site.btaBulgarian National Bank Decides on Restructuring

Bulgarian National Bank Decides on Restructuring

Sofia, October 30 (BTA) - The Governing Council of the Bulgarian National Bank (BNB) on Thursday decided to make structural changes in the central bank. They are in line with its powers as a bank restructuring body, with a Plan for Reform and Development of Banking Supervision adopted on October 5, and with the Governor's commitments for the BNB's institutional development presented to Parliament.

The changes effective November 1 include:

- Setting up of a Restructuring of Credit Institutions Directorate, which reports to the Governor;

- Restructuring of the Banking Supervision Department, which will comprise the following directorates: Inspections, Remote Supervision, Macro-prudential Supervision and Financial Stability, Specific Supervisory Activities, Supervisory Policy, and Supervisory Legal Policy;

- Restructuring of the Banking Department, which will comprise the following directorates: Payment Systems, Payment Supervision, Methodology and Financial Markets, Central Credit Register and Mandatory Reserve Requirements, Statistics, and General Accounting.