Bulgaria C-Bank Dues and Equity Rise 4.1% M/M to 3.6 Bln Euro at End-Aug

Bulgaria C-Bank Dues and Equity Rise 4.1% M/M to 3.6 Bln Euro at End-Aug

The liabilities and equity of the Bulgarian National Bank's (BNB) Banking Department totalled 6.981 billion levs ($4.538 billion/3.569 billion euro) at the end of August, 4.1% higher on the month, BNB figures showed.

Bulgaria is operating an IMF-prescribed restrictive monetary mechanism called a currency board system that pegs the lev at a fixed exchange rate to the euro and bans the BNB from lending to the government. The Banking Department can be a lender of last resort to local commercial banks but only to ward off systemic risk.


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