Financial Sector Assessment : Bulgaria
This Financial Sector Assessment (FSA) summarizes the Financial Sector Assessment Program (FSAP) findings for Bulgaria, and reports on the actions of the government and the Bulgarian National Bank (BNB) to date in response to the FSAP recommendatio...
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| Format: | Financial Sector Assessment Program (FSAP) |
| Language: | English en_US |
| Published: |
Washington, DC
2013
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2002/12/17861738/bulgaria-financial-sector-assessment http://hdl.handle.net/10986/15947 |
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okr-10986-15947 |
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| recordtype |
oai_dc |
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Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNT HOLDERS ACCOUNTING ACCOUNTING PRACTICES ACCOUNTING STANDARDS ADJUSTMENT LOANS AGRICULTURAL CREDIT ASSET QUALITY ASSETS RATIO AUDITING BANK ACCOUNT BANK ASSETS BANK DEPOSITS BANK INTERMEDIATION BANK LENDING BANK LOANS BANK MARKET BANK PROFITABILITY BANK SUPERVISION BANKING ASSETS BANKING LAW BANKING MARKET BANKING SECTOR BANKING SECTORS BANKING SUPERVISION BANKING SYSTEM BANKING SYSTEM ASSETS BANKRUPTCY BANKRUPTCY LAW BONDS BROKER BROKERS CAPITAL ADEQUACY CAPITAL ADEQUACY RATIOS CAPITAL MARKET CAPITAL MARKETS CENTRAL BANK CENTRAL DEPOSITORY CIVIL PROCEDURE CLASSIFIED LOANS COLLATERAL COLLATERAL REQUIREMENTS COMMERCIAL BANKS COMMERCIAL CODE COMMERCIAL LAW COMPANY LAW CONNECTED LENDING CONSOLIDATED SUPERVISION CONSOLIDATION CORPORATE GOVERNANCE CORPORATE INSOLVENCY CORPORATE OWNERSHIP COURT ACTION CREDIT ALLOCATION CREDIT RISK CREDIT SOURCES CREDIT UNIONS CREDITOR CREDITOR RIGHTS CREDITORS CURRENCY CURRENCY BOARD CURRENCY BOARD ARRANGEMENT CURRENT ACCOUNT DEFICIT DEBT LEVELS DEFAULTS DEPOSIT DEPOSIT GUARANTEE DEPOSIT INSURANCE DEPOSIT INSURANCE FUND DEPOSIT INSURANCE SYSTEM DEPOSITOR DEPOSITORS DEPOSITS DISSOLUTION DOMESTIC BANKS DOMESTIC CURRENCY ECONOMIC REFORMS EQUIPMENT EUROBOND EXTERNAL DEBT EXTERNAL FINANCING FIDUCIARY RESPONSIBILITY FINANCIAL ACCOUNTS FINANCIAL CRISIS FINANCIAL INTERMEDIATION FINANCIAL LEASING FINANCIAL POLICIES FINANCIAL SERVICES FINANCIAL STRUCTURES FINANCIAL TRANSACTIONS FISCAL POLICY FORECLOSURE FOREIGN BANKS FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN EXCHANGE EXPOSURE FOREIGN EXCHANGE RESERVES FOREIGN FINANCIAL INSTITUTIONS FUND MANAGERS GENERAL INSOLVENCY LEGISLATION GENERAL SHAREHOLDER GOVERNMENT ACCOUNTS GOVERNMENT BUDGET GROSS SETTLEMENT HOLDING HUMAN RESOURCES INCOME RECOGNITION INCOME TAXES INFLATION INFORMAL CREDIT INFORMATION DISCLOSURE INFORMATION SYSTEMS INSOLVENT INSOLVENT BANKS INSTITUTIONAL CAPACITY INSTITUTIONAL DEVELOPMENT INSTITUTIONAL REFORMS INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INSURANCE CORPORATIONS INSURANCE INDUSTRY INSURANCE PENETRATION INTEREST RATE INTEREST RATES INTERNATIONAL ACCOUNTING INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL RESERVES INTERNATIONAL STANDARDS INVESTOR CONFIDENCE JUDICIAL PROCEDURES JUDICIAL REFORM LAWS LEGAL OBLIGATION LEGISLATION LIFE