The Government today determined the text of the Draft Law on Amending the Law on Institutions, which is in accordance to the Plan for Anti-Corruption and anticipates establishment of a merit procedure for selection and appointment of members of management and supervisory boards in public institutions, introducing transparency in the procedure of application and selection, as well as reduction of the number of members of management and supervisory boards of public institutions.

At the proposal of the Ministry of Finance, as indicated by the government press service, today the text was determined of the Draft Law on Financial Stability for contributing to maintaining the stability of the financial system overall, to preventing and to reducing the accumulating of systematic risks, to strengthen the resilience of the system, to provide sustainable contribution of the financial system towards economic growth and to achieve harmonization with Regulation (EU) No.1092/2010 for macro-prudential oversight of the financial system of the European Union and creation of a European Systematic Risk Board.

– The Law, the adoption of which is proposed, should provide stability of the financial system and greater security and equality of financial entities, is said in the statement.

Translation: N. Cvetkovska