Podgorica, (Montena-business)-Reduction of banks# accumulation requirements, as announced by the Central Bank of Montenegro (CBMN), would provide more credits for profitable economic plans, claim the representatives of Montenegrin commercial banks. Until now the banks couldn#t use economic deposit accounts on the giro-accounts for credits# endorsement. The monetary authorities announced that the banks would be allowed to use 20% of these deposits. Reduction of the rate will increase the credit activity of the banks, and provide using a part of money from the giro-accounts for the economy#s credit needs, the director of the Hipotekarna Bank and the director of Euromarket Bank agreed. The director of Hipotekarna Bank, Slavko Drljevic said that the CBMN planned that the banks could use 30% of their deposits in 2002, and even 70% of their deposits in 2003. The general director of the Euromarket Bank, Branimir Pajkovic told to Montena-business that prohibition of using deposits had been the consequence of the situation in the bank system last couple of years and unconfident attitude of monetary authorities towards commercial banks. According to Pajkovic, it is usual in the world that 70% of deposits are appointed for crediting of economic programs. "At developed financial markets, deposits are the main source of credits. Prohibition on using deposits for all the banks was a bad reaction that influenced on the volume of economic credits" said Pajkovic. Drljevic claims that releasing of a part of deposits is useful for all 4 banks that got working permissions, but he adds that the Hipotekarna Bank does 80% credit activities in Montenegro. At least DEM 20 million per day could be transferred to profitable economic projects, after reduction of the required accumulation rate, claims Pajkovic. "There is DEM 80 to 100 million, per day, at the accounts of the CBMN#s Bureau for Payments, and first reduction of the required accumulation rate will release 1/5 of that amount" said Pajkovic. af/bd