Regulatory Alerts2025-04-17
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Ordinance No 45 of the BNB on Legal Relationships with Monetary Policy Counterparties
The Bulgarian National Bank issued Ordinance No 45 to regulate its legal relationships with monetary policy counterparties in accordance with Eurosystem frameworks. The ordinance establishes strict eligibility criteria for institutions, defines the application and access procedures, and mandates the conclusion of framework agreements governing these operations. It further details verification requirements for credit claims, specifies automatic and discretionary events of default, and outlines the BNB's powers to terminate transactions and impose remedies.
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