site.btaParliament Adopts Rules for Nominating and Electing Central Bank Deputy Governor

The National Assembly on Thursday adopted rules for nominating and electing a deputy governor of the Bulgarian National Bank (BNB), who will be in charge of its Banking Supervision Department. The rules concern the procedure for naming and presenting the candidate, the publication of the bidding documents, the hearing of the candidate at the National Assembly Committee on Budget and Finance, and the election by the National Assembly. The rules were adopted by a vote of 113-66, with 20 abstentions.

The nomination for a BNB deputy governor will be submitted by the central bank governor to the Budget and Finance Committee via the National Assembly chair within seven days of the adoption of these rules by the legislature.

The candidate must receive more than half of the votes of the MPs present in the chamber in order to be considered elected.

The election of a BNB deputy governor in charge of the Banking Supervision Department is on the legislature's agenda because the tenure of the present holder of the post, Radoslav Milenkov, expires on March 22, 2025. Under the Bulgarian National Bank Act, a new member of the BNB Governing Council should be elected by the National Assembly between two and three months before the tenure of a present member expires.