Оценки на финансовия сектор в България при подготовкта за ERM II
Assessments of the Financial Sector in Bulgaria in the Way to ERM II

Author(s): Kaloyan Simeonov
Subject(s): Economy, National Economy, Financial Markets
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: Financial Sector; Asset Quality Review; Stress Test; ERM II; Banking Union of the EU
Summary/Abstract: After the collapse of the fourth largest bank in the country in 2014, the confidence in the financial sector in Bulgaria has decreased substantially. However, only six years later – in 2020 Bulgaria succeeded to join simultaneously the Banking Union of the EU and the Exchange Rate Mechanism 2 (ERM II). In practice, for a very short period of time the country not only succeeded to re-establish the confidence in the financial sector, but also to join these two important EU mechanisms. This is due to many measures and reforms that have been realised in the banking and non-banking financial sector, taking also into account the lessons from the failure of the fourth largest bank. In the period 2015-2020 many assessments and analyses were organised in Bulgaria from national, European and international institutions. The current report makes a review of these assessments and analyses as well as of their importance for the preparation of Bulgaria to join the Banking Union of the EU and the ERM II.

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