Bulgaria: Financial Sector Assessment Program: Technical Note - Financial Safety Net and Crisis Management

July 11, 2017

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Format: Chicago

Bulgaria: Financial Sector Assessment Program: Technical Note - Financial Safety Net and Crisis Management, (USA: International Monetary Fund, 2017) accessed November 21, 2024

Summary

This Technical Note evaluates the financial safety net and crisis management for Bulgaria. Since the 2008 IMF Financial Sector Assessment Program Update, Bulgaria’s financial safety net and crisis management arrangements, including bank resolution and contingency planning, have improved. In 2015, to implement pertinent European Union rules, Bulgaria introduced a resolution regime for banks and investment firms; designated resolution authorities for said financial institutions; and established mechanisms to fund resolution measures. Despite the improvements, the financial safety net and crisis management arrangements face crucial challenges because none of their components is fully developed. To ensure operational capacity to rapidly deploy recovery and resolution tools, further actions are needed to strengthen the safety net and crisis management arrangements.

Subject: Bank resolution, Bank resolution framework, Banking, Bridge bank, Contingency planning, Crisis management framework, Financial crises

Keywords: Bank bankruptcy regime, Bank resolution, Bank resolution framework, Bank resolution regime, Bridge bank, Bridge bank tool, Contingency planning, CR, Crisis management framework, Financial support, Global, ISCR, Last-resort government stabilization tool, Liquidity support, Resolution authorities, Resolution authority, Resolution tool, Uniform bank resolution regime

Publication Details

Pages:

41
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2017/202
Stock No:

1BGREA2017005
ISBN:

9781484308493
ISSN:

1934-7685

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