Law on the Recovery and Restructuring of Credit Institutions and Investment Intermediaries

This law establishes the legal framework for the recovery and restructuring of credit institutions, investment intermediaries, and specific financial holding companies in Bulgaria. It designates the Bulgarian National Bank as the restructuring authority for credit institutions and the Commission for Financial Supervision for investment intermediaries, requiring them to maintain independent restructuring units. The legislation mandates the preparation and annual updating of recovery plans by affected entities, subject to regulatory assessment, and outlines procedures for coordination with the Single Resolution Board and the Ministry of Finance during systemic crises or when public funds are at risk.

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LAW on the Recovery and Restructuring of Credit Institutions and Investment Intermediaries Publ. - State Gazette, No. 62 of 14.08.2015, effective from 14.08.2015; amended, No. 59 of 29.07.2016; amended, No. 85 of 24.10.2017; amended and supplemented, No. 91 of 14.11.2017; amended, No. 97 of 05.12.2017, effective from 05.12.2017; amended and supplemented, No. 15 of 16.02.2018, effective from 16.02.2018; amended, No. 20 of 06.03.2018, effective from 06.03.2018; amended, No. 106 of 21.12.2018; amended and supplemented, No. 37 of 07.05.2019, effective from the day the decision of the European Central Bank on close cooperation under Article 7 of Regulation (EU) No 1024/2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions begins to apply; amended and supplemented, No. 12 of 12.02.2021, effective from 12.02.2021; amended and supplemented, No. 25 of 29.03.2022, as the amendments with the Supplementary Act to the Law on Financial Market Infrastructure enter into force from 29.03.2022, and the amendments with the Law on Payment Services enter into force from 08.07.2022; amended and supplemented, No. 8 of 25.01.2023; amended and supplemented, No. 85 of 10.10.2023, effective from 10.10.2023; amended, No. 13 of 13.02.2024, effective from the date indicated in the Decision of the Council of the European Union on the adoption of the euro by the Republic of Bulgaria, adopted in accordance with Article 140(2) of the Treaty on the Functioning of the European Union, and the Regulation of the Council of the European Union, adopted in accordance with Article 140(3) of the Treaty on the Functioning of the European Union; amended, No. 70 of 20.08.2024, effective from the date determined in the Decision of the Council of the European Union on the adoption of the euro by the Republic of Bulgaria, adopted in accordance with Article 140(2) of the TFEU, and the Regulation of the Council of the European Union, adopted in accordance with Article 140(3) of the TFEU; ; amended and supplemented, No. 54 of 04.07.2025; amended and supplemented, No. 63 of 01.08.2025; amended and supplemented, No. 67 of 15.08.2025; supplemented, No. 25 of 10.03.2026; amended, No. 67 of 24.07.2026

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Amends: Law No. 12 dated 2021-02-12not in RegAlertLaw No. 15 dated 2018-02-16not in RegAlertLaw No. 25 dated 2022-03-29not in RegAlertLaw No. 8 dated 2023-01-25not in RegAlert
Refers to: Regulation (EU) 2023/2859 of the European Parliament and of the Council of 13 December 2023 establishing a European single access point providing centralised access to publicly available information of relevance to financial services, capital markets and sustainability (Text with EEA relevance)2023 Regulation (EU) No 806/2014 of the European Parliament and of the Council of 15 July 2014 establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Resolution Fund and amending Regulation (EU) No 1093/20102014 Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions2013 Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 Text with EEA relevance2013 Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories Text with EEA relevance2012 Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC2010

Source: Financial Supervision Commission Bulgaria — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works