INSURANCE LIFE INSURANCE COMPANIES LIQUIDITY LIQUIDITY MANAGEMENT LIQUIDITY RATIO LIQUIDITY RATIOS LIQUIDITY SUPPORT LOAN LOAN CLASSIFICATION MACROECONOMIC POLICIES MACROECONOMIC STABILITY MARKET ECONOMY MARKET SHARE MARKET TURNOVER MARKETABLE ASSETS MINORITY SHAREHOLDER MINORITY SHAREHOLDER PROTECTION MINORITY SHAREHOLDER RIGHTS MINORITY SHAREHOLDERS NATIONAL BANK NATIONAL SECURITIES OIL PRICES OPERATIONAL RISK PAYMENT FLOWS PAYMENT SYSTEM PAYMENT SYSTEMS PAYMENTS SYSTEMS PENSION PENSION FUND PENSION FUNDS PENSION REFORM PERSONAL INCOME PERSONAL INCOME TAXES PLEDGES PRIVATE BANKS PRIVATIZATION PRODUCTIVE INVESTMENT PRUDENTIAL REGULATIONS PUBLIC OFFERING RATE OF RETURN RATES OF RETURN REGULATORY FRAMEWORK RESERVE RESERVE ACCOUNTS RESERVE BANK RESERVE BANK OF INDIA RESERVE REQUIREMENT RETURN RETURNS RISK EXPOSURES RISK MANAGEMENT RISK MANAGEMENT SYSTEMS SAVINGS SAVINGS BANK SECURITIES SECURITIES REGULATION SETTLEMENT SETTLEMENT OF TRANSACTIONS SETTLEMENT PERIOD SHAREHOLDERS SOLVENCY STATE ENTERPRISES STOCK EXCHANGE STOCK MARKET STOCK MARKET CAPITALIZATION STOCKS STRATEGIC INVESTORS SUBSIDIARIES SURPLUS LIQUIDITY TAX TECHNICAL ASSISTANCE TERRORISM TRADING TRADING SYSTEM TRANSITION COUNTRIES TRANSITION ECONOMIES TRANSPARENCY TREASURY TREASURY BILLS TRUSTEES VALUATION |
| spellingShingle |
ACCOUNT HOLDERS ACCOUNTING ACCOUNTING PRACTICES ACCOUNTING STANDARDS ADJUSTMENT LOANS AGRICULTURAL CREDIT ASSET QUALITY ASSETS RATIO AUDITING BANK ACCOUNT BANK ASSETS BANK DEPOSITS BANK INTERMEDIATION BANK LENDING BANK LOANS BANK MARKET BANK PROFITABILITY BANK SUPERVISION BANKING ASSETS BANKING LAW BANKING MARKET BANKING SECTOR BANKING SECTORS BANKING SUPERVISION BANKING SYSTEM BANKING SYSTEM ASSETS BANKRUPTCY BANKRUPTCY LAW BONDS BROKER BROKERS CAPITAL ADEQUACY CAPITAL ADEQUACY RATIOS CAPITAL MARKET CAPITAL MARKETS CENTRAL BANK CENTRAL DEPOSITORY CIVIL PROCEDURE CLASSIFIED LOANS COLLATERAL COLLATERAL REQUIREMENTS COMMERCIAL BANKS COMMERCIAL CODE COMMERCIAL LAW COMPANY LAW CONNECTED LENDING CONSOLIDATED SUPERVISION CONSOLIDATION CORPORATE GOVERNANCE CORPORATE INSOLVENCY CORPORATE OWNERSHIP COURT ACTION CREDIT ALLOCATION CREDIT RISK CREDIT SOURCES CREDIT UNIONS CREDITOR CREDITOR RIGHTS CREDITORS CURRENCY CURRENCY BOARD CURRENCY BOARD ARRANGEMENT CURRENT ACCOUNT DEFICIT DEBT LEVELS DEFAULTS DEPOSIT DEPOSIT GUARANTEE DEPOSIT INSURANCE DEPOSIT INSURANCE FUND DEPOSIT INSURANCE SYSTEM DEPOSITOR DEPOSITORS DEPOSITS DISSOLUTION DOMESTIC BANKS DOMESTIC CURRENCY ECONOMIC REFORMS EQUIPMENT EUROBOND EXTERNAL DEBT EXTERNAL FINANCING FIDUCIARY RESPONSIBILITY FINANCIAL ACCOUNTS FINANCIAL CRISIS FINANCIAL INTERMEDIATION FINANCIAL LEASING FINANCIAL POLICIES FINANCIAL SERVICES FINANCIAL STRUCTURES FINANCIAL TRANSACTIONS FISCAL POLICY FORECLOSURE FOREIGN BANKS FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN EXCHANGE EXPOSURE FOREIGN EXCHANGE RESERVES FOREIGN FINANCIAL INSTITUTIONS FUND MANAGERS GENERAL INSOLVENCY LEGISLATION GENERAL SHAREHOLDER GOVERNMENT ACCOUNTS GOVERNMENT BUDGET GROSS SETTLEMENT HOLDING HUMAN RESOURCES INCOME RECOGNITION INCOME TAXES INFLATION INFORMAL CREDIT INFORMATION DISCLOSURE INFORMATION SYSTEMS INSOLVENT