Parliament adopted amendments to the Credit Institutions Act at first reading, reported BGNES. 

The purpose of the draft law is to improve the regulatory framework for banking supervision by complying with the recommendations of the Financial Sector Assessment Program report and the commitments made by the Bulgarian National Bank in response to the report.

The bill provides for new provisions related to the necessity to create a legal mechanism for introducing in the national legal framework the guidelines, recommendations and other measures of the European Banking Authority.

During the debates, Budget Committee Chairman Menda Stoyanova pointed out that this bill is another step towards increasing the efficiency of the BNB supervisory activity on banks.

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