Regulatory Alerts2006-12-22
Ordinance No 2 of the BNB on Licenses, Approvals and Permissions Granted by the Bulgarian National Bank
The Bulgarian National Bank issues this Ordinance to establish the specific requirements and procedures for granting licenses, approvals, and permissions to credit institutions under the Law on Credit Institutions and EU Regulation 575/2013. It mandates detailed documentation for bank license applications, including rigorous disclosure of shareholder information, financial standing, and management suitability based on ownership thresholds. The regulation further defines the submission protocols for branches of third-country banks and outlines the BNB's role in joint decisions with other Member State authorities.
Share