Bulgaria : Financial Sector Assessment Program - Detailed Assessment of Observance on the Basel Core Principles for Effective Banking Supervision

Author/Editor:

International Monetary Fund. Monetary and Capital Markets Department

Publication Date:

October 29, 2015

Electronic Access:

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Summary:

This paper discusses key findings and recommendations of the Detailed Assessment of Observance on the Basel Core Principles for Effective Banking Supervision on Bulgaria. Within the Banking Supervision Department, the Special Supervision Directorate (SSD) has been assigned multiple activities that go beyond its primary objective of ensuring integrity in the banking sector. The Bulgarian National Bank is not empowered to require a bank to change its internal organization or structure. It is recommended to refocus the activity of the SSD on its core mandate of financial integrity. This recommendation can be achieved by assigning nonsupervisory activities to other Directorates, preferably outside the Banking Supervision Department.

Series:

Country Report No. 15/295

Subject:

English

Publication Date:

October 29, 2015

ISBN/ISSN:

9781513506708/1934-7685

Stock No:

1BGREA2015003

Format:

Paper

Pages:

244

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