Bulgarian National Bank


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Bulgarian National Bank

 

the central state bank of the People’s Republic of Bulgaria, acting as the country’s bank of issue and credit center. It was organized in December 1947 on the basis of the former National Bank of Bulgaria, a bank of issue created in 1879. The Bulgarian National Bank holds money of the state, budget institutions, banks, and other financial and credit agencies of the country that is not immediately needed. It regulates monetary circulation, exercises control over the expenditure of the wage fund and the cash fulfillment of the state budget, determines the exchange rate of foreign currencies in Bulgarian leva, buys and sells foreign currency, and purchases precious metals and other currency valuables. It participates in drawing up the unified plan for the country’s socioeconomic development, the consolidated financial and currency plans, and the balance of the income and expenditures of the population, as well as in formulating a unified credit and cash plan for the country. In 1947 the functions of nationalized private banks passed over to the Bulgarian National Bank. Until April 1969, in the regulation of monetary circulation in the country, the bank provided credit and financing for associations, enterprises, and economic bodies and exercised control over capital investments. In April 1969 these functions were turned over to newly organized specialized banks: the Bulgarian Industrial Bank and the Bulgarian Farming and Commercial Bank. These banks perform their activities in localities through offices of the Bulgarian National Bank.

L. KH. SULIAEVA

References in periodicals archive ?
Guarantee performance of the contract in the amount of 5% of its value without VAT - a bank guarantee or cash amount remitted to the account of the "Finance" in the Bulgarian National Bank, c.
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2% of GDP) for January - November 2011, according to preliminary data of the Bulgarian National Bank (BNB).
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6 M that have been invested into Bulgaria, announces Bulgarian National Bank (BNB).
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6 M in the first half of 2015, the Bulgarian National Bank has said.
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The amount of money can be paid into the bank account of Aviootryad 28 IBAN BG82BNBG96613300108803, BIC BNBGBGSD, Bulgarian National Bank Square "Knyaz Alexander I" ?
3 million leva in the first quarter of 2011 compared with a year earlier, the latest figures of the Bulgarian National Bank (BNB) showed.
Tsvetan Tsvetkov, who heads the National Audit Office, has told the Bulgarian National Television that more information about supervision activities carried out at the Bulgarian National Bank (BNB), the country's central bank, is to be provided in a report which is being prepared by his agency and which is due in October.

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