BNB Identifies Eight Banks as O-SIIs, Extends Loan Moratorium
The BNB Governing Council has identified eight banks as other systemically important institutions (O-SIIs) and has set the level of the O-SII buffers for these banks. The O-SII buffers will be applicable from January 01, 2021. BNB has set the O-SII buffer of 1.00% for DSK Bank EAD, UniCredit Bulbank AD, and First Investment Bank AD; a buffer of 0.75% for United Bulgarian Bank AD, Eurobank Bulgaria AD, and Raiffeisenbank (Bulgaria) EAD; and a buffer of 0.50% for Central Cooperative Bank AD and Bulgarian Development Bank AD. In addition, BNB approved a request of the Association of Banks in Bulgaria to extend the payment moratorium amid the COVID-19 crisis.
BNB has approved an extension of the deadline for submission of requests from clients of banks for deferral of liabilities until March 23, 2021 as well as an extension of the deadline for approval of these requests by banks until March 31, 2021. BNB also extended the deadline for deferral of liabilities of bank customers until December 31, 2021, but not more than 9 months. The BNB Governing Council also decided to require banks to provide operational plans within 10 working days to assess the potential for non-payment by the borrowers who have benefited from the moratorium after its expiry. The requirements for these operational plans are introduced by the amended EBA guidelines on legislative and non‐legislative moratoria on loan repayments in the light of the COVID‐19 crisis.
Related Links
- Press Release on Identified O-SIIs (in English)
- Press Release on Extension of Moratorium (in Bulgarian)
Keywords: Europe, Bulgaria, Banking, O-SII, Systemic Risk, COVID-19, Credit Risk, Regulatory Capital, Loan Moratorium, EBA, BNB
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Patrycja Oleksza
Applies proficiency and knowledge to regulatory capital and reporting analysis and coordinates business and product strategies in the banking technology area
Previous Article
FSB Reports Assess Impact of Pandemic on Financial StabilityRelated Articles
BIS and Central Banks Experiment with GenAI to Assess Climate Risks
A recent report from the Bank for International Settlements (BIS) Innovation Hub details Project Gaia, a collaboration between the BIS Innovation Hub Eurosystem Center and certain central banks in Europe
Nearly 25% G-SIBs Commit to Adopting TNFD Nature-Related Disclosures
Nature-related risks are increasing in severity and frequency, affecting businesses, capital providers, financial systems, and economies.
Singapore to Mandate Climate Disclosures from FY2025
Singapore recently took a significant step toward turning climate ambition into action, with the introduction of mandatory climate-related disclosures for listed and large non-listed companies
SEC Finalizes Climate-Related Disclosures Rule
The U.S. Securities and Exchange Commission (SEC) has finalized the long-awaited rule that mandates climate-related disclosures for domestic and foreign publicly listed companies in the U.S.
EBA Proposes Standards Related to Standardized Credit Risk Approach
The European Banking Authority (EBA) has been taking significant steps toward implementing the Basel III framework and strengthening the regulatory framework for credit institutions in the EU
US Regulators Release Stress Test Scenarios for Banks
The U.S. regulators recently released baseline and severely adverse scenarios, along with other details, for stress testing the banks in 2024. The relevant U.S. banking regulators are the Federal Reserve Bank (FED), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).
Asian Governments Aim for Interoperability in AI Governance Frameworks
The regulatory landscape for artificial intelligence (AI), including the generative kind, is evolving rapidly, with governments and regulators aiming to address the challenges and opportunities presented by this transformative technology.
EBA Proposes Operational Risk Standards Under Final Basel III Package
The European Union (EU) has been working on the final elements of Basel III standards, with endorsement of the Banking Package and the publication of the European Banking Authority (EBA) roadmap on Basel III implementation in December 2023.
EFRAG Proposes XBRL Taxonomy and Standard for Listed SMEs Under ESRS
The European Financial Reporting Advisory Group (EFRAG), which plays a crucial role in shaping corporate reporting standards in European Union (EU), is seeking comments, until May 21, 2024, on the Exposure Draft ESRS for listed SMEs.
ECB to Expand Climate Change Work in 2024-2025
Banking regulators worldwide are increasingly focusing on addressing, monitoring, and supervising the institutions' exposure to climate and environmental risks.
