The Bulgarian banking system is stable, central bank Governor Dimitar Radev said on Thursday following the completion of the asset quality review and stress test of the country’s banks.

“The main indicator of a bank’s financial resilience, the ratio of bank common equity tier one capital to its risk-weighted assets remains significantly above the required minimum regulatory requirements on a system level and is above the EU average as announced in the latest European stress test,” Radev said in a statement.

The governing council of the Bulgarian National Bank (BNB) adopted on Thursday the results of the asset quality review and stress test, as summarized by Deloitte.

The central bank’s governing council has also concluded that the capital adequacy of each bank after potential adjustments from the asset quality review remains above the minimum regulatory requirements, Radev said.

With individual results varying across banks, follow-up plans have been developed that include “measures aimed at maintaining existing capital buffers for some banks or increasing capital buffers and decreasing risk-weighted assets for others”, Radev added.

He also said that the follow-up measures, which will be announced on Saturday afternoon, “are based entirely on available market solutions and funds from private sources”, according to the statement.