Crunch prompts Serbia to review reserves strategy

The National Bank of Serbia has shifted to a more conservative reserves policy in the wake of the credit crunch, Radovan Jelasic, the governor of the central bank said on Friday.

Jelasic told Central Bank News that the National Bank of Serbia had been holding its reserves in riskier, but still at least AA-rated, financial institutions until the crisis prompted the institution to transfer its assets to central bank coffers.

"Until four or five months ago we were more aggressive, ready to take

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