Bulgaria : Financial Sector Assessment Program: Technical Note - Financial Safety Net and Crisis Management
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Summary:
The Bulgarian financial safety net comprises four domestic authorities. The Bulgarian National Bank (BNB) is the monetary authority, and the prudential and resolution authority for banks. The Financial Supervision Commission (FSC) is the prudential and resolution authority for investment firms, and the prudential supervisor for other nonbank financial institutions. The Bulgarian Deposit Insurance Fund (BDIF) provides deposit insurance and manages the deposit insurance fund (DIF) and the bank resolution fund (BRF); it also appoints and oversees bank bankruptcy liquidators. The Ministry of Finance (MoF) is politically responsible for financial sector policies. The Financial Stability Advisory Council (FSAC) complements these authorities and brings together the Minister of Finance (chair), and the heads of the BNB and the FSC.
Series:
Country Report No. 17/202
Subject:
Bank supervision Bulgaria Crisis management Financial crisis Financial safety nets Financial Sector Assessment Program Liquidity management
English
Publication Date:
July 11, 2017
ISBN/ISSN:
9781484308493/1934-7685
Stock No:
1BGREA2017005
Format:
Paper
Pages:
41
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