I cannot speak highly enough of the role that you Dr. Èièin-Šain and others played and the Croatian nation is in your debt. When our country became independent of the United Kingdom in 1922, we had the distinct advantage that there was already a well-developed banking system. Given the upheavals of the years following independence, a cautious approach was taken.
As for interest rates on term instruments, Euro-yen transactions, TB and FB rates maturing beyond the year-end are rising somewhat. The Japan premium remains negligible. Yields on long-term government bonds have been on a downward trend since mid-October, having decreased to around 1.55 percent temporarily, and are recently moving around 1.65 percent.