INSOLVENT BANKS INSTITUTIONAL CAPACITY INSTITUTIONAL DEVELOPMENT INSTITUTIONAL REFORMS INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INSURANCE CORPORATIONS INSURANCE INDUSTRY INSURANCE PENETRATION INTEREST RATE INTEREST RATES INTERNATIONAL ACCOUNTING INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL RESERVES INTERNATIONAL STANDARDS INVESTOR CONFIDENCE JUDICIAL PROCEDURES JUDICIAL REFORM LAWS LEGAL OBLIGATION LEGISLATION LIFE INSURANCE LIFE INSURANCE COMPANIES LIQUIDITY LIQUIDITY MANAGEMENT LIQUIDITY RATIO LIQUIDITY RATIOS LIQUIDITY SUPPORT LOAN LOAN CLASSIFICATION MACROECONOMIC POLICIES MACROECONOMIC STABILITY MARKET ECONOMY MARKET SHARE MARKET TURNOVER MARKETABLE ASSETS MINORITY SHAREHOLDER MINORITY SHAREHOLDER PROTECTION MINORITY SHAREHOLDER RIGHTS MINORITY SHAREHOLDERS NATIONAL BANK NATIONAL SECURITIES OIL PRICES OPERATIONAL RISK PAYMENT FLOWS PAYMENT SYSTEM PAYMENT SYSTEMS PAYMENTS SYSTEMS PENSION PENSION FUND PENSION FUNDS PENSION REFORM PERSONAL INCOME PERSONAL INCOME TAXES PLEDGES PRIVATE BANKS PRIVATIZATION PRODUCTIVE INVESTMENT PRUDENTIAL REGULATIONS PUBLIC OFFERING RATE OF RETURN RATES OF RETURN REGULATORY FRAMEWORK RESERVE RESERVE ACCOUNTS RESERVE BANK RESERVE BANK OF INDIA RESERVE REQUIREMENT RETURN RETURNS RISK EXPOSURES RISK MANAGEMENT RISK MANAGEMENT SYSTEMS SAVINGS SAVINGS BANK SECURITIES SECURITIES REGULATION SETTLEMENT SETTLEMENT OF TRANSACTIONS SETTLEMENT PERIOD SHAREHOLDERS SOLVENCY STATE ENTERPRISES STOCK EXCHANGE STOCK MARKET STOCK MARKET CAPITALIZATION STOCKS STRATEGIC INVESTORS SUBSIDIARIES SURPLUS LIQUIDITY TAX TECHNICAL ASSISTANCE TERRORISM TRADING TRADING SYSTEM TRANSITION COUNTRIES TRANSITION ECONOMIES TRANSPARENCY TREASURY TREASURY BILLS TRUSTEES VALUATION World Bank Financial Sector Assessment : Bulgaria |
| geographic_facet |
Europe and Central Asia Bulgaria |
| description |
This Financial Sector Assessment (FSA)
summarizes the Financial Sector Assessment Program (FSAP)
findings for Bulgaria, and reports on the actions of the
government and the Bulgarian National Bank (BNB) to date in
response to the FSAP recommendations. The FSAP mission
visited Sofia during the period October 29 to November 14,
2001. The Bulgaria FSAP took place after five years of
aggressive financial reforms in response to the deep
economic and financial crisis of 1996-97. After the collapse
of the banking system and establishment of the Currency
Board Arrangement (CBA) in July 1997, the government and the
BNB pursued structural and institutional reforms in both the
enterprise and banking sectors, including the privatization
of about 85 percent of the banking system assets, mainly to
foreign financial institutions, and the upgrading of banking
supervision capabilities at the BNB. The FSAP mission
occurred at a time when the banking system had stabilized,
but financial intermediation remained low compared to the
more advanced transition economies. In addition to the
assessments of compliance with standards and codes, the
Bulgaria mission focused on addressing the constraints to
lending and advising the BNB on how to ensure that an
expansion of bank lending does not jeopardize the gains in
