Central Banking

Bulgaria's BNB in dispute with Mileti Mladenov

The Bulgarian National Bank and the Deposit Guarantee Fund got involved in a strange dispute when the draft law on bank insolvency was discussed by the parliamentary legal committee. The reason for the dispute was that Mileti Mladenov, head of the Fund, proposed texts to the interim and additional provisions of the law.

The dispute centred mainly on the proposal that the Fund should keep the government securities it owns in a register in BNB rather than in commercial banks. Mr Mladenov explained

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