CNB Board meeting - change to the organizational structure

At its meeting today the Bank Board decided to merge the CNB's Banking Regulation Department and Banking Supervision Department. The post of executive director of this newly established Banking Regulation and Supervision Department will be filled on the basis of an external recruitment procedure to be called at the beginning of March 2004.

The main arguments for the merger were:

unified management of banking supervision and banking regulation in the CNB;
increased synergy and efficiency of activities relating to regulation and supervision of banks;
optimal use of the capacity and potential of banking regulatory and supervisory organisational units.

The Bank Board also decided to restructure the Monetary and Statistics Department. This restructuring is connected primarily with changes in the forecasting process and preparation of background documents for monetary-policy decision-making. The Board decided to establish the following four new divisions in place of the existing five:

Monetary Policy and Strategy Division
Macroeconomic Forecasting Division
Fiscal and Structural Analyses Division
External Economic Relations Division

Pavlína Bolfová, CNB Spokesperson