site.btaCentral Bank Governing Board Resolves to Publicize Members' Remuneration

Central Bank Governing Board Resolves to Publicize Members' Remuneration

Sofia, July 31 (BTA) - The monthly remuneration of the members of the Governing Board of the National Bank of Bulgaria (BNB, the central bank) is 15,368 leva for the governor, 13,173 leva for the under-governors, and 4,391 leva for the other board members, BNB said in a press release. The pay is related to the average remuneration of bank executives in Bulgaria. The remuneration is revoked for the governor and under-governors for participation in meetings of the Governing Board.

The BNB Governing Board also has endorsed an opinion vis-a-vis the independent assessment of the state of the banking supervision exercised by the central bank, prepared by the International Monetary Fund and the World Bank, and has proposed that the final version of the report be finalized by the end of August. The report, which will be publicized by the end of September, is to underpin a plan for reforming and strengthening the banking supervision activity.

A process for reviewing the quality of the assets of the commercial banks has started officially. As the first step in the process the central bank's Governing Board has approved the opening of a bidding procedure for the selection of an independent external consultant to organize and conduct the review.