C-BANK CHANGES VALUE DATE OF BANKS’ DEALS

Business | October 30, 2001, Tuesday // 00:00

Commercial banks will be allowed to use their euro-denominated positions at their minimum required reserves to buy BGN, Bulgarian National Bank (BNB) dealers announced on October 29. The new decision becomes effective as of November 1, 2001. It will allow the banks to receive the necessary BGN funds on the day of the deal. So far commercial banks bought BGN from the BNB as settlement took place two days after a transaction.
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