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Bulgaria: Financial Sector Assessment Program - Detailed Assessment of Observance on the Basel Core Principles for Effective Banking Supervision

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  • International Monetary Fund

Abstract

This paper discusses key findings and recommendations of the Detailed Assessment of Observance on the Basel Core Principles for Effective Banking Supervision on Bulgaria. Within the Banking Supervision Department, the Special Supervision Directorate (SSD) has been assigned multiple activities that go beyond its primary objective of ensuring integrity in the banking sector. The Bulgarian National Bank is not empowered to require a bank to change its internal organization or structure. It is recommended to refocus the activity of the SSD on its core mandate of financial integrity. This recommendation can be achieved by assigning nonsupervisory activities to other Directorates, preferably outside the Banking Supervision Department.

Suggested Citation

  • International Monetary Fund, 2015. "Bulgaria: Financial Sector Assessment Program - Detailed Assessment of Observance on the Basel Core Principles for Effective Banking Supervision," IMF Staff Country Reports 2015/295, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2015/295
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    Cited by:

    1. Miroslav Nedelchev, 2018. "Reforms Of Banking Supervision In Bulgaria," Economics and Management, Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD, vol. 14(1), pages 125-134.

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