financial stabilization. The FSAP findings were major inputs
to the medium term program to be supported by the
Programmatic Adjustment Loans (PALS). |
| format |
Economic & Sector Work :: Financial Sector Assessment Program (FSAP) |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Financial Sector Assessment : Bulgaria |
| title_short |
Financial Sector Assessment : Bulgaria |
| title_full |
Financial Sector Assessment : Bulgaria |
| title_fullStr |
Financial Sector Assessment : Bulgaria |
| title_full_unstemmed |
Financial Sector Assessment : Bulgaria |
| title_sort |
financial sector assessment : bulgaria |
| publisher |
Washington, DC |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2002/12/17861738/bulgaria-financial-sector-assessment http://hdl.handle.net/10986/15947 |
| _version_ |
1764431278201896960 |
| spelling |
okr-10986-159472021-04-23T14:03:22Z Financial Sector Assessment : Bulgaria World Bank ACCOUNT HOLDERS ACCOUNTING ACCOUNTING PRACTICES ACCOUNTING STANDARDS ADJUSTMENT LOANS AGRICULTURAL CREDIT ASSET QUALITY ASSETS RATIO AUDITING BANK ACCOUNT BANK ASSETS BANK DEPOSITS BANK INTERMEDIATION BANK LENDING BANK LOANS BANK MARKET BANK PROFITABILITY BANK SUPERVISION BANKING ASSETS BANKING LAW BANKING MARKET BANKING SECTOR BANKING SECTORS BANKING SUPERVISION BANKING SYSTEM BANKING SYSTEM ASSETS BANKRUPTCY BANKRUPTCY LAW BONDS BROKER BROKERS CAPITAL ADEQUACY CAPITAL ADEQUACY RATIOS CAPITAL MARKET CAPITAL MARKETS CENTRAL BANK CENTRAL DEPOSITORY CIVIL PROCEDURE CLASSIFIED LOANS COLLATERAL COLLATERAL REQUIREMENTS COMMERCIAL BANKS COMMERCIAL CODE COMMERCIAL LAW COMPANY LAW CONNECTED LENDING CONSOLIDATED SUPERVISION CONSOLIDATION CORPORATE GOVERNANCE CORPORATE INSOLVENCY CORPORATE OWNERSHIP COURT ACTION CREDIT ALLOCATION CREDIT RISK CREDIT SOURCES CREDIT UNIONS CREDITOR CREDITOR RIGHTS CREDITORS CURRENCY CURRENCY BOARD CURRENCY BOARD ARRANGEMENT CURRENT ACCOUNT DEFICIT DEBT LEVELS DEFAULTS DEPOSIT DEPOSIT GUARANTEE DEPOSIT INSURANCE DEPOSIT INSURANCE FUND DEPOSIT INSURANCE SYSTEM DEPOSITOR DEPOSITORS DEPOSITS DISSOLUTION DOMESTIC BANKS DOMESTIC CURRENCY ECONOMIC REFORMS EQUIPMENT EUROBOND EXTERNAL DEBT EXTERNAL FINANCING FIDUCIARY RESPONSIBILITY FINANCIAL ACCOUNTS FINANCIAL CRISIS FINANCIAL INTERMEDIATION FINANCIAL LEASING FINANCIAL POLICIES FINANCIAL SERVICES FINANCIAL STRUCTURES FINANCIAL TRANSACTIONS FISCAL POLICY FORECLOSURE FOREIGN BANKS FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN EXCHANGE EXPOSURE FOREIGN EXCHANGE RESERVES FOREIGN FINANCIAL INSTITUTIONS FUND MANAGERS GENERAL INSOLVENCY LEGISLATION GENERAL SHAREHOLDER GOVERNMENT ACCOUNTS GOVERNMENT BUDGET GROSS SETTLEMENT HOLDING HUMAN RESOURCES INCOME RECOGNITION INCOME TAXES INFLATION INFORMAL CREDIT INFORMATION DISCLOSURE INFORMATION SYSTEMS INSOLVENT INSOLVENT BANKS INSTITUTIONAL CAPACITY INSTITUTIONAL DEVELOPMENT INSTITUTIONAL REFORMS INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INSURANCE CORPORATIONS INSURANCE INDUSTRY INSURANCE PENETRATION INTEREST RATE INTEREST RATES INTERNATIONAL ACCOUNTING INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL RESERVES INTERNATIONAL STANDARDS INVESTOR CONFIDENCE JUDICIAL PROCEDURES JUDICIAL REFORM LAWS LEGAL OBLIGATION LEGISLATION LIFE INSURANCE LIFE INSURANCE COMPANIES LIQUIDITY LIQUIDITY MANAGEMENT LIQUIDITY RATIO LIQUIDITY RATIOS LIQUIDITY SUPPORT LOAN LOAN CLASSIFICATION MACROECONOMIC POLICIES MACROECONOMIC STABILITY MARKET ECONOMY MARKET SHARE MARKET TURNOVER MARKETABLE ASSETS MINORITY SHAREHOLDER MINORITY SHAREHOLDER PROTECTION MINORITY SHAREHOLDER RIGHTS MINORITY SHAREHOLDERS NATIONAL BANK NATIONAL SECURITIES OIL PRICES OPERATIONAL RISK PAYMENT FLOWS PAYMENT SYSTEM PAYMENT SYSTEMS PAYMENTS SYSTEMS PENSION PENSION FUND PENSION FUNDS PENSION REFORM PERSONAL INCOME PERSONAL INCOME TAXES PLEDGES PRIVATE BANKS PRIVATIZATION PRODUCTIVE INVESTMENT PRUDENTIAL REGULATIONS PUBLIC OFFERING RATE OF RETURN RATES OF RETURN REGULATORY FRAMEWORK RESERVE RESERVE ACCOUNTS RESERVE BANK RESERVE BANK OF INDIA RESERVE REQUIREMENT RETURN RETURNS RISK EXPOSURES RISK MANAGEMENT RISK MANAGEMENT SYSTEMS SAVINGS SAVINGS BANK SECURITIES SECURITIES REGULATION SETTLEMENT SETTLEMENT OF TRANSACTIONS SETTLEMENT PERIOD SHAREHOLDERS SOLVENCY STATE ENTERPRISES STOCK EXCHANGE STOCK MARKET STOCK MARKET CAPITALIZATION STOCKS STRATEGIC INVESTORS SUBSIDIARIES SURPLUS LIQUIDITY TAX TECHNICAL ASSISTANCE TERRORISM TRADING TRADING SYSTEM TRANSITION COUNTRIES TRANSITION ECONOMIES TRANSPARENCY TREASURY TREASURY BILLS TRUSTEES VALUATION This Financial Sector Assessment (FSA) summarizes the Financial Sector Assessment Program (FSAP) findings for Bulgaria, and reports on the actions of the government and the Bulgarian National Bank (BNB) to date in response to the FSAP recommendations. The FSAP mission visited Sofia during the period October 29 to November 14, 2001. The Bulgaria FSAP took place after five years of aggressive financial reforms in response to the deep economic and financial crisis of 1996-97. After the collapse of the banking system and establishment of the Currency Board Arrangement (CBA) in July 1997, the government and the BNB pursued structural and institutional reforms in both the enterprise and banking sectors, including the privatization of about 85 percent of the banking system assets, mainly to foreign financial institutions, and the upgrading of banking supervision capabilities at the BNB. The FSAP mission occurred at a time when the banking system had stabilized, but financial intermediation remained low compared to the more advanced transition economies. In addition to the assessments of compliance with standards and codes, the Bulgaria mission focused on addressing the constraints to lending and advising the BNB on how to ensure that an expansion of bank lending does not jeopardize the gains in financial stabilization. The FSAP findings were major inputs to the medium term program to be supported by the Programmatic Adjustment Loans (PALS). 2013-10-01T15:27:21Z 2013-10-01T15:27:21Z 2002-12 http://documents.worldbank.org/curated/en/2002/12/17861738/bulgaria-financial-sector-assessment http://hdl.handle.net/10986/15947 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Financial Sector Assessment Program (FSAP) Economic & Sector Work Europe and Central Asia Bulgaria |