site.btaMPs to Consider Changes to Bank Recovery and Resolution Act

Parliament will consider on Friday, at second reading, amendments to the Law on the Recovery and Resolution of Credit Institutions and Investment Firms, tabled by the Council of Ministers.

The proposed amendments aim to align Bulgarian law with EU Regulation 2022/2036 by introducing rules for how globally important financial institutions are managed in case of restructuring and how they meet capital and liability requirements. Bulgaria missed the November 15, 2023 deadline to adopt these changes, prompting the European Commission to launch infringement proceedings in July 2024.

Question Time in Parliament is also scheduled for Friday. Prime Minister Rosen Zhelyazkov will be the first to answer questions by MPs, followed by Deputy Prime Minister and Minister of Transport and Communications Grozdan Karadjov.