We in the National Bank have long been advocating the development of bond markets by not only the government and local government bodies, but by other issuers as well.
It is the crisis period that shows best that bankcentric systems – elsewhere and in Europe, but more poignantly in Serbia where banks account for over 90% of the financial sector – face significant challenges, such as: a) how to refinance loans due for repayment, b) how to obtain fresh capital in the market, and c) how to preserve public trust in the banking system.