Croatia plans to join the ERM-II and the Banking Union in mid-2020 and its finance minister has already set out the details of the intended accession in a letter of intent sent to the Eurogroup, the ECB and the finance ministers of the Eurozone. This planned move to closer cooperation between the Croatian National Bank and the ECB will mark a change in supervisory culture. The ECB on its part published a legal opinion on amendments to the Law on Credit Institutions and announced that it would launch a Comprehensive Assessment comprised of an asset quality review and a stress test of five Croatian Banks in September 2019. This Briefing presents an analysis of the current situation as well as an outlook of what is to come.
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