08/03/2006 OHR Sarajevo

High Representative Amends Law on the Federation Banking Agency

The High Representative, Christian Schwarz-Schilling, today amended the Law on the Federation Banking Agency ( FBA) to enablethe continued functioning of the FBA Board.

Today’s Decision allows the outgoing members of the FBA management board and the outgoing FBA Director and Deputy Director to continue to act after the expiry of their term until they are replaced by Parliament.

The High Representative issued this Decision to ensure that the FBA can continue, in a smooth and efficient fashion, to safeguard the interests of BiH depositors and uphold the integrity of the banking system.