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
APRA Assesses Implementation of BEAR at Three Large BanksRelated Articles
FDIC Proposes Amendments to Real Estate Lending Standards
FDIC is seeking comments on a rule to amend the interagency guidelines for real estate lending policies—also known as the Real Estate Lending Standards.
ISDA Consults on Implementation of Fallbacks for Certain Swap Rates
ISDA is consulting on the implementation of fallbacks for the sterling LIBOR ICE Swap Rate and for the USD LIBOR ICE Swap Rate.
BIS and BoE Launch Innovation Hub in London
BIS and BoE launched the BIS Innovation Hub Center in London, which is the fourth new Innovation Hub Centre to be opened in the past two years.
ESRB Recommends Reciprocation of Certain Macroprudential Measures
ESRB published recommendations on the reciprocation of macro-prudential measures in Belgium, France, Luxembourg, Norway, and Sweden.
US Agencies Set Out Unified Agenda for Planned Regulatory Actions
SEC announced that the Office of Information and Regulatory Affairs released the Spring 2021 Unified Agenda of Regulatory and Deregulatory Actions.
EC Publishes Regulation on Key Aspects of Implementation of SA-CCR
EC published the Delegated Regulation 2021/931, which supplements the Capital Requirements Regulation (CRR or Regulation 575/2013) with regard to the regulatory technical standards specifying the method for identifying derivative transactions with one or more than one material risk driver.
BCBS Consults on Prudential Treatment of Cryptoasset Exposures
BCBS is consulting on preliminary proposals for the prudential treatment of cryptoasset exposures of banks.
EBA Revises List of Validation Rules for Reporting
EBA issued a revised list of validation rules under the implementing technical standards on supervisory reporting.
Banking Authorities and Private Sector Collaborate on Wholesale CBDC
BIS Innovation Hub, BDF, and SNB announced that, together with a private-sector consortium led by Accenture, they will conduct an experiment using wholesale central bank digital currency (wCBDC) for cross-border settlement.
ESAs Publish Amended Implementing Standards on Mapping of ECAIs
ESAs published two amended implementing technical standards on the mapping of credit assessments of External Credit Assessment Institutions (ECAIs).
