Slovak Financial Law News 2004

Amendment to Measure of the National Bank of Slovakia on Registry of Loans and Guarantees

Notification of the National Bank of Slovakia No. 322/2004 Coll. on issuance of Measure of the National Bank of Slovakia of 12 May 2004 No. 7/2004 amending the Measure of the National Bank of Slovakia of 30 May 2003 No. 2/2003 on the Register of Loans and Guarantees

The Act No. 483/2001 Coll. on Banks as amended incorporates the obligation of banks and branches of foreign banks to provide without undue delay in writing also without the client's consent to National Bank of Slovakia data on loans provided to entrepreneurs or legal entities, data on securing of their receivables from provided loans to entrepreneurs or legal entities and data on obligations accepted by the bank or a branch of a foreign bank towards entrepreneurs or legal entities in Slovak or foreign currency while the National Bank of Slovakia keeps a register of loans and guarantees on such data (``Registry'').

Measure of the National Bank of Slovakia No. 2/2003 (``Measure'') stipulates details on keeping and use of the Registry, extent and manner of notifying the data contained therein from the side of banks, extent and manner of providing information from the Registry and the manner of technical procurement of security of notified and provided data.

Brief amendment to the Measure through the measure of the National Bank of Slovakia No. 7/2004 has exclusively formally legal nature removing from the wording of the Measure such terms that concern solely natural persons non-entrepreneurs, since only data set out by the law and the Measure that concern natural persons entrepreneurs and legal entities are processed in the Registry.

Amendment to the Measure excludes from the date of its effectiveness the possibility to provide to a bank or a branch of a foreign bank, within the provision of data on natural persons entrepreneurs, information on his/her birth number.

This Measure became effective on 1 June 2004.

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