Bulgarian central bank

The Bulgarian government has given its nod to a brand-new Law on the Bulgarian National Bank (BNB), specifically designed to facilitate Bulgaria's seamless integration into the Eurozone. This legislation, set to replace the existing law upon the country's adoption of the euro as its official currency, received approval during the Council of Ministers' meeting today.

SOFIA, Sept 26 (Reuters) - The banks in Bulgaria will have to set aside additional capital as of October 2019 to counter a build-up of cyclical systemic risks linked to credit growth and real estate prices, the Bulgarian central bank said on Wednesday.

In September, Bulgaria's balance of payments remained positive and marked an improvement for the first nine months of the year, showed data of the Bulgarian Central Bank (BNB).

The current and capital accounts balance of Bulgaria was positive in September and amounted to EUR 417.1 M, given a surplus of EUR 292.2 M exactly a year ago.

The State General Reserve Fund of Oman has taken legal action against Bulgaria, seeking to recover the book value of its investment in collapsed Corporate Commercial Bank, Sofia-based 24 Chasa daily reported on Monday.

The European Central bank is to extend a backstop facility to Bulgaria and could provide assistance to other countries in Southeast Europe in view of possible crisis contagion from Greece, Bloomberg reports.

Bulgarian Central Bank Governor Ivan Iskrov on Thursday denied allegations claiming he had agreed to step down on June 19 to open the way for the election of his successor.

"No one has been authorised to make any statements on behalf of the BNB governor.", the central bank said in a statement.

Bulgarian Central Bank BNB's position on the developments at Corporate Commercial Bank (Corpbank or KTB) is a clear sign of the financial authority's "strong dependencies", KTB majority owner Tsvetan Vasilev has said.

A top Bulgarian court has definitively refused to consider an appeal against the revoking of the banking licence of Corporate Commercial Bank (Corpbank or KTB), opening the way for an insolvency case against the collapsed lender to proceed.

Bulgaria's Deposit Insurance Fund said on Thursday that from 4 December 2014 it will start repaying state-protected deposits in Corporate Commercial Bank (KTB), which had its banking license withdrawn earlier in the day.

European Banking Authority said Monday Bulgaria should allow immediate access of depositors at Corporate Commercial Bank (Corpbank, KTB) to their savings.