Bulgaria to apply EBA credit risk mitigation guidelines as of 2022

Bulgaria to apply EBA credit risk mitigation guidelines as of 2022

The Bulgarian National Bank said that its management board has decided to apply the European Banking Authority's (EBA) guidelines on credit risk mitigation in the context of the advanced internal ratings-based (A-IRB) approach as of January 1, 2022.

The guidelines clarify the eligibility requirements for funded and unfunded credit protection available to institutions applying using the A-IRB approach, the central bank said in a statement on Thursday.

The guidelines were published by the EBA in May. They complement the EBA Report on CRM, which focuses on the standardised approach (SA) and the foundation-IRB approach (F-IRB).


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