The Governing Council of the BNB decided to inform the ESRB that it is not necessary to introduce voluntary reciprocity with respect to the macroprudential measures of Belgium,[...]

PRESS RELEASE

7 May 2024

The Governing Council of the Bulgarian National Bank decided to inform the European Systemic Risk Board (ESRB) that it is not necessary to introduce voluntary reciprocity with respect to the macroprudential measures of Belgium, Germany, Norway, Sweden, Portugal and Denmark, based on the review of the current data, which shows insignificant size of the specific exposures listed in Recommendation ESRB/2023/13, amending Recommendation ESRB/2015/2.

In order to comply with the Recommendation of the ESRB on the assessment of cross-border effects of and voluntary reciprocity for macroprudential policy measures (ESRB/2015/2) and its subsequent amendments, the Bulgarian National Bank regularly reviews the current data on respective exposures, aiming to assess their materiality relative to the announced thresholds and the necessity to introduce the respective macroprudential measure in case the conditions for voluntary reciprocity, in line with the requirements of the Recommendation, are present.