Bulgaria's C-Bank New Chief to Keep Heads of Issue, Supervision Depts

Dimitar Radev, the newly elected Governor of the Bulgarian National Bank (BNB), has announced that Kalin Hristov and Dimitar Kostov will remain Deputy Governors.

Speaking shortly after his election, Radev informed that Kostov would be in charge of the Baking Supervision department, Hristov would be head of the Issue Department, and Nina Stoyanova, a new Deputy Governor, would be tasked with overseeing the Banking Department.

"I shall submit my nominations for BNB Deputy Governors first thing in the morning on Wednesday. Taking into account that the issue has been brought up repeatedly, I will announce their names, regardless of the fact that it will constitute a breach of procedure because I have not yet assumed office," Radev declared, as cited by the BGNES news agency.

He made clear that after submitting the nominations of the BNB Deputy Governors he would attend a brief ceremony at the BNB during which he would assume responsibility for running the bank.

Regarding his plans for Wednesday afternoon, he told journalists that he would inspect the existing monitoring and response mechanism to the situation in Greece and then allocate the tasks related to the implementation of the action plan which he had presented during the hearing in Parliament.

He vowed that BNB would pursue a policy of open and constructive dialogue with the media, adding that the bank would stick to the transparency and publicity criteria adopted by the European Central Bank and applied by the European System of Central Banks.