The Central Bank of Montenegro Council has determined a draft law amending the Law on Credit Institutions to keep Montenegro’s banking framework aligned with major EU financial services reforms due to apply in the EU from 11 January 2026. The draft incorporates requirements on digital operational resilience under the Digital Operational Resilience Act (DORA) package, the Markets in Crypto-Assets Regulation (MiCA), and final standards on capital requirements and risk management under the Capital Requirements Directive VI (CRD 6) and Capital Requirements Regulation III (CRR 3) package. The proposed changes include strengthened risk management requirements, with specific emphasis on concentration risk from exposures to central counterparties and on ESG risk. It would expand the scope of activities that credit institutions may perform in areas linked to e-money, cryptocurrencies and property-related tokens, introduce a new requirement for acquisitions or disposals of a “material share” defined as at least 15% of the acquirer’s recognised capital, enhance fitness and propriety assessments for management body members and certain key function holders, and tighten information and communication technology requirements. Separately, the Council adopted a decision setting closer conditions for providing financial support within groups of credit institutions and amended its decision on managing outsourcing-related risks. The Council also supported the Central Bank of Montenegro’s initiative to join the ECB-led Operational Security Situational Awareness Teleconference (OSSAT) platform to exchange information and strengthen cyber resilience, alongside adopting a set of periodic reports and amending the decision on the tariff used to calculate fees for central bank services.
Central Bank of Montenegro 2025-09-30
Central Bank of Montenegro advances draft amendments to the credit institutions law aligning with EU DORA MiCA and CRD 6 CRR 3 packages
The Central Bank of Montenegro Council has drafted amendments to the Law on Credit Institutions to align with upcoming EU financial reforms, incorporating digital operational resilience, crypto-assets regulation, and capital requirements standards. Key changes include enhanced risk management, expanded activities for credit institutions, and stricter requirements for management assessments and ICT. The Council also endorsed joining the ECB-led OSSAT platform to bolster cyber resilience and made decisions on financial support within credit institution groups and outsourcing risk management.