Summary

The new Credit Institutions Act enters into force on 1 July 1999. The new Act regulates in greater detail the activities of credit institutions through duties, prohibitions and orders imposed by public administration, and specifies the scope of discretion and the bases for exercising banking supervision.
The author dwells on the reasons for the adoption of the new Act, its objectives and underlying principles. Further, the author examines the classification of credit institutions, their management and structure, activity licences, merger, reliability, accounting and reporting, and supervision. The author focuses on the most significant amendments introduced by the Act.