key issues in maintaining financial stability in the SEE economies and define the role of macroprudential policy in the overall policy framework. The massive inflow of foreign capital that made the boom years possible is now the source of a very large problem for the...

This paper aims to address key issues in maintaining financial system integration of Serbia in the European financial system, through inevitable structural changes in financial sector. The primary task of the NBS's policy in the previous years was to regulate the inflow of capital into the...