PRESS RELEASE
10 January 2025
At its regular meeting, the Governing Council of the Bulgarian National Bank adopted a new Ordinance No. 6 of the BNB on Provision of Emergency Liquidity Assistance. The Ordinance is issued pursuant to Article 48, paragraph 3, in conjunction with § 6, paragraph 1 of the Law on the Bulgarian National Bank (LBNB), published in the Darjaven Vestnik, issue 13 of 13 February 2024 (new LBNB). The new Ordinance sets out the requirements, collateral and procedure under which, upon accession of the Republic of Bulgaria to the euro area, the Bulgarian National Bank, as a Eurosystem central bank and outside the scope of the Eurosystem's monetary policy operations, will be able to provide emergency liquidity assistance to a solvent bank.
The Ordinance will enter into force as of the date of entry into force of the new Law on the Bulgarian National Bank. With the entry into force of that Ordinance, Ordinance No. 6 of the BNB on Extending Collateralized Lev Loans to Banks is repealed (adopted by the Bulgarian National Bank on 19 February 1998, published in the Darjaven Vestnik, issue 28 of 11 March 1998, amended, issue 118 of 1998, issue 110 of 2003, issue 55 of 2014, in force as of 1 July 2014).
