EBA finds Bulgarian National Bank ‘in breach’ of EU law

national-bank-of-bulgaria
Bulgaria National Bank

The Bulgarian National Bank (BNB) has breached EU law by preventing access to the deposits held by two failed banks, according to the European Banking Authority (EBA), which has called for remedial action.

Corporate Commercial Bank (CCB) and Commercial Bank Victoria (CBV) were placed under conservatorship in June. Since then, depositors have been unable to access the funds held by either bank.

The EBA argues this is in breach of a European directive that requires depositors to be compensated up

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