Bulgaria: Financial Sector Assessment Program - Detailed Assessment of Observance on the Basel Core Principles for Effective Banking Supervision

October 29, 2015

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Format: Chicago

Bulgaria: Financial Sector Assessment Program - Detailed Assessment of Observance on the Basel Core Principles for Effective Banking Supervision, (USA: International Monetary Fund, 2015) accessed December 22, 2024

Summary

This paper discusses key findings and recommendations of the Detailed Assessment of Observance on the Basel Core Principles for Effective Banking Supervision on Bulgaria. Within the Banking Supervision Department, the Special Supervision Directorate (SSD) has been assigned multiple activities that go beyond its primary objective of ensuring integrity in the banking sector. The Bulgarian National Bank is not empowered to require a bank to change its internal organization or structure. It is recommended to refocus the activity of the SSD on its core mandate of financial integrity. This recommendation can be achieved by assigning nonsupervisory activities to other Directorates, preferably outside the Banking Supervision Department.

Subject: Bank supervision, Banking, Credit, Credit risk, Financial regulation and supervision, Internal controls, Market risk, Money, Revenue administration

Keywords: Bank supervision, Board of directors, Business strategy, Central bank, CR, Credit, Credit risk, Eastern Europe, Global, Interest rate, Internal controls, ISCR, Market risk, Parent company, Risk management, Risk profile, Senior management, Southern Europe

Publication Details

Pages:

244
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2015/295
Stock No:

1BGREA2015003
ISBN:

9781513506708
ISSN:

1934-7685

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