PRESS RELEASE
17 April 2025
At its regular meeting, the Governing Council of the Bulgarian National Bank has adopted a new Ordinance No. 45 on the establishment and regulation of the Bulgarian National Bank’s legal relationships with monetary policy counterparties.
The Ordinance has been issued pursuant to Article 37 in conjunction with § 6, paragraph 1 of the Law on the Bulgarian National Bank, published in Darjaven Vestnik, issue 13 of 13 February 2024 (new Law on the BNB), and as required in Article 1, paragraph 3 and Article 160 of Guideline (EU) 2015/510 of the European Central Bank of 19 December 2014 on the implementation of the Eurosystem monetary policy framework (Common Documentation Guidelines).
The new Ordinance lays down the procedure by which the Bulgarian National Bank, as part of the European System of Central Banks and the Eurosystem, establishes and regulates its legal relationships with Eurosystem monetary policy counterparties in accordance with the Treaty on the Functioning of the European Union, the Statute of the European System of Central Banks and the European Central Bank, and the applicable acts of the European Central Bank.
The Ordinance will enter into force as of the date of entry into force of the new Law on the BNB, with the exception of § 3, which will enter into force one month after the date of the Council of the European Union’s Decision abrogating the derogation of the Republic of Bulgaria, pursuant to Article 140, paragraph 2 of the Treaty on the Functioning of the European Union.