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On July 3, 2026, the Council of the Central Bank of Montenegro (CBCG), chaired by Governor Irena Radović, held a session confirming that the CBCG and the banking sector have completed all key infrastructure, technical, and operational activities required to launch the national instant payment system—TIPS Clone—scheduled to become operational on July 20, 2026. The TIPS Clone system represents the next phase of payment modernisation following Montenegro's accession to the Single Euro Payments Area (SEPA) in October 2025, which enabled citizens and businesses to make cross-border payments under the same rules as individuals and companies in the European Union. The instant payments system will make domestic payments faster and more cost-effective. However, the CBCG emphasised that completion of the legislative procedure is necessary, specifically the adoption of the Law Amending the Payment System Law, which was before Parliament at the time of the Council meeting. The Council also adopted two draft laws aligned with European Union banking regulations. The Draft Law Amending the Law on Credit Institutions refines provisions governing credit institution operations by aligning them with the latest EU banking regulatory package (CRD VI and CRR III) and requirements underpinning the Single Supervisory Mechanism and European Central Bank's close cooperation framework. The Draft Law Amending the Law on Resolution of Credit Institutions further aligns legislation with EU acquis in bank resolution, particularly regarding the Single Resolution Mechanism and Single Resolution Fund. Application of provisions relating to the future regime upon Montenegro's accession to the Single Resolution Mechanism has been deferred to ensure uninterrupted application of the existing national resolution framework. Additionally, the Council maintained the countercyclical capital buffer rate at 1 percent, following its regular assessment of systemic risks. REFERENCES: Central Bank of Montenegro. "CBCG Council Meeting: Infrastructure in Place for Introducing Instant Payments on 20 July." Press Release, July 3, 2026. https://www.cbcg.me/en/news/cbcg-council-meeting-infrastructure-place-introducing-instant-payments-20-july