Bulgaria's FSC adopts 1% countercyclical buffer for brokerages from Apr 2020

Bulgaria's FSC adopts 1% countercyclical buffer for brokerages from Apr 2020

Bulgaria's Financial Supervision Commission (FSC) said that, in line with a recent decision by the central bank, it has endorsed a 1% countercyclical capital buffer rate applicable to credit risk exposures of local investment intermediaries, which will become applicable as of April 5, 2020. The regulator also affirmed a countercyclical capital buffer rate of 0.5% for the first quarter of 2020, it said in a statement.The FSC did not provide further details in its statement, published on Friday.The Bulgarian National Bank announced the capital buffer rate increase last month."Increasing the countercyclical capital buffer rate during a period of favourable economic conditions could help preserving and further strengthening the banking system's capital position, thus increasing the credit institutions' resilience to future materialisation of credit risk," the BNB said at the time.
 
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