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    BNB Identifies Eight Banks as O-SIIs, Extends Loan Moratorium

    December 11, 2020

    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.

     

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    Keywords: Europe, Bulgaria, Banking, O-SII, Systemic Risk, COVID-19, Credit Risk, Regulatory Capital, Loan Moratorium, EBA, BNB

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