Bankruptcy and the regulatory role of the Central Bank in the legislation of Republic of Serbia

THE success of achieving the goals of the state economic policy, maintaining the stability of the banking system and protecting the interests of all participants in the financial market are the basis of the central bank’s policy based on its regulatory and control functions. The aforementioned functions are apparently manifested in the issuance of a work license to a bank, then in the active control over any member of the bank group in which the bank is located, including an inspection of the ledger and other documentation of legal entities connected with the bank being controlled through their property, management and business relationships. There is also an adequate control of the bank on a consolidated basis, as well as the existence of both internal audits and external auditors, in addition to prescribing a range of corrective and enforceable measures against the bank. The existence of the lex specialis, which regulates the bankruptcy of banks including the continuous improvement of previously mentioned provisions, represents the necessity as well as the intent of the legislator precisely because of the macroeconomic stability of the domestic economy, which is the author’s research subject in this paper.