The National Bank of Serbia (NBS ) has called on the banks, ahead of the upcoming World Savings Day (31 October ) , to avoid market behavior that could cause risks to liquidity and stability of the financial system.
It is a fact that for years , banks in Savings Week , which begins on 31 October ,and lasts for seven days ,are competing for the foreign currencies of the citizens by offering high interest savings which went up to nine per cent per annum for foreign currency deposits of perennial deposit. This automatically means that interest on loans they can not be lower than this amount, which comes to citizens back like a boomerang.
” In the past year, interest rates on deposits in euros in Serbia are reduced and their level is closer to rates that are available for savings in the neighboring countries , but they are still higher than in the region”, it was said in the statement.
As an example , it is stated that the average interest rate on term deposits in euros for a period of one year ,in August last year in Serbia ,amounted to 4.3 per cent,and in the same month this year, 2.7 percent .
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In the same period last year in BIH such rates were 2.6 that is 2.3 per cent in August this year , in Romania, 3.4 that is 2.5 per cent, in Hungary, with 2.5 and 1.5 percent.
“The goal of this year's appeal of NBS it is not not achievement of the minimum interest rate on savings deposits , but their adaptation to the real possibilities by the banks,” says the NBS.
