Regulatory Alerts2025-10-06
Ordinance No 49 of the BNB on Licensing Credit Servicers and Information Provision by Credit Purchasers and Institutions
The Bulgarian National Bank issued Ordinance No 49 to establish the terms, procedures, and requirements for granting licenses to credit servicers and for information provision by credit purchasers and institutions. The regulation mandates detailed application submissions, including comprehensive documentation on organizational structure, qualifying holdings, and the suitability of management bodies. It further requires credit servicers to conduct initial and periodic assessments of the collective suitability of their management and control bodies to ensure competent conduct of activities.
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