ECB plans assessment of six Bulgarian banks

11/12/18 The European Central Bank (ECB) is planning a comprehensive assessment, made up of an asset quality review (AQR) and a stress test, of six Bulgarian banks (UniCredit Bulbank AD, DSK Bank EAD, United Bulgarian Bank AD, First Investment Bank AD, Central Cooperative Bank AD, and Investbank AD) in response to Bulgaria’s request from 18 July 2018 to establish close cooperation with the ECB.

The test will start in November 2018 (with reference date 31 December 2018) and the results are expected to be published in July 2019. In accordance with Article 4 of Decision ECB/2014/5, which specifies the procedure for the establishment of close cooperation, the evaluation by the ECB of Bulgaria’s request will also include an assessment of the relevant national legislation and its practical implementation. In parallel, ECB Banking Supervision is working closely with the Bulgarian National Bank, in view of its potential future role as the national competent authority, to support its smooth integration into the Single Supervisory Mechanism (SSM).

ECB to conduct comprehensive assessment of six Bulgarian banks

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