The chair of the Croatian Parliament Committee on Finance and State Budget, Grozdana Peric, on Wednesday formally asked Croatian National Bank (HNB) Governor Boris Vujcic to present his observations on media reports in connection with trading in securities of commercial banks, state agency Hina said on Wednesday.

One of the Committee’s tasks is to monitor everything that is happening at the HNB, Peric told Hina, confirming that she had requested comments from the central bank governor on all relevant facts concerning the media reports.

The Index.hr news website has said that in the last 20 years over 40 HNB officials and staff have traded in securities of commercial banks which are supervised by the central bank, citing more than 400 transactions whose value exceeds HRK 10 million (€1.3m).

“I have no doubt that he (Vujcic) will provide all the information available to him. This is a chance for him to explain what was going on,” Peric said, noting that the HNB governor is appointed by Parliament.

After receiving observations from the HNB governor, Peric will inform the members of the Committee on Finance and State Budget. Under Parliament’s Rules of Procedure, the Committee chair, Speaker or a third of the Committee members may call a special meeting of the Committee to discuss the matter.

Asked if it was possible for Vujcic to be relieved of his duties, Peric said that that would require evidence of illegality, adding that she could not be more specific before having full information.