site.btaBNB Amends Ordinance on Licences, Approvals and Permissions

Sofia, July 21 (BTA) - The Governing Council of the Bulgarian National Bank has supplemented and amended an ordinance on the licences, approvals and permissions issued by the bank under the Credit Institutions Act.

The ordinance sets forth the procedures for implementing an EU Regulation 575/2013 and article 39, paragraph 6 of the Credit Institutions Act which refer to the elements of the banks' own capital.


It also lays down the procedures for issuance of other permissions and approvals under the EU Regulation 575/2013 for which no procedure is specified.

The ordinance also envisages changes to the procedures about the issuance of permissions for the buyback of shares and capital reduction.