KRAĆI POGLED NA ODNOSE NARODNE BANKE SRBIJE SA ZAKONODAVNOM I IZVRŠNOM VLAŠĆU

Abstract

In the paper, the author at the beginning points to the position of the Privileged National Bank of Serbia, which was established by the Law on the National Bank in 1883. The greatest influence of the state power, embodied in the monarch and the royal government, was exercised through the institution of state supervision over the National Bank. The personnel influence of the monarch and the competent minister of the royal government on the occasion of the election of the governor and the strong discipline of the state supervision over the central bank were the characteristics of the time of the constitution from 1869. The dependence of the central bank on the state authorities, that is, on the extremely authoritarian executive, continued in the Yugoslav socialist federation. The central part of the paper analyzes the constitutional and legal position of the National Bank of Serbia, its goals and functions. Special attention is paid to the election of the governor. Namely, based on the legal solution from 2003, the election of the governor began and ended in the National Assembly. During 2012, there was a change since the governor was proposed by the President of the Republic for a longer term of six years. Finally, the author points out that the legal regulations concerning the organization of the National Bank of Serbia correspond to internationally accepted standards. However, the election of the governor (more broadly, the governing body), and especially the possibility of dismissal, indicates that there are not small deviations of independence in practice in relation to formal independence prescribed by the Constitution of the Republic of Serbia and the Law on the National Bank.