The Bulgarian National Bank’s Governing Council adopted a new Ordinance No. 6 governing the provision of emergency liquidity assistance. The ordinance sets the conditions, eligible collateral and procedural steps under which, upon Bulgaria’s accession to the euro area, the Bulgarian National Bank as a Eurosystem central bank will be able to provide emergency liquidity assistance to a solvent bank outside the scope of Eurosystem monetary policy operations. The ordinance is issued under Article 48(3) in connection with §6(1) of the new Law on the Bulgarian National Bank. It will enter into force on the date the new law becomes effective and, from that point, will repeal the previous Ordinance No. 6 on lending to banks in Bulgarian lev against collateral adopted in 1998.
National Bank of Bulgaria 2025-01-10
Bulgarian National Bank adopts new ordinance setting the emergency liquidity assistance framework for euro area accession
The Bulgarian National Bank's Governing Council adopted a new Ordinance No. 6 on emergency liquidity assistance, detailing conditions, eligible collateral, and procedures for providing aid to solvent banks outside Eurosystem monetary policy operations upon Bulgaria's euro area accession. Issued under the new Law on the Bulgarian National Bank, it will replace the 1998 ordinance on lending in Bulgarian lev once the law takes effect.