Bulgarian law would give central bank management of resolution fund

The Bulgarian National Bank

Bulgaria’s government has drafted a law that would give the country’s central bank the responsibility for managing the national bank resolution fund.

Under the proposed law, the Bulgarian National Bank, or BNB, will take over the management of the resolution fund from Bulgaria’s deposit insurance fund.

The draft law will also increase co-operation between Bulgaria’s financial regulators and the eurozone’s Single Resolution Board. Bulgaria belongs to the European Union but not to the eurozone.

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