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Bulgarian National Bank issues set of measures to combat coronavirus crisis

published on 3/19/20 3:59 PM

Photo: archive

The Bulgarian National Bank (BNB) has announced a package of more than 4.6 billion euros that will be earmarked for measures to tackle the effects of the COVID-19 crisis. The aim is to preserve the resilience of the banking system and reduce the negative effects of the restrictions on citizens and businesses. The banking system's profit is capitalized by EUR 800 million. The planned increase of the capital buffers by EUR 350 million is cancelled. The liquidity of banks is increased by EUR 3.5 billion by reducing foreign exposures of commercial banks.

The Bulgarian National Bank is monitoring the situation very closely. It is fully prepared if additional measures are needed. The Bulgarian National Bank calls on legislators and the public administration to refrain from decisions which could be damaging for the financial system.

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Radio Bulgaria News Up-to-date information BNB Bulgarian National Bank coronavirus measures

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