ING Bank Slovakia and Československá Obchodná Banka have been conferred the status of reference banks, National Bank of Slovakia (NBS) officials announced. The NBS introduced the status of "reference bank" for the most active commercial banks on the Slovak interbank money market in August and limited the number to eight. According to NBS officials, reference banks are selected according to three criteria: the portion of traded deposits, the volume of credit lines with other commercial banks, and the maintenance of an agreed-upon exchange rate spread.
While awarding the title to ING Bank Slovakia and ČSOB, the NBS cancelled Poštová banka's (Post Bank) status as a reference bank. The other six reference banks are: Všeobecna Úverová Banka (The General Credit Bank - VÚB), Slovenská Sporiteľňa (The Slovak Savings Bank), Investična a Rozvojová Banka (Investment and Development Bank - IRB), the Austrian-owned Tatra Banka, Poľnobanka, and Istrobanka. NBS representatives said it is probable that in the next year, reference banks will be permitted trade with treasury bills, or also some money derivatives such as the Forward Rate Agreement.
