Central Banking

Czech Senate pass amended Banks Act, Payments Act

CZECH REPUBLIC - The Senate on Wednesday passed the amended Banks Act abolishing the possibility of anonymous deposits, among other things.

To become effective the Act still has to be signed by the President.

The amendment to the Banks Act gave rise to heated debate on the access of banks to sensitive information about clients.

These provisions are opposed by the Office for the Protection of Personal Data (UOOU) which is demanding that they be changed. Senators for the Social Democratic Party CS