Croatian National Bank (HNB) Accepts High Administrative Court Ruling

hnb24 October 2016, VG Intelligence Weekly Issue 27

In February 2016, the Association Franak sent a request to the HNB to obtain information on possible irregularities carried out by banks during the implementation of the Swiss Franc (CHF)-loan conversion. The HNB provided the requested information, answering only 2 of 5 questions posed by Franak, stating that the information requested by the 3 questions is considered confidential and, therefore, cannot be revealed. The Franak had filed a complaint to Information Commissioner Ana Musa. The commissioner adopted a decision on 18 July 2016, ordering the HNB to make the requested information public (see VGIW 18). Since the HNB had the right to challenge the decision before the High Administrative Court of Croatia, the HNB filed a complaint. On 18 October, the HNB received the Court ruling, refuting their complaint. Thus, the HNB is obliged to publish the requested information. However, this is a very delicate situation since the Credit Institutions Act, the HNB Act, and Credit Consumer Act protect the confidentiality of such information. Additionally, this is the first case where the court ruling obliges the HNB to publish such information, protecting the public interest. On 19 October, the HNB published a press release, stating that they would act in accordance with the court’s ruling…

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