Bulgarian National Bank

11/29/2021 | Press release | Distributed by Public on 11/29/2021 09:15

The BNB Governing Council identified as other systemically important institutions (O-SIIs) eight banks for which it set a level of the O-SIIs buffer

PRESS RELEASE

29 November 2021

On 29 October 2021, the BNB Governing Council (BNB GC) identified eight banks as other systemically important institutions (O-SIIs) pursuant to Art. 9, paragraph 11 in relation to Art. 9, paragraph 1 and in accordance with the criteria under Art. 9, paragraph 7 of BNB Ordinance No. 8, and the common European methodology laid down in the Guidelines of the European Banking Authority1. The BNB GC set the level of the O-SII buffer under Art. 11, paragraphs 1 and 3 of Ordinance No. 8, on an individual and on consolidated basis, applicable to the total risk exposure amount, as follows:

Banks

Level of the buffer for O-SIIs

Applicable from 1 Jan. 2022

UniCredit Bulbank AD

1.00%

DSK Bank AD

1.00%

First Investment Bank AD

1.00%

United Bulgarian Bank AD

0.75%

Eurobank Bulgaria AD

0.75%

Raiffeisenbank (Bulgaria) EAD

0.75%

Bulgarian Development Bank EAD

0.50%

Central Cooperative Bank AD

0.50%

In accordance with Art. 11, paragraph 4 of Ordinance No. 8, the decision shall be disclosed one month after the notification to the European Systemic Risk Board.

The decision of the BNB GC was taken in compliance with the established procedures for macroprudential instruments with the European Central Bank pursuant to Art. 5 of Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions.

The section of the buffer for other systemically important institutionson the BNB website is updated in accordance with the decision made.

1Guidelines on the criteria to determine the conditions of application of Article 131(3)of Directive 2013/36/EU (Capital Requirements Directive) in relation to the assessment of other systemically important institutions (O-SIIs), EBA/GL/2014/10