Normative framework

Besides ZUKSB, the regulation that defines the operations and organisational structure of BAMC consists of:

  • the Decree on the implementation of measures to strengthen the stability of banks (hereinafter: the Decree)
  • the Guidelines on the operations of the Bank Assets Management Company, which govern the operations of BAMC in detail,
  • the Articles of Association of the Bank Assets Management Company, and
  • the BAMC’s Remuneration Policy, which was adopted by the Government in March 2013, and amended in July 2013 and in March 2015.

 

BAMC fully complied with the provisions of the specific regulations governing its activity.

Operations in individual areas are also defined by policies adopted or refined by the Board of Directors. In 2015 and by the end of March 2016, 17 new policy documents and seven amendments to policies were approved by the Board. The most important among them were:

  • Process and decision-making powers of the committees,
  • Corporate governance policy of BAMC,
  • Rules of procedure on the work of executive directors,
  • Risk management policy, and
  • Rules on valuation process and internal controls.