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EBRD is considering providing a EUR 250 million long-term loan to the Bulgarian Deposit Insurance Fund

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Autor: Bancherul.ro
2015-09-25 21:33

The EBRD is considering providing a EUR 250 million long-term loan to the Bulgarian Deposit Insurance Fund (“BDIF”, “the Fund”), guaranteed by the Republic of Bulgaria. The loan will support the optimisation of BDIF’s funding structure and the long-term sustainability of the Fund’s operations.

Project Objectives

The project’s objective is to support the ongoing reforms in the deposit insurance system. The project will allow BDIF to meet the objectives set up in the new Law on Bank Deposit Guarantee and the Law on Recovery and Resolution of Credit Institutions and Investment Firms.

Transition Impact

A strong deposit insurance system is a key component of an effectively functioning financial market. The proposed financing to BDIF aims to enhance the Fund’s liquidity profile, diversify the Fund’s liabilities structure and support the reforms undertaken in the Bulgarian deposit insurance system in view of the new legislation framework. The project will thus contribute to bolstering the confidence in the Bulgarian banking sector.

The EBRD loan will serve as a financing tool with a tenor and structure meeting the long-term funding needs of BDIF. Furthermore, the project foresees organisational and procedural improvements to align the financial safety-net framework in the country to international best practices.

BULGARIAN DEPOSIT INSURANCE FUND

The BDIF is an independent public institution established under the Law on Bank Deposit Guarantee in January 1999. Its mission is to contribute to the stability of and confidence in the financial system in Bulgaria by providing bank deposits guarantee, assisting the efficient process of credit institutions restructuring and protecting creditors’ interests in bank bankruptcy proceedings.

Source: EBRD website

Comentarii

R.I.P
Garantat ? :)
Nene iti garantez ca la avans de doua ai ZERO sanse - si te executa in due time ca e mai sanguine de felul lui - il stiu personal :) si cind sense "miegatrends" isi pierde brusc interesul ... !



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