Bulgaria Parliament Approves Establishment of Bank Restructuring Fund

Bulgaria Parliament Approves Establishment of Bank Restructuring Fund

Bulgarian National Assembly has greenlighted the establishment of a Bank Restructuring Fund, FOCUS News Agency reported.
The MPs passed at second reading amendments to the Recovery and Restructuring of Credit Institutions and Investment Firms Act.
The Fund will be run by the Management Board of the Bulgarian Deposit Insurance Fund (BDIF).
The draft bills aim at the transposition of an EU directive on the establishment of a framework for the recovery and restructuring of credit institutions and investment firms into national legislation.

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