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By Alena Cernejova, Alena Cernejova
Under the Banking Act, banks and branches of foreign banks can establish a Joint Banking Register which will facilitate the preparation, conclusion and performance of clients' trades and evidence the activities of banks and branches of foreign banks.
By Alena Cernejova
Act 510/2002 on Payment Systems took effect on January 1 2003. It is the first domestic law to regulate payment transactions and was drafted to ensure compliance with EU law.
By Radoslava Janošovská
An amendment to the Banking Act came into force on January 1 2005. The amendment focuses on transborder banking business and multinational banking holdings, and implements the Directive on the Implementation of Article 67 of the Treaty (88/361/EEC). It introduces a system of consolidated banking supervision and defines, among other things, the terms 'banking consolidated group', 'financial consolidated group' and 'mixed consolidated group'. The amendment also sets out new