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EBA notifies breach of EU law to Bulgarian authorities
The European Banking Authority (EBA) has adopted a formal recommendation addressed to the Bulgarian National Bank (BNB) and the Bulgarian Deposit Insurance Fund (BDIF) notifying that they are breaching Article 1(3)(i) and Article 10 of Directive 94/19/EC (the Deposit Guarantee Schemes Directive - DGSD). The EBA also informs the two national authorities of the actions that they need to follow in order to comply with their obligations under EU legislation.
2014 10 27 (Letter to J Faull COM re EBA Recommendation - Compliance) signed.pdf
2014 10 27 (Letter to J Faull COM re EBA Recommendation - Compliance_
2014 10 24 BDIF response to EBA REC 2014 02.pdf
2014 10 24 BDIF response to EBA REC 2014 02
2014 10 21 BNB response to EBA REC 2014 02.pdf
2014 10 21 BNB response to EBA REC 2014 02
Responses of Bulgarian authorities to EBA recommendation
The EBA has today published the responses received from the Bulgarian authorities in relation to the cases of Corporate Commercial Bank AD (KTB) and Commercial Bank Victoria EAD (VCB). As the requirements of the recommendation adopted by the EBA have not been implemented, the EBA has formally notified the European Commission in accordance with Article 17(4) of Regulation (EU) No 1093/2010.
EBA REC 2014 02 (Recommendation to the BNB and BDIF) - Bulgarian.pdf
EBA REC 2014 02 (Препоръка) - Bulgarian
EBA REC 2014 02 (Recommendation to the BNB and BDIF).pdf
EBA REC 2014 02 (Recommendation to the BNB and BDIF)