GOVT REPRESENTATIVE PRESENTS FINAL BILL ON BANKS

ZAGREB, Dec 3 (Hina) - The Sabor's House of Representatives on Thursday continued its session with a discussion on a final bill on banks, which is in the third reading. The new law on banks is aimed at giving the banking system safe foundations, Assistant Finance Minister Ivan Vrljic said presenting the Government's bill. The purpose of the bill is to enhance Croatian National Bank control over commercial banks, and enable it to prevent and act quickly in cases when banks fall into troubles. These measures are aimed at protecting depositors, clients, and share-holders, Vrljic added. Stricter regulations for access to the banking market, as well as internal control and review, should help increase the quality and safety of the banking system. Increasing the capital stock is aimed at enlarging banks, especially savings banks, he added. Some objections from the second reading were taken into account resulting in the dropping of certain regulations off the bill. One of those regulations stipulated that members of a bank's administration and supervising board should be held liable, with their own property, for the bank's business operations, while another obligated banks to enter the Zagreb Stock Exchange within a certain period of time. Two parliamentary committees - for legislation, and for finances and state budget - supported the bill, presenting about 50 amendments. (hina) jn rml