Regulatory AlertsAppendix No. 3: Selection of Counterparties for Access to Open Market Operations Executed by Means of Quick Tender Procedures
The Bulgarian National Bank (BNB) establishes specific selection criteria for counterparties participating in open market operations executed via quick tender procedures. For fine-tuning operations, the BNB applies prudential and efficiency standards for foreign exchange swaps while prioritizing money market activity for reverse transactions and fixed-term deposits. The Governing Council of the ECB retains the authority to authorize a wider range of counterparties, and the document defines key terms such as quick tender and foreign exchange swaps.
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