Central Banking

Bulgaria's central bank launches RINGS system

The National Bank of Bulgaria put its new Real-time Interbank Gross Settlement System (RINGS) into effect Tuesday. It will make possible operations with payments in euros following Bulgaria's accession to the European monetary union.

Source: Novinite

The Bulgarian National Bank put into operation Tuesday the Real-time Interbank Gross Settlement System (RINGS), bringing to an end one of the most complex reforms in Bulgaria - the reform of the payment system. The first to use RINGS was Citibank.

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