Bulgaria Financial Sector Assessment Program : Stocktaking of Progress Achieved by the Bulgarian National Bank in Strengthening Banking Supervision
This technical note (TN) provides a stocktaking of the current state of the implementation of the key recommendations made by the IMF and the World Bank in their 2015 assessment report on the observance of Basel Core Principles (BCPs) for effective...
| Main Authors: | , |
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| Format: | Report |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2017
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/834241497970508751/Bulgaria-Stocktaking-of-progress-achieved-by-the-Bulgarian-National-Bank-in-strengthening-banking-supervision-technical-note http://hdl.handle.net/10986/27551 |
| Summary: | This technical note (TN) provides a
stocktaking of the current state of the implementation of
the key recommendations made by the IMF and the World Bank
in their 2015 assessment report on the observance of Basel
Core Principles (BCPs) for effective banking supervision in
Bulgaria. It provides an overview of the most recent
initiatives taken by the Bulgarian National Bank (BNB) to
address the shortcomings found in the domestic supervisory
regime. It also reflects the regulatory and supervisory
framework in place as of the date of the completion of this
review. This note does not provide an exhaustive analysis of
each of the 29 BCPs and is not meant to revise the ratings
assigned by the BCP assessors in their 2015 report. The
focus is on the eight principles that were found to be
materially non-compliant in 2015. In addition, there is
analysis of the progress achieved on six principles rated as
largely compliant in 2015 that have an important bearing on
the effectiveness of supervision and where the BNB is
working to enhance its supervisory practice. |
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