Assistance to the National Bank of North Macedonia on operationalisation of transfer tools in bank resolution

Overview
Project Summary Document

TCRS 21974

Status Approved

Location

North Macedonia

Business Sector

Financial Institutions

Notice Type

Public

PSD Disclosed

24 Jul 2025

Project Description

TCRS 21974

Status Approved

Location

North Macedonia

Business Sector

Financial Institutions

Notice Type

Public

PSD Disclosed

24 Jul 2025

Project Description

The global financial crisis of 2008–2009 exposed significant weaknesses in both regulatory frameworks and the operational capacities of authorities responsible for resolving ‘too-big-to-fail’ financial institutions. In response, governments in numerous EU Member States were compelled to deploy public funds to avert the collapse of systemically important financial institutions. This unprecedented use of taxpayer resources underscored the moral hazard associated with excessive risk-taking by such institutions and highlighted the urgent need to prevent the socialisation of losses. To address these challenges, the Financial Stability Board (FSB) introduced in 2011 the Key Attributes of Effective Resolution Regimes for Financial Institutions (Key Attributes) —a comprehensive set of international standards designed to guide the orderly resolution of failing financial institutions. In 2014, the FSB supplemented these standards with additional guidance elaborating on specific Key Attributes. In parallel, the European Union enacted a legislative framework in 2014 to reinforce financial sector resilience, notably through the establishment of the Single Resolution Mechanism and the adoption of the Bank Recovery and Resolution Directive (BRRD) alongside Regulation (EU) No. 806/2014, both subsequently amended in 2019. This framework enables the orderly resolution of systemically important credit institutions deemed to be failing or likely to fail. It ensures the continuity of critical banking functions while mitigating systemic risks and limiting reliance on public funds. Against this backdrop, the current project aims to support the National Bank of the Republic of North Macedonia (NBRNM) in further strengthening its crisis-management capabilities by operationalising its recovery and resolution framework.

The Republic of North Macedonia has already made significant progress in aligning its bank crisis management regime with the EU acquis. A new Bank Resolution Law, harmonised with EU standards, has been adopted and is set to enter into force on 13 October 2025. In parallel, key implementing bylaws—covering resolution planning, resolution funding, and the application of resolution tools—have also been adopted and will take effect concurrently with the Law. While significant progress has been made, further efforts are needed to complete operationalization of the bank crisis management framework. Key areas of focus include the development of procedural manuals on transfer tools, the drafting of model agreements for the application of the sale of business tool, and the strengthening of internal capacities to apply transfer tools effectively.
These instruments are vital for maintaining financial stability and minimising disruptions during the resolution of distressed banks. To this end, the EBRD is seeking a Consultant with substantial expertise in recovery and resolution frameworks.

The general objective of the assignment for the Consultant is to facilitate efficient application of the transfer tools in bank resolution in the Republic of North Macedonia by providing manuals on sale of business, bridge bank, and asset separation tools, developing sample agreements on share deal and asset deal, and delivering a workshop to present practical matters on applying transfer tools in bank resolution.

Any competitive selections for business opportunities relating to this project will be published on the EBRD's website: Consultancy Procurement Opportunities.

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Access to Information Policy (AIP)

The AIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM via email ipam@ebrd.com to get guidance and more information on IPAM and how to submit a request.

Our story

How we invest in changing lives

What we offer for businesses

Search

Assistance to the National Bank of North Macedonia on operationalisation of transfer tools in bank resolution

Project Description

Project Description

General enquiries